Brocker Cancels Littauer Group Share Purchase.Business Editors/Hi-Tech Writers EDMONTON, Alberta--(BUSINESS WIRE)--March 29, 2001 Brocker Technology Group Ltd. (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 :BTGL BTGL Bisexual Transgender Gay Lesbian , TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BKI BKI Babbar Khalsa International BKI Kota Kinabalu, Sabah, Malaysia - Kota Kinabalu (Airport Code) BKI Bible Knowledge Institute BKI Brasil Kaffe Import (Danish Coffee Importer) , http://www.brockergroup.com) announced today that it has cancelled its agreement with the Littauer Group to purchase 25% of the outstanding shares of Littauer Technologies Co. Ltd., a Korean public company that trades on Korean Stock Exchange, Kosdaq. In December of last year, Brocker announced that it had entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with the Littauer Group to acquire a 25% controlling interest in Littauer Technologies Co. Ltd. in exchange for shares of Brocker that would represent a controlling interest in Brocker. That Memorandum of Understanding was subject to a number of conditions, including completion of due diligence reviews, plus Board and shareholder approval, none of which conditions have been satisfied to date. Brocker has decided that it will not be proceeding with this transaction. About Brocker Technology Group Ltd. Brocker Technology Group Ltd. (http://www.brockergroup.com) is a communications company focused on improving information flows by delivering innovation and market leadership in telecommunication services, e-commerce strategies and information management technologies. Brocker subsidiary, Datec also provides a broad range of IT and communications solutions to companies across the South Pacific. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses; the risk of obtaining financing, and other risks described in the Company's Securities and Exchange Commission filings. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the information contained herein. For more information on Brocker Technology Group, please visit the website, www.brockergroup.com |
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