Acceris Communications Inc.
OTC Bulletin Board : ACRS

Acceris Communications Inc.

August 05, 2005 18:27 ET

Acceris Communications Inc. Announces Annual Shareholder Meeting Results

PITTSBURGH, PENNSYLVANIA--(CCNMatthews - Aug. 5, 2005) - Acceris Communications Inc. ("Acceris")(OTCBB:ACRS) today announced that on August 5, 2005, it held its Annual Meeting of Shareholders. For more information on the following proposals, see the Company's proxy statement dated July 6, 2005, the relevant portions of which are incorporated herein by reference.

In connection with the Annual Meeting, the Company's transfer agent, American Stock Transfer and Trust Company, tabulated proxies representing 18,776,084 shares, or 97.5%, of the total outstanding shares voted in the following manner:

Proposal 1: The election of directors

Allan Silber 18,766,334 9,750
Henry Toh 18,758,463 17,621
Hal Heaton 18,760,718 15,366

Proposal 2. The approval of the sale of substantially all assets of the company's wholly owned subsidiary, Acceris Communications Corp.

17,611,621 shares voting for (representing 91.4%)
10,511 shares voting against (representing 0.1%)
4,785 shares abstaining

The asset sale transaction remains subject to regulatory and other customary closing conditions and is expected to close by September 30, 2005.

Proposal 3. The amendment of the company's Articles of Incorporation to change the name of the company to "C2 Global Technologies Inc."

18,757,295 shares voting for (representing 97.4%)
15,530 shares voting against (representing 0.1%)
3,258 shares abstaining

The new name reflects a change in the strategic direction of the Company in light of the sale of approximately 98% of its telecommunications business.

Proposal 4. The ratification of the appointment of BDO Seidman, LLP as independent auditors for the year ended December 31, 2005.

18,768,116 shares voting for (representing 99.9%)
7,054 shares voting against (representing 0.1%)
913 shares abstaining

Percentages for proposals 2 and 3 are based on the total number of shares eligible to vote at the meeting, and for proposal 4 are based on the total number of shares represented at the meeting in person or by proxy.

About Acceris

Acceris is a broad based communications company serving residential, small and medium-sized business and large enterprise customers in the United States. A facilities-based carrier, it provides a range of products including local dial tone and 1+ domestic and international long distance voice services, as well as fully managed and fully integrated data and enhanced services. Acceris offers its communications products and services both directly and through a network of independent agents, primarily via multi-level marketing and commercial agent programs. Acceris also offers a proven network convergence solution for voice and data in Voice over Internet Protocol ("VoIP") communications technology and holds two foundational patents in the VoIP space. For further information, please visit Acceris' website at

Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, as amended, that are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may," "will," "anticipate," "believe," "estimate," "expect," "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as noted in our securities and other regulatory filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.

Contact Information

  • Acceris Communications Inc.
    Stephen A. Weintraub
    Senior Vice President & Secretary
    (416) 866-3058