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One hundred percent of the votes cast by stockholders, in person or by proxy,
were in favor of the Merger (representing approximately 71% of the outstanding
shares of Hostopia common stock). No Hostopia stockholders have exercised rights
of dissent in connection with the Merger
The transaction is valued at approximately CDN$124 million and was previously
announced by Deluxe and the Company on June 19, 2008. Further details of the
Merger and Merger Agreement are set out in the Company's management information
circular dated June 27, 2008.
In accordance with the terms of the Merger
Agreement, the transaction closed shortly after the stockholder vote and a
certificate of merger has been filed with the Delaware Secretary of State, under
which the merger is to become effective as of 12:01 a.m. on August 6, 2008 (the
"Effective Time"). At the Effective Time, Deluxe, through a wholly-owned
subsidiary, will acquire all of the issued and outstanding shares of the
Company's common stock at a cash price of CDN $10.55 per share.
The
Company's shares of common stock will be halted from trading on the Toronto
Stock Exchange at the opening of trading on August 6, 2008 and will remain
halted until the close of trading on August 6, 2008, at which time the shares
will be de-listed.
On or about August 12, 2008, letters of transmittal
will be mailed to the Company's stockholders of record as of the close of
business on August 5, 2008, requesting them to forward the duly completed and
executed letters of transmittal together with the certificate(s) representing
their shares of the Company's common stock to Wells Fargo Bank, N.A. in St.
Paul, Minnesota in order to receive the cash to which they are entitled.
Non-registered beneficial stockholders, whose shares are held in an account at a
financial intermediary, such as a brokerage firm, bank or dealer, will not be
sent a letter of transmittal and will receive the cash to which they are
entitled through their financial intermediary.
About Hostopia.com
Inc.
Hostopia.com Inc. is a leading provider of web services that
enable small and medium-sized businesses to establish and maintain an Internet
presence. Hostopia's customers are communication services providers, including
telecommunication carriers, cable companies, internet service providers, domain
registrars, and web hosting service providers. Hostopia's customers purchase its
web services on a wholesale basis and resell these services under their own
brands to small and medium-sized businesses. Hostopia provides customers with
the technology, infrastructure, and support services to enable them to offer web
services, while saving them research and development as well as capital and
operating costs typically associated with the design, development, and delivery
of web services.
About Deluxe Corporation
Deluxe
Corporation, through its industry-leading businesses and brands, helps financial
institutions and small businesses better manage, promote, and grow their
businesses. Deluxe uses direct marketing, distributors, and a North American
sales force to provide a wide range of customized products and services:
personalized printed items (checks, forms, business cards, stationery, greeting
cards, labels, and retail packaging supplies), promotional products and
merchandising materials, fraud prevention services, and customer retention
programs. Deluxe also sells personalized checks and accessories directly to
consumers. For more information about Deluxe Corporation, visit www.Deluxe.com.
Source: www.webhostdir.com
