CrossKeys Provides Preliminary Q3 Results - Merger with Orchestream Expected to Close April 11, 2001.Business Editors KANATA, Ontario--(BUSINESS WIRE)--March 6, 2001 CrossKeys Systems Corporation (Nasdaq:CKEY)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CKY CKY Camp Kill Yourself (band) CKY Conakry, Guinea - Conakry (Airport Code) .) announced today that a meeting of CrossKeys security holders will be held to approve the merger with Orchestream (LSE LSE - Language Sensitive Editor :OCH.) on April 9, 2001. Orchestream and CrossKeys expect a formal closing on April 11, 2001. "We have had strong support for this merger, including commitments from our major shareholders, who see, as we do, the benefits of the combined organization being able to deliver service level agreements (SLAs) to our joint customers," said Ian McLaren, 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 CrossKeys. The merger agreement between CrossKeys and Orchestream will be amended to allow shareholders to exchange CrossKeys shares for either Orchestream Ordinary shares or American Depositary Shares American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. . Orchestream ordinary shares are listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Following completion of the merger, Orchestream intends to apply to list American Depositary Receipts American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. on the Nasdaq exchange. Based on preliminary unaudited financial results for the third quarter of fiscal 2001, which ended March 4, 2001, CrossKeys expects revenue of approximately Can $2.4 million. Approximately Can $7 million remains available under a credit facility with Wesley Clover Corporation (announced December 14, 2000), in addition to approximately Can $1million in cash. CrossKeys revenue and cash usage is consistent with the terms of the merger agreement. "We are fully committed (Law) committed to prison for trial, in distinction from being detained for examination. See also: Fully to this deal," said Ashley Ward, CEO of Orchestream. "Our customers are excited about the strategic fit, and product development for a new, integrated product has already started. The key to a successful acquisition is moving quickly, and CrossKeys and Orchestream are working well together to drive a rapid integration." About Orchestream Orchestream is a global leader in the development of software for activating services and enhancing the performance of Internet Protocol (IP) networks. Its products are designed to give service providers and large businesses the tools they need to rapidly and reliably configure IP networks. Orchestream's software sits at the core of the IP-OSS (Operations Support System), fully integrating with billing, fault management and performance measurement software. The advanced features offered by Orchestream's software are designed to support new and emerging applications and services such as IP virtual private networks (IP-VPNs),assured performance of key business applications, as well as video conferencing and voice applications. In June 2000 Orchestream successfully listed on the London Stock Exchange (LSE: OCH). The company has offices and reseller representation in North America and Europe, and provides 24/7 customer support in both regions. Orchestream's customers are service providers such as NTT NTT Nippon Telegraph and Telephone Corporation NTT New Technology Telescope NTT National Technology Transfer, Inc NTT Name That Tune (TV game show) NTT National Tree Trust NTT Number Theoretic Transform (Europe), Energis and Global Crossing (Europe). About CrossKeys Systems Corporation CrossKeys Systems Corporation (www.crosskeys.com) develops software that makes the Internet works for business. The world's largest and fastest growing service providers manage the equipment, traffic and service on their telecom networks with CrossKeys. CrossKeys Systems Corporation is a public company whose common shares are listed for trading on NASDAQ (CKEY) in the United States and on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (CKY) in Canada. CrossKeys, its logo and CrossKeys Resolve are registered trademarks. All other trademarks are the property of their respective holders and are acknowledged by CrossKeys Systems Corporation. |
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