Microtec responds to Securex offer

SSN Staff  - 
Friday, March 18, 2005

ST-AUGUSTIN, Quebec - Microtec Enterprises, a provider of security and home automation services here, has learned that Securex Investments commenced an unsolicited “mini-tender” offer to purchase up to 971,050 of Microtec’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 offer’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.