Captaris Extends Deadline for Nominating Directors to the Board
March 30 2008 - 7:45PM
PR Newswire (US)
Special Committee of Independent Directors Continues to Evaluate
Strategic Alternatives BELLEVUE, Wash., March 30
/PRNewswire-FirstCall/ -- Captaris, Inc. (NASDAQ:CAPA), a leading
provider of software products that automate document-centric
processes today announced that it has amended the Company's bylaws
to extend the deadline for nominating directors to Captaris' Board
from April 8, 2008 to the date that is 10 days following the public
announcement of the date for Captaris' 2008 annual meeting of
shareholders. Captaris has not yet announced the date for its 2008
annual meeting and the amendment does not preclude any shareholder
from nominating directors at any time prior to the new deadline.
This action will allow shareholders more time to decide whether to
nominate an alternate slate of directors or not. Captaris' Board of
Directors believes that conducting a thorough evaluation of
strategic alternatives to enhance value without the interruption
and distraction of a proxy contest is in the best interest of
Captaris shareholders. Captaris has retained RBC Capital Markets as
its financial advisor; in addition to RBC, Credit Suisse continues
to be engaged as financial advisor. Perkins Coie LLP and Simpson
Thacher & Bartlett LLP are acting as the Company's and the
Board's legal advisors, respectively. Certain statements in this
press release are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, including,
without limitation, statements regarding evaluation of strategic
alternatives. Forward-looking statements include all passages
containing verbs such as "anticipates," "estimates," "expects,"
"intends" or "plans," or nouns corresponding to such verbs.
Forward-looking statements also include any other passages that are
primarily relevant to expected future events or that can only be
evaluated by events that will occur in the future. Forward-looking
statements are based on the opinions and estimates at the time the
statements are made and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those anticipated in the forward- looking statements. Factors
that could affect the outcome of our evaluation process is the
level of interest expressed by parties in pursuing a transaction,
general market conditions, availability of financing, Captaris'
ongoing performance and other factors. Information about factors
that potentially could affect Captaris' financial results is
included in Captaris' most recent annual report on Form 10-K filed
with the Securities and Exchange Commission. Readers are cautioned
not to place undue reliance upon these forward-looking statements
that speak only as to the date of this release. Except as required
by law, Captaris undertakes no obligation to update any
forward-looking or other statements in this press release, whether
as a result of new information, future events or otherwise. About
Captaris, Inc. Captaris, Inc. is a leading provider of software
products that automate document centric business processes.
Captaris specializes in document capture, recognition, routing,
workflow, and delivery. Captaris integrated solutions provide
interoperability with leading line of business applications and
technology platforms. Captaris products include RightFax, Captaris
Workflow, Alchemy, FaxPress, DOKuStar, RecoStar, Single Click
Entry, and ID-Star which are distributed through a global network
of leading technology partners. Captaris customers include the
entire Fortune 100 and the majority of Global 2000 companies.
Headquartered in Bellevue, Washington, Captaris was founded in 1982
and is publicly traded on NASDAQ Global Market under the symbol
CAPA. http://www.captaris.com/. The following are registered
trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax,
FaxPress and Captaris Workflow. RecoStar, DOKuStar, ID-Star and
Single Click Entry are trademarks of Captaris Document Technologies
GmbH. All other brand names and trademarks are the property of
their respective owners. CONTACT: Investors Peter Papano, Captaris,
Inc., +1-425-638-4200, ; or Todd Kehrli, MKR Group, Inc.,
+1-323-468-2300, ; or Tim Lynch, Joele Frank, Wilkinson Brimmer
Katcher, +1-212-355-4449, DATASOURCE: Captaris, Inc. CONTACT:
Investors, Peter Papano, Captaris, Inc., +1-425-638-4200, ; Todd
Kehrli, MKR Group, Inc., +1-323-468-2300, ; Tim Lynch, Joele Frank,
Wilkinson Brimmer Katcher, +1-212-355-4449, Web site:
http://www.captaris.com/
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