BSM Technologies and Webtech Wireless File Joint Circular in Connection with Special Meetings to Approve the Merger
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TORONTO and VANCOUVER –Â BSM Technologies Inc. ("BSM") (TSX-V:GPS), a leading provider of remote monitoring, fleet management, and fleet diagnostics systems, and Webtech Wireless Inc. ("Webtech Wireless") (TSX:WEW), a leading provider of GPS fleet management solutions, today announced that they have each filed a joint management information circular (the "Joint Circular") and related proxy materials with Canadian securities regulators, and have mailed these materials to their respective shareholders, in advance of their respective special meetings of shareholders. On July 30, 2015, BSM and Webtech Wireless entered into an agreement providing for a "merger of equals" type transaction of the two companies by way of a statutory plan of arrangement, to create a leading telematics company positioned for growth. The combination is expected to create a global top 20 commercial fleet telematics provider with 155,000 subscribers, focused on the rail, government, construction, trucking, and service verticals. The transaction is structured as a merger of equals whereby existing BSM and Webtech Wireless shareholders will own approximately 51% and 49% of the combined company, respectively, allowing both companies' shareholders to share in the significant anticipated synergies and enhanced growth opportunities resulting from the combination. Expected operational and financial synergies are anticipated to result in near-term annualized cost savings of $1.5 million, with additional expected annualized cost synergies of $2.5 million to $3.5 million as the companies complete the integration process during the 12 to 18 months post-closing.
BSM Special Meeting
The special meeting of shareholders of BSM is scheduled to be held at 1:00 p.m. (Toronto time) on September 23, 2015 at the offices of Cassels Brock Blackwell LLP, 2100 Scotia Plaza, 40 King Street West, Toronto, Ontario, M5H 3C2.
Webtech Wireless Special Meeting
The special meeting of shareholders of Webtech Wireless is scheduled to be held at 10:00 a.m. (Vancouver time) on September 23, 2015 at the offices of Blake, Cassels Graydon LLP, Suite 2600, 595 Burrard Street, Three Bentall Centre, Vancouver, British Columbia, V7X 1L3.
Your vote is important regardless of the number of shares you own. BSM and Webtech Wireless encourage shareholders to read the meeting materials in detail. An electronic copy of the Joint Circular is available on BSM's website at www.bsmwireless.com and on Webtech Wireless' website at www.webtechwireless.com. It will also be available under the issuer profile of each company on SEDAR at www.sedar.com.
YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY
The Board of Directors of BSM and the Board of Directors of Webtech Wireless UNANIMOUSLY recommend that BSM shareholders and Webtech Wireless shareholders, respectively, vote IN FAVOUR of the matters to be voted on at the special meetings of shareholders
How to Vote
Due to timing considerations, shareholders are encouraged to vote today using the internet, telephone or facsimile, all as more particularly described below.
Registered shareholders of BSM and Webtech Wireless Registered shareholders may vote by:
Internet: www.investorvote.com
Telephone: 1-866-732-8683
Facsimile: 1-866-249-7775
Mail: Computershare Investor Services Inc., 100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1
Attending the meeting in person
Non-registered shareholders of BSM and Webtech Wireless
Shareholders who hold shares of BSM or Webtech Wireless through a bank or other intermediary will have different voting instructions and should carefully follow the voting instructions provided to them. In most cases, non-registered shareholders will receive a voting instruction form as part of the meeting materials. Non-registered shareholders are encouraged to complete, sign and return the voting instruction form in accordance with the instructions provided on the form.
In addition, certain non-registered shareholders of BSM may be contacted by Kingsdale Shareholder Services, BSM's proxy solicitation agent, to obtain votes directly over the phone utilizing the Broadridge QuickVote™ service and certain non-registered shareholders of Webtech Wireless may be contacted by Laurel Hill Advisory Group, Webtech Wireless' proxy solicitation agent, to obtain votes directly over the phone utilizing the Broadridge QuickVote™ service.
Shareholders Questions
Shareholders who have questions regarding the transaction or require assistance with voting may contact the applicable proxy solicitation agents as set forth below.
For Shareholders of BSM - Kingsdale Shareholder Services By telephone (North American Toll Free) at: 1-877-659-1818
By telephone (Collect Outside North America) at: 1-416-867-2272
By email at: contactus@kingsdaleshareholder.com
For Shareholders of Webtech - Laurel Hill Advisory Group By telephone (North American Toll Free) at: 1-877-452-7184
By telephone (Collect Outside North America) at: 1-416-304-0211
By email at: assistance@laurelhill.com
About BSM Technologies Inc. (www.bsmwireless.com)
BSM Technologies Inc., through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web-based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.
About Webtech Wireless® (www.webtechwireless.com)
Webtech Wireless is a leader in providing fleet management telematics, GPS and automatic vehicle location (AVL) solutions that improve efficiency, accountability and reduce costs. Webtech Wireless' end-to-end solutions automate record keeping and regulatory compliance, reduce fuel burn and idling, mitigate risk, and keep drivers safe. Customers trust Webtech Wireless to ensure people are accountable and vehicles are visible, through the cloud, in the office, or straight to mobile devices. Webtech Wireless' Webtech Fleet Center™ software solution, and Webtech Wireless' supporting product suite, including Webtech Driver Center™ and Webtech 511®, provides advanced fleet management capabilities for winter maintenance, public works and waste management fleets within government markets; and fleet performance, driver behavior, Hours of Service (HOS), and Electronic Logging Device (ELD) technology for commercial fleet operations and compliance. Please visit www.webtechwireless.com.
SOURCE BSM Technologies Inc.
CONTACT: BSM Technologies, Aly Rahemtulla, President Chief Executive Officer, BSM Technologies Inc., (416) 675-1201, arahemtulla@bsmwireless.com;
Conrad Seguin, NATIONAL Equicom, (416) 815-0700 ext. 251, cseguin@tmxequicom.com;
Webtech Wireless, Andrew Gutman, Chairman & Chief Executive Officer, Webtech Wireless Inc., (604) 434-7337, andrew.gutman@webtechwireless.com; Trevor Greene, Chief Financial Officer, Webtech Wireless Inc., (604) 628-5195, investors@webtechwireless.com
