Softchoice Shareholders Urged to Vote FOR World Wide Technology Arrangement
TORONTO – Softchoice Corporation (TSX:SFTC) announced today that two leading independent proxy advisory firms, including Institutional Shareholder Services Inc. (ISS), have recommended that its shareholders vote in favor of the proposed Arrangement with World Wide Technology Holding Co., LLC (WWT) at the upcoming special meeting on March 4, 2025.
The Arrangement, which involves WWT affiliate 2672989 Alberta ULC acquiring all issued and outstanding Softchoice common shares for $24.50 per share in cash, has received the backing of Softchoice’s Board of Directors. ISS supported its recommendation by stating that the offer represents a premium to the unaffected stock price, the valuation appears credible, and the board engaged in a reasonable process.
Regulatory Approvals and Meeting Details
The necessary regulatory clearances under the Competition Act (Canada) and Hart-Scott-Rodino Antitrust Improvements Act have been obtained. The completion of the Arrangement remains contingent upon shareholder approval at the Meeting, a final order from the Ontario Superior Court of Justice, and other standard conditions.
The virtual-only special meeting will be held on March 4, 2025, at 9:00 a.m. Toronto time and can be accessed via live webcast at https://virtual-meetings.tsxtrust.com/1748. Shareholders of record as of January 27, 2025, are eligible to participate.
Voting Information and Assistance
The proxy voting deadline is February 28, 2025, at 9:00 a.m. Toronto time. Shareholders with questions or requiring voting assistance can contact Laurel Hill Advisory Group at 1-877-452-7184 or assistance@laurelhill.com.
Softchoice Corporation is a software and cloud-focused IT solutions provider helping organizations be agile, innovative, and secure. For more details about the Meeting, visit https://investors.softchoice.com/Special-Meeting-2025.
“Vote FOR this resolution as the offer represents a premium to the unaffected price, valuation appears credible, and the board engaged in a reasonable process. Shareholders will be provided certain and immediate cash value.” – ISS Statement
This press release includes forward-looking information regarding the Arrangement’s timing and completion. Actual results may differ due to various risks and uncertainties, including failure to obtain necessary approvals or satisfy closing conditions. Investors are cautioned against relying on this forward-looking information.
For further information:
- Public Relations: Cheryl Salman, cheryl.salman@softchoice.com
- Investor Relations: Tim Foran, investors@softchoice.com
