724 Solutions Announces Results of Annual and Special Meeting of Shareholders.Business Editors/High-Tech Writers TORONTO--(BUSINESS WIRE)--April 25, 2003 724 Solutions Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SVNX; TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : SVN SVN Subversion (version control system) SVN Slovenia (international traffic code) SVN Social Venture Network SVN South Vietnam SVN Secure Virtual Network SVN Supervised Visitation Network ), a leading provider of next-generation IP-based network and data services, announced the results of its Annual and Special Meeting of Shareholders held on April 24, 2003. In addition to the normal business of the meeting, shareholders approved all three special resolutions that were proposed by management and the Board of Directors. These included: -- a special resolution to approve the consolidation of the Company's common shares on the basis of one-for-ten common shares. The Company has filed the documentation to implement the consolidation and anticipates that its common shares will begin trading on a consolidated basis on the Toronto Stock Exchange (TSX) and NASDAQ on Monday, April 28, 2003. -- a special resolution to approve the continuance of the Company under the Canada Business Corporations Act The Canada Business Corporations Act, also known as Bill C-44, is a Canadian act respecting Canadian business corporations. See also
CBCA Canadian Business Corporations Act CBCA Calgary Birth Control Association CBCA Charlotte Builders and Contractors Association CBCA Chilled Beam and Ceiling Association ). The Company is filing an application to continue under the CBCA with the CBCA Director. -- a special resolution to approve the shareholder rights plan previously adopted by the Company's board of directors. About 724 Solutions Inc. 724 Solutions Inc. (NASDAQ: SVNX; TSX: SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open next generation IP-based network and data services. Additionally, the company provides a series of actionable alerting solutions to financial institutions to assist them in lowering operating costs operating costs npl → gastos mpl operacionales and improving customer satisfaction and retention. 724 Solutions is a global company with development operations in North America, Switzerland and Germany with headquarters in Toronto, Canada. For more information, visit www.724.com. |
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