Concurrent Stockholders Approve Proposal to Sell Content Delivery & Storage Business to Vecima Networks
13 Diciembre 2017 - 3:35PM
The stockholders of Concurrent (NASDAQ:CCUR), a global leader
in storage, protection, transformation, and delivery of visual
media assets, have approved all proposals presented at a special
meeting of its stockholders held on December 13, 2017. The
proposals related to the sale of Concurrent’s content delivery and
storage business to Vecima Networks Inc. (TSX:VCM).
Derek Elder, President and CEO of Concurrent, commented, “The
Board of Directors and our management team appreciate the
overwhelming support of our proposals from Concurrent’s
stockholders. We expect to close the announced transaction
with Vecima Networks by the end of the calendar year. The
investment committee established by the Board of Directors will
continue to evaluate options to maximize the value of the Company’s
remaining assets after the close of the sale to Vecima.”
The specific voting results for each of the proposals considered
at the special stockholder’s meeting are provided in Form 8-K filed
by Concurrent on December 13, 2017.
About Concurrent Concurrent (NASDAQ:CCUR) is a
global company that develops software solutions focused on storing,
protecting, transforming, and delivering visual media assets. We
serve industries and customers that demand uncompromising
performance, reliability and flexibility to gain a competitive
edge, drive meaningful growth and confidently deliver best-in-class
solutions that enrich the lives of millions of people around the
world every day. Offices are located in North America, Europe
and Asia. Visit www.concurrent.com for further
information and follow us on Twitter:
www.twitter.com/Concurrent_CCUR.
Forward Looking Statements
Certain statements in this communication and the
documents referenced herein constitute forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements are often identified
by words such as “anticipate,” “believe,” “intend,” “estimate,”
“expect,” “see,” “continue,” “could,” “can,” “may,” “will,”
“likely,” “depend,” “should,” “would,” “plan,” “predict,” “target,”
and similar expressions, and may include references to assumptions
and relate to Concurrent’s future prospects, developments and
business strategies. Except for the historical information
contained herein, the matters discussed in this communication are
forward-looking statements that involve risks and uncertainties
that may cause Concurrent’s actual results to be materially
different from such forward-looking statements and could materially
adversely affect its business, financial condition, operating
results and cash flows. These risks and uncertainties include the
occurrence of any event, change or other circumstances that could
give rise to the termination of the Asset Purchase Agreement; or
required third party consents or the failure to satisfy any of the
other closing conditions to the Asset Purchase Agreement; potential
disruption of management’s attention from Concurrent’s ongoing
business operations due to the transaction; the effect of the
announcement of the Asset Purchase Agreement on the ability of
Concurrent to retain and hire key personnel and maintain
relationships with its customers, suppliers and others with whom it
does business, or on its operating results and business generally;
general business conditions; changes in overall economic conditions
that impact consumer spending; the impact of competition; and other
factors which are often beyond the control of Concurrent, as well
other risks listed in the definitive proxy statement filed on
November 6, 2017 or Concurrent’s Form 10-K filed September 20, 2017
with the Securities and Exchange Commission and risks and
uncertainties not presently known to Concurrent or that Concurrent
currently deems immaterial. Concurrent wishes to caution you that
you should not place undue reliance on such forward-looking
statements, which speak only as of the date on which they were
made. Concurrent does not undertake any obligation to update
forward-looking statements, except as required by law.
Media Relations: Sandra Dover
(678) 258-4112 Sandra.dover@concurrent.com
Investor Relations:Doug Sherk (415)
652-9100dsherk@evcgroup.com
Todd Kehrli (310) 625-4462tkehrli@evcgroup.com
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