20-20 TECHNOLOGIES CALLS REQUISITIONED SPECIAL MEETING OF SHAREHOLDERS
LAVAL, QC, Oct. 27 /CNW Telbec/ - 20-20 Technologies Inc. (TSX:TWT) ("20-20" or the "Company") announced today a special meeting of the shareholders of the Company to be held on December 21, 2010 (the "Meeting").
As of this morning, the Company further issued a press release confirming that its four largest shareholders, respectively Gestion Mignault, Desjardins, la Caisse de dépôt et placement du Québec and Société financière Bourgie, exercising voting control over a number of shares which, when taken collectively, represents approximately 58% of the issued and outstanding shares of the Company, have independently communicated their formal opposition to the previously announced requisition (the "Requisition") received on October 15, 2010 from Crescendo Partners ("Crescendo").
However, in accordance with applicable laws, the Meeting has been called as per the Requisition. The business to be transacted at the Meeting will be to vote on whether to remove three current directors and elect the three individuals nominated by Crescendo in replacement.
Further details, including the exact time and location of the Meeting and record date will be announced in due course and will be contained in a formal notice of meeting and management information circular to be mailed to shareholders and filed on SEDAR at www.sedar.com prior to the Meeting. Shareholders are encouraged to read the documents carefully and in their entirety once available.
About 20‐20 Technologies Inc.
20‐20 Technologies is the world's leading provider of computer‐aided design and business software solutions, tailored for the interior design and furniture industries. Dealers and retailers use its desktop and Web‐based products and solutions for the Home and Office markets. 20‐20 offers a unique, proprietary, end‐to‐end solution, integrating the entire breadth of functions in interior design. It provides a bridge for data communication from the point‐of‐sale to manufacturing and to world‐leading enterprise resource planning (ERP) systems, including computer‐aided engineering and plant floor automation software. Operating in twelve countries with more than 500 employees, 20‐20 is a publicly‐traded company (TWT) on the Toronto Stock Exchange (TSX). For more information, visit www.2020technologies.com
For further information:
MaisonBrison
Pierre Boucher
(514) 731‐0000
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