Catuity To Preview Turnaround Plan At Two Investor Meetings, Board Seeks Approval of Share Consolidation Plan on Nov. 1; New CEO Will Detail Sales Plan, Answer Questions Oct. 20-21 in Sydney.DETROIT & SYDNEY, Australia -- Catuity, 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 : CTTY CTTY Control Teletype CTTY Console Teletype ; ASX ASX See: Australian Stock Exchange : CAT), a provider of POS-focused solutions, including loyalty, today announced two informational meetings for October 20 & 21 at its Sydney offices to detail its plan for turning around the company and to answer shareholder questions about the proposed reverse stock split. The company is asking all shareholders to review the proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other they have received for the Nov. 1 meeting and to support the Board of Director's recommendation to approve the share consolidation plan. To assist in their review of the proxy, Catuity today filed a six-page Frequently Asked Questions document to provide detailed explanations of the importance of the proposed share consolidation, commonly referred to as a reverse stock split in the U.S. market. The document can be downloaded at www.catuity.com. "We welcome the opportunity to speak openly about the turnaround strategy for Catuity. We believe we can demonstrate that we are focused on market segments in North America which are buying a loyalty solution like the one the company is selling,'' said John Racine, the new President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Catuity. "We believe our best opportunity is to deliver loyalty programs to retailers who have between 25-250 stores and who are investing in programs to help them acquire and retain profitable customers." Added Mr. Racine: "We are also bringing a message that the Nov. 1 proxy vote Proxy vote Vote cast by one person or entity on behalf of another. is critical because without shareholder approval, we would have fewer alternatives available to us to restore liquidity and improve the Company's position in 2005." The meetings will include most of the Company's Directors, including the newest, Cliff Chapman, an executive who recently led a successful technology turnaround. The meetings will be hosted at the Company's offices at Level 4, Ballarat House 68-72 Wentworth Avenue, Surry Hills, NSW NSW New South Wales Noun 1. NSW - the agency that provides units to conduct unconventional and counter-guerilla warfare Naval Special Warfare . Parking in the area is limited and questions about directions can be obtained by calling 61 2 9281 4188. During the scheduled meeting times, participants may also dial-in at the telephone numbers indicated below. The meetings are set for: First Session Wednesday, Oct. 20 at 11 a.m. (Tuesday, Oct. 19 at 9 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT ). Second Session Thursday, Oct. 21 at 9:30 a.m. (Wednesday, Oct. 20 at 7:30 p.m. EDT) For both meetings, Australian investors can call 1 800-002-092 and U.S. investors can call 1-877-232-0923. "We hope shareholders will join us to hear why the Board is backing the share consolidation plan as a next step in the process of turning around the company,'' said Duncan Mount, the Company's non-executive chairman. "The Company has refocused its sales plan and has energetic leadership which has a clear mandate to improve the share price." Shareholders who do not plan to attend the special meeting on Nov. 1 must mail their ballots by Oct. 27 in order for their votes to be counted. The Board of Directors is supporting the proposed share consolidation and asks that you vote "For" the proposal and returned the signed proxy by the deadline. Catuity, Inc. makes the point of sale more profitable for its clients by delivering products and services that reduce costs and generate new revenue. More information on Catuity is available at its website: http://www.catuity.com. In conjunction with the provisions of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " section to 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, this release may contain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. Further information on potential factors that could affect Catuity, Inc. is included in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , which is filed with the US Securities & Exchange Commission. |
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