ACD Systems International Inc.
TSX : ASA

ACD Systems International Inc.

November 17, 2005 20:00 ET

ACD Systems to Purchase and Return 1,254,856 Shares to Treasury for Cancellation

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - Nov. 17, 2005) - ACD Systems International Inc. (TSX:ASA), today announced that it has purchased 1,254,856 of its common shares (the "Shares"). The Corporation purchased the Shares from three arm's length shareholders who objected to a special resolution which was passed at the Corporation's annual and special general meeting held on August 3, 2005. The special resolution authorized the Corporation to continue its jurisdiction of incorporation from Alberta to British Columbia (the "Continuation").

The board of directors of the Corporation determined that this was a unique opportunity to purchase a large block of the Corporation's shares.

The Corporation was required by corporate legislation to purchase the Shares at fair value at the time of the meeting if it wished to proceed with the Continuation. The Corporation and the three shareholders negotiated a price of $0.78 per share based on a discount to the market price of $0.85 at that time. In due course, the Corporation will return the Shares to treasury for cancellation and proceed with the Continuation.

About ACD Systems

Headquartered in British Columbia since 1993, ACD Systems International Inc. (TSX:ASA) is one of the world's leading developers and marketers of digital imaging software, including the renowned ACDSee image management tool and Canvas, an advanced cross-platform technical illustration and graphics program. ACD has delivered value to a global marketplace through Internet distribution and partnerships with manufacturers and developers. ACD has millions of consumer and business users and over 33,000 corporate customers including many Fortune 500 companies. For further details, please visit www.acdsee.com.

ACD, ACD Systems, ACDSee and FotoSlate are trademarks or registered trademarks of ACD Systems Ltd. in Canada, the United States, or certain other jurisdictions. Trademarks of ACD Systems Ltd. are used under license by ACD Systems of America, Inc. Canvas is a trademark or registered trademark of ACD Systems of America, Inc. in Canada, the United States, or certain other jurisdictions. Trademarks of ACD Systems of America, Inc. are used under license by ACD Systems Ltd.

This news release may contain forward-looking statements based on the estimates and opinions of management at the date the statements were made and the company undertakes no obligation to update forward-looking statements if conditions or opinions should change.

Contact Information

  • ACD Systems International Inc. - Media Contact
    James Latham
    Vice President, Marketing
    (250) 544-6700
    pr@acdsystems.com
    or
    ACD Systems International Inc. - Investors Contact
    Martin Winstanley
    Corporate Affairs
    (250) 544-6700
    (250) 544-0291 (FAX)
    ir@acdsystems.com
    www.acdsee.com