Hearing rescheduled in respect of final court approval of Hummingbird Ltd. arrangement
September 21 2006 - 2:44PM
PR Newswire (US)
TORONTO, Sept. 21 /PRNewswire-FirstCall/ -- Hummingbird Ltd.
(NASDAQ:HUMCNASDAQ: TSX:NASDAQ:HUM) announced today that the
hearing in respect of the final court approval of the proposed
arrangement of Hummingbird and a wholly-owned subsidiary of Open
Text Corporation (NASDAQ:OTEXNASDAQ:TSX:NASDAQ:OTC) has been
rescheduled at the request of the Superior Court of Justice of
Ontario. The hearing, which was originally scheduled for Friday,
September 22, 2006, will now occur on Tuesday, September 26, 2006,
at 10:00 a.m. (Toronto time) in the Superior Court of Justice of
Ontario (Commercial List) at 330 University Avenue, Toronto,
Ontario. If court approval is obtained and the other conditions to
closing are satisfied or waived, the transaction is expected to
close on October 2, 2006. The closing of the transaction is subject
to court approval in Canada as well as the satisfaction or waiver
of the other conditions specified in the arrangement agreement
between Hummingbird, Open Text and a subsidiary of Open Text. About
Hummingbird Hummingbird (NASDAQ:HUMCNASDAQ:TSX:NASDAQ:HUM) is a
leading global provider of enterprise software solutions. The
Company's enterprise software solutions fall into two principal
categories: enterprise content management (ECM) solutions, and
network connectivity solutions. Hummingbird's ECM solutions enable
organizations to manage the lifecycle of enterprise content from
creation to disposition, thereby enabling organizations to address
critical business needs, such as information management, business
continuity, compliance and risk mitigation. The network
connectivity solutions provide a comprehensive set of core network
technologies that enables the enterprise to connect to any type of
legacy system. Founded in 1984, Hummingbird employs over 1,400
people and serves more than 33,000 customers, including 90% of
Fortune 100. Hummingbird solutions are sold directly from 40
offices worldwide and through an Alliance Network of partners and
resellers. For more information, visit http://www.hummingbird.com/.
Forward-Looking Statements Forward-looking statements in this press
release, including statements relating to the date of court
approval and the closing date for the transaction, are made
pursuant to the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based on assumptions made by and information
currently available to Hummingbird. Investors are cautioned that
these forward-looking statements are subject to risks and
uncertainties that may cause future results to differ materially
from those expected. Such risks include, but are not limited to
Hummingbird's ability to close the transaction in the time period
anticipated, if at all, which is dependent upon Hummingbird's
ability to receive the requisite regulatory approvals and to comply
with the closing conditions to the transactions, some of which are
beyond Hummingbird's control. Forward-looking statements are based
on management's current plans, estimates, opinions and projections,
and Hummingbird does not assume any obligation to update
forward-looking statements if assumptions related to these plans,
estimates, opinions and projections should change. DATASOURCE:
Hummingbird Ltd. CONTACT: Inder Duggal, Chief Financial Officer,
Hummingbird Ltd., Tel: (416) 496-2200 ext.2205, ; Dan Coombes,
Director, Investor Relations, Hummingbird Ltd., Tel: (416) 496-2200
ext. 6359, ; Michele Stevenson Senior Manager, Corporate
Communications, Hummingbird Ltd., Tel: (416) 496-2200 ext. 2623,
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