CPL Technologies Inc.
TSX VENTURE : CCY

CPL Technologies Inc.

August 27, 2007 12:23 ET

A New Shareholder at CPL: Notice of Share Sale and Grant of Share Sale and Purchase Options by a Dominant Shareholder

MONTREAL, QUEBEC--(Marketwire - Aug. 27, 2007) - CPL TECHNOLOGIES INC. (TSX VENTURE:CCY)

Mr. Roger Plourde, president and majority shareholder of NetMarketingSolution.com Inc., has been named a member of the board of directors of CPL Technologies Inc. and has also become a shareholder in the company. Mr. Plourde has accepted an offer from Mr. Jean-Claude Desaulniers, the president of CPL, and is purchasing an initial block of 740,740 shares, representing 40% of the common shares held by Mr. Desaulniers. Mr. Plourde is conducting this transaction through his holding company, Groupe Proselect Inc. NetMarketingSolution offers services and technologies that are complementary to CPL's products or that work in synergy with them. Groupe Proselect Inc. has also obtained from Mr. Desaulniers an option to purchase from him the other block of shares he holds. This transaction is conditional on the authorization that may be required from the TSX Venture Exchange and from the Autorite des marches financiers du Quebec as well as on court confirmation, if necessary, of the terms of this transaction.

Share purchase

According to the terms and conditions of payment set out in the transaction, Groupe Proselect Inc. is purchasing 740,740 common shares at $0.27 a share for a total amount of $200,000. This block forms part of the 1,835,741 shares held by Mr. Desaulniers in the capital stock of CPL Technologies Inc.

Grant of share sale and purchase options

Based on the agreement between the parties, Mr. Desaulniers has granted to Groupe Proselect Inc. purchase options on the balance of the shares he holds in the capital stock of CPL, amounting to 1,095,001 common shares. Pursuant to this transaction, Groupe Proselect Inc. receives an irrevocable option to purchase the shares held by Mr. Desaulniers, and Mr. Desaulniers receives an irrevocable option to sell the shares he holds in the capital stock of CPL to Groupe Proselect Inc. These options may be exercised by either party until December 5, 2007, at 5 p.m. Each option allows its holder to acquire or sell a common share of CPL Technologies Inc. at an exercise price of $0.27 a share, the price of the stock at the close of trading on the date of the transaction, July 26, 2007. The share purchase options currently held by Mr. Desaulniers under the terms of CPL's share purchase option system are not subject to the purchase options granted pursuant to the transaction.

Change in the board of directors

During the meeting of the board of directors held at the offices of CPL on August 1, 2007, Mr. Desaulniers resigned as chairman of the board of directors, and Mr. Yvan Charron was appointed to replace him in this position. In addition, Mr. Denis Lefebvre resigned from the board, and Mr. Plourde was appointed has interim member of the board.

About CPL Technologies

CPL Technologies is a recognized leader in request management solutions and the developer of the leading Helpdesk and Customer Service solution C2Enterprise. Since 1994, it has dedicated its efforts to delivering unique solutions to the issues facing the Customer Service industry. The Company delivers applications that are flexible, scalable and easy to use. Through the years, CPL has acquired a wide range of customers within a diverse array of industries. The Company client portfolio includes well renowned companies such as Ubisoft, CGI and Orange Mobile, among others. For more information please visit our website at www.cpl-inc.com

Addition information on CPL can be found on SEDAR at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Investor Relations: IntelHub Financial Corporation
    Moses Bendayan, CFA
    514-499-8482 ext. 201
    moses@intelhub.com
    or
    Media and investors: CPL Technologies Inc.
    Jean-Claude Desaulniers, CEO
    866-978-1200 ext.1210
    450-978-6665 (FAX)
    jcdesaulniers@cpl-inc.com