The Dissident Shareholders of EMS

March 08, 2005 15:39 ET

EMS Dissident Shareholders are Disappointed with Court Ruling


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: THE DISSIDENT SHAREHOLDERS OF EMS

MARCH 8, 2005 - 15:39 ET

EMS Dissident Shareholders are Disappointed with Court
Ruling

TORONTO, ONTARIO--(CCNMatthews - March 8, 2005) - The EMS Dissident
Shareholders are disappointed with the Court's ruling of today delaying
the election of the new Board until April 29, 2005. The Dissident
Shareholders were hopeful that the Court would rule in favour of
allowing shareholders the right to vote for their Board of preference on
March 17, 2005. The Dissident Shareholders provided evidence to the
court showing that EMS stands to lose tens of millions of dollars of
opportunities should a new slate of directors not be appointed to
immediately address the EMS financial situation before April 29, 2005.
The current Board of Directors have opted to delay the resolution of the
Company's bonding and financial issues until after April 29, 2005,
leaving the company in a crisis and without the ability to bid on the
numerous contracts and projects prior to that date.

Due to the Court's ruling, the meeting called for March 17, 2005 will
not be held. To date, proxies representing over 97.19% of the votes cast
were in favor of electing the Dissident's slate of Directors. The
Dissident Shareholders would like to thank all shareholders who have
supported their vision for EMS and we will provide further information
in the future.

This press release does not constitute a proxy solicitation.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    The Dissident Shareholders of EMS
    Frank D'Addario
    (613)292-6057
    or
    The Dissident Shareholders of EMS
    Robert Palumbo
    (416)245-8912
    www.emsdissidents.com
    or
    Kingsdale Shareholder Services Inc.
    Toll-Free 1-866-749-5464