Asure Software Cancels Special Stockholders Meeting
June 01 2009 - 6:30PM
Marketwired
Asure Software (NASDAQ: ASUR) -- The Board of Directors has
unanimously voted to cancel the Special Stockholders Meeting
scheduled for June 2, 2009. The meeting was originally called for
the purpose of allowing the stockholders to vote on the Board's
proposal to privatize the company which, in the Board's estimation,
would save the company in excess of $1 Million a year in expense
for support and services related to being publicly traded and
listed on NASDAQ. While there is in fact substantial Stockholder
support for the Board's proposal, based on the total Stockholder
Proxies received to date, it is apparent that the proposal will not
receive sufficient votes to carry, due in large part to Stockholder
concerns about the loss of liquidity. As a substantial majority of
the Stockholders have now made their preference known, the Board
has decided to cancel the meeting in order to save the associated
expenses.
In addition, the company announced that it will hold its annual
shareholder meeting on July 30, 2009.
About Asure Software
Headquartered in Austin, Texas, Asure Software (ASUR), (a d/b/a
of Forgent Networks, Inc.), empowers small to mid-size
organizations and divisions of large enterprises to operate more
efficiently, increase worker productivity and reduce costs through
a comprehensive suite of on-demand workforce management software
and services. Asure's market-leading suite includes products that
optimize workforce time and attendance tracking, benefits
enrollment and tracking, pay stubs and W2 documentation and meeting
and event management. With additional offices in Warwick, Rhode
Island, Vancouver, British Columbia, and Mumbai, India, Asure
serves 3,500 customers around the world. For more information,
please visit www.asuresoftware.com.
Statements in this press release regarding Asure's business
which are not historical facts are "forward-looking statements"
that involve risks and uncertainties. Such risks and uncertainties
include those associated with continued listing of the Company's
securities on the NASDAQ Capital Market.
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