Maximizer Software Inc.

Maximizer Software Inc.

September 24, 2007 06:30 ET

Going Private Transaction Proposed for Maximizer Software Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Terence Hui, Chair of the Board of Directors of Maximizer Software Inc. ("MSI" or the "Company") (TSX:MAX) announced today that he has informed the independent directors of MSI that a corporation that is indirectly owned and controlled by members of his family has proposed a "going private transaction" for MSI in which the minority shareholders of MSI will be paid $0.135 cash per share.

Mr. Hui, together with members of his family, beneficially own, directly or indirectly, 43,186,778 or approximately 69% of the 62,667,123 issued and outstanding shares of MSI.

The proposed purchase price represents a premium of 108% over the $0.065 closing price of the shares of MSI on the TSX on Friday, September 21, 2007, the last day on which the shares of MSI traded prior to this announcement, and a 104% premium over the weighted average trading price of the MSI shares on the TSX for the 20 trading days preceding September 21, 2007 ($0.0663 per share).

No agreement has been entered into in respect of the proposed transaction.

Completion of the transaction remains subject to a number of conditions, including the obtaining of a formal valuation of the shares of MSI from an independent valuator, the negotiation and signing of all requisite agreements, court, regulatory, and shareholder approval (including approval by a "majority of the minority" shareholders of MSI) and other conditions usual for transactions of this type.

It has not been determined, at this time, whether the proposed transaction would proceed in a single step by a plan of arrangement or by a formal take-over bid followed by a plan of arrangement.

It is expected that MSI will provide further information regarding the timing of the proposed transaction.

The benefits obtained by MSI as a publicly trading company decrease as the expense and cost to maintain its public company status continue to increase.

By offering the minority shareholders a premium over the current market price of the MSI shares, minority shareholders will be able to realize an amount for their investment in the Company and allow the Company to carry on with less expense as a private company.

Contact Information

  • Maximizer Software Inc.
    John Caputo
    (604) 639-3569