MTS/Allstream acquisition deposit deadline to submit letters of transmittal extended to JUNE 1, 2004
May 26 2004 - 6:08PM
PR Newswire (US)
MTS/Allstream acquisition deposit deadline to submit letters of
transmittal extended to JUNE 1, 2004 TORONTO, May 26
/PRNewswire-FirstCall/ -- Allstream Inc. (TSX:ALR.A; ALR.B; NASDAQ:
ALLSA; ALLSB ) ("the Company" or "Allstream") announced today that
the deposit date for holders of Allstream's Class A Voting and
Class B Limited Voting Shares to submit completed letters of
transmittal and Allstream share certificates in exchange for MTS
shares and cash has been extended to June 1, 2004 from the previous
deposit date of May 27, 2004. The deposit deadline has been
extended in accordance with the Plan of Arrangement in order to
provide Allstream shareholders with additional time to deposit
their letters of transmittal. It is anticipated that the closing of
the Arrangement Transaction will occur in early June, in accordance
with the terms and conditions of the Arrangement Agreement.
Allstream shareholders should complete the letter of transmittal
and deliver it with share certificates to CIBC Mellon Trust Company
by 5:00 p.m. (Toronto time) on June 1, 2004, in accordance with the
instructions contained in the letter of transmittal. Failure to
deliver a duly completed letter of transmittal by such time (or the
delivery of a letter of transmittal which does not contain a
declaration of Canadian residency), will result in the
disentitlement to receive common shares of MTS upon the
consummation of the transaction. Shareholders who have already
deposited completed letters of transmittal and share certificates
do not need to re-submit. About Allstream Allstream is a leading
communication solutions provider with a world-class portfolio of
Connectivity, Infrastructure Management and IT Services. Focused on
the Business market, Allstream collaborates with customers to
create tailored solutions that meet their unique needs and help
them compete more effectively. Spanning more than 18,800
kilometres, Allstream has an extensive broadband fibre-optic
network and the greatest reach of any competitive communication
solutions provider in Canada, and provides international
connections through strategic partnerships and interconnection
agreements with other international service providers. Allstream is
a public company with its stock traded on the Toronto Stock
Exchange under the symbols ALR.A and ALR.B and the NASDAQ National
Market system under the symbols ALLSA and ALLSB. Visit Allstream's
website, http://www.allstream.com/ for more information about the
company. Note to Allstream Investors This news release includes
statements about expected future events and/or financial results
that are forward-looking in nature and subject to risks and
uncertainties. For those statements, we claim the protection of the
safe harbor for forward-looking statements provisions contained in
the United States Private Securities Litigation Reform Act of 1995.
The Company cautions that actual performance will be affected by a
number of factors, many of which are beyond the Company's control,
and that future events and results may vary substantially from what
the Company currently foresees. Discussion of the various factors
that may affect future results is contained on page 1 of the
Company's Annual Information Form dated April 8, 2004, which is
filed with the Securities and Exchange Commission, the Ontario
Securities Commission, and SEDAR. DATASOURCE: Allstream Inc.
CONTACT: Media: May Chong, Allstream, (416) 345-2342, ; Investors
and Analysts: Brock Robertson, (416) 345-3125, ; Dan Coombes, (416)
345-2326,
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