Terra Payments to Merge with Optimal Robotics

Wednesday 7 April 2004 09:04 CET | News

Optimal Robotics and Terra Payments have announced that the amalgamation of Terra with a wholly-owned subsidiary of Optimal was approved today at separate meetings of the shareholders of Optimal and Terra.

Optimal shareholders also approved today the sale of the U-Scan business to Fujitsu Transaction Solutions Inc. pursuant to the agreement announced yesterday, the change of name of Optimal to Optimal Group Inc. and the increase in the maximum number of directors of Optimal from 9 to 13. The amalgamated company will be a wholly-owned subsidiary of Optimal and will continue its business under the name Optimal Payments Inc. Pursuant to the amalgamation, each common share of Terra will be exchanged for 0.4532 of a Class A share of Optimal. It is the intention of Optimal to delist the shares of Terra from the Toronto Stock Exchange as soon as practicable after the closing of the amalgamation. Terra registered shareholders who have submitted properly completed letters of transmittal together with their share certificates to Computershare Investor Services Inc. will receive their certificate representing Class A shares of Optimal by first class mail unless they have instructed Computershare in their letters of transmittal to have their certificate held for pick-up. Computershare is expected to mail such certificates to former Terra shareholders and have them made available for pick-up as soon as practicable after the closing of the amalgamation. Terra shareholders whose shares are held in the name of a broker, investment dealer, bank, trust company or other nominee are advised to contact that entity for further information.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce