Microtec responds to Securex offer
March 18, 2004
ST-AUGUSTIN, Quebec - Microtec Enterprises, a provider of security and home automation services here, has learned that Securex Investments commenced an unsolicited Ã¢â‚¬Å“mini-tenderÃ¢â‚¬Â offer to purchase up to 971,050 of MicrotecÃ¢â‚¬â„¢s subordinate voting shares, which accounts for almost 20 percent of all outstanding voting shares.
According to a Securex press release, the company, which provides financial services to the security monitoring industry, tendered the offer in an effort to begin a strategic alliance with Microtec.
Microtec announced earlier this week that the company is not associated with Securex and the offer, or the offerÃ¢â‚¬â„¢s documentation. Microtec also advised its shareholders that they should exercise caution with respect to the unsolicited offer and should consult their financial advisors regarding any concerns.