Quorum Information Technologies Announces Share Delisting Plans
CALGARY, Alberta — Quorum Information Technologies Inc. (TSX-V: QIS) has announced significant changes regarding its stock. The company will be delisting its common shares from the TSX Venture Exchange, effective at the close of trading on a specified date shortly in the future. This decision is a notable development for both the company and its shareholders.
Details on the Delisting
The delisting follows the successful completion of an arrangement which involved 2745122 Alberta Inc., an affiliate of Valsoft Corporation Inc. This merger process has resulted in all outstanding shares of Quorum being acquired for a cash consideration of $0.80 per share. Consequently, Quorum is now entirely owned by the Purchaser, marking a pivotal transition in the company's structure.
Next Steps for Quorum
As Quorum transitions out of the public market, it will also apply to cease being a reporting issuer in all relevant Canadian jurisdictions. Once the delisting takes effect, Quorum’s shares will no longer be available for trading across any Canadian marketplaces.
Shareholder Instructions
For registered shareholders, submission of share certificates or DRS advices is necessary to receive the cash consideration due. Guidance on how to complete this process is provided in the previously distributed Letter of Transmittal, which can also be retrieved on SEDAR+ under Quorum’s profile.
About Quorum Information Technologies Inc.
Quorum is a North American SaaS software and services company focused on delivering essential solutions tailored for automotive dealerships and Original Equipment Manufacturers. With their impressive array of offerings, Quorum helps dealerships streamline operations, thereby enhancing their efficiency and customer satisfaction.
Key Offerings
Among their prominent solutions is Quorum's Dealership Management System (DMS), which plays a critical role in automating and integrating vital processes across various dealership departments, focusing on revenue generation. The company also presents DealerMine CRM, a system designed to facilitate sales and service management effectively, thus contributing substantially to dealership growth.
Innovative Platforms
Furthermore, Quorum's Autovance platform enhances digital retailing efforts, helping dealerships attract new business while optimizing in-store profitability. Additionally, Accessible Accessories offers a robust solution specifically aimed at increasing dealership revenues through vehicle accessory sales.
Engagement with the Market
Quorum also offers VINN Automotive, a premier marketplace designed to enhance the vehicle shopping experience for consumers while streamlining rental procedures for retailers. This comprehensive approach helps Quorum maintain its competitive edge in the automotive industry.
Contact Information
For more inquiries regarding Quorum Information Technologies Inc., interested parties may reach out to:
Maury Marks
President and Chief Executive Officer
Phone: 403-777-0036
Email: Maury.Marks@QuorumInfoTech.com
Marilyn Bown
Chief Financial Officer
Phone: 403-777-0036
Email: Marilyn.Bown@QuorumInfoTech.com
Frequently Asked Questions
What is the reason behind Quorum's delisting?
The delisting is due to the completion of a merger with 2745122 Alberta Inc., making Quorum wholly owned by this new entity.
When will the delisting be effective?
The effective date of delisting is set for the close of trading on a specified date in the near future.
What do shareholders need to do following this announcement?
Shareholders must surrender their share certificates or DRS advices to receive cash compensation as outlined in the Letter of Transmittal.
Will Quorum continue to operate post-delisting?
Yes, Quorum will continue its operations as a wholly owned private company after the delisting.
How can I get more information about Quorum's offerings?
For comprehensive details on Quorum’s products and services, you can visit their corporate website.
