DataMirror Announces Closure of Idion Bid.Business Editors DataMirror (Nasdaq: DMCX) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : DMC DMC Devil May Cry (video game) DMC Detroit Medical Center DMC Darryl McDaniels (rapper) DMC Destination Management Company DMC Del Mar College (Corpus Christi, TX) ), a leading provider of enterprise application integration and resiliency solutions, today announced the closure of it's take-over bid ("the bid") for Idion Technology Holdings Limited ("Idion") effective July 4, 2002. When the bid was announced on March 18, 2002, DataMirror owned approximately 16.6% of Idion's outstanding ordinary ("common") shares acquired at an approximate cost of Cdn. $1,147,000. Over the course of the bid, the Company acquired 22.2% of Idion's outstanding common shares at an approximate cost of Cdn. $6,945,000 and currently holds 38.8% of Idion's outstanding common shares acquired at a cost of approximately Cdn. $8,092,000. The ownership of 1,119,000 or approximately 1% of the shares of Idion (the "Disputed Shares") which are included in this total are subject to a dispute between the Company and a broker acting on behalf of persons related to the 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 Idion. The broker alleges that it did not accept the Company's offer in respect of the Disputed Shares and has instituted legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. against the Company and certain other parties to prevent the settlement of the sale of the Disputed Shares to the Company. About DataMirror DataMirror (Nasdaq: DMCX)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : DMC) delivers LiveBusiness(TM) software solutions that let customers integrate data in real-time across their enterprises. DataMirror's comprehensive product family unlocks the experience of now(TM) by providing the instant data access, integration and availability customers demand today across all computers in their business. Over 1,600 companies use DataMirror to integrate their data. Real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. drives all business. DataMirror is headquartered in Toronto, Canada, and has offices worldwide. DataMirror has been ranked in the Deloitte and Touche Fast 500 as one of the fastest growing technology companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, call 1-800-362-5955 or visit the DataMirror web site at www.datamirror.com. Media and Financial Contacts: Peter Cauley Tracy Staniland Chief Financial Officer Director of Marketing DataMirror Corporation DataMirror Corporation E-mail: pcauley@datamirror.com E-mail: tstaniland@datamirror.com Phone: 905-415-0310 ext. 271 Phone: 905-415-0310 ext. 274 Fax: 905-415-0340 Fax: 905-415-5196 Karen Quatromoni PR Contact Rainier Corporation E-mail: karenq@rainierco.com Phone: 978-464-5302 ext. 150 Fax: 978-464-2968 Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release, including statements regarding DataMirror Corporation's business which are not historical facts, are made pursuant to 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. " provisions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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. Forward-looking statements include statements of estimates, expectations, objectives and plans (financial and otherwise). The words "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Numerous factors affect DataMirror's operating results and could cause DataMirror's actual results to differ materially from the results indicated by this press release or by any forward-looking statements made by, or on behalf of, DataMirror, and there can be no assurance that future results will meet expectations, estimates or projections. These factors include, but are not limited to, the following: variability of quarterly operating results; dependence upon the continued growth and success of DataMirror's software products; competition; the ability to develop, market, support and acquire new products in an environment of rapidly changing technology; dependence upon continued growth in the database and enterprise data integration markets; dependence upon relationships with complementary vendors and distribution channels; the ability to recruit and retain key personnel; risks of international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , currency exchange rate fluctuations and global economic conditions; possible software errors or defects; possible infringement claims by third parties; and other factors discussed in the Company's Annual Information Form and other periodic filings with the United States Securities and Exchange Commission and other regulatory authorities. Copyright 2002 DataMirror Corporation. All rights reserved. DataMirror, LiveAudit, LiveBusiness, iReflect, Transformation Server, iCluster and The experience of now are trademarks or registered trademarks of DataMirror Corporation. All other brand or product names are trademarks or registered trademarks of their respective companies. |
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