IASG Stockholders Approve Merger with Protection One, Inc.
March 27 2007 - 3:43PM
Business Wire
Integrated Alarm Services Group, Inc. (NASDAQ: IASG) a total
solution provider to independent security alarm dealers located
throughout the United States, announced results of its special
meeting of stockholders held March 27, 2007. In a meeting held in
Albany, New York, IASG stockholders adopted the agreement and plan
of merger entered into on December 20, 2006 by IASG with Protection
One, Inc. of Lawrence, Kansas. Approximately 17.7 million shares of
IASG common were represented at the special meeting of
shareholders, which represents approximately 72.8 percent of the
shares outstanding and entitled to vote. Approximately 99.9 percent
of the shares present at the meeting approved the merger. In
announcing the shareholder meeting results, John Mabry, Chairman of
IASG, said, �I am pleased by this strong vote of support by our
shareholders for the merger. The combination of IASG and Protection
One creates a very powerful enterprise in the security alarm
business. The combination creates a truly national enterprise with
market leading positions in residential, commercial and wholesale
alarm monitoring.� Upon completion of the merger, IASG stockholders
will receive 0.29 of a share of Protection One common stock for
each share of common stock owned at the time of the merger.
Protection One and IASG expect to complete the merger promptly
after receipt of all necessary regulatory approvals and
satisfaction of certain closing conditions. The closing is
scheduled for April 2, 2007. About IASG Integrated Alarm Services
Group provides total integrated solutions to independent security
alarm dealers located throughout the United States to assist them
in serving the residential and commercial security alarm market.
IASG�s services include alarm contract financing including the
purchase of dealer alarm contracts for its own portfolio and
providing loans to dealers collateralized by alarm contracts. IASG,
with approximately 4,000 independent dealer relationships, is also
the largest wholesale provider of alarm contract monitoring and
servicing. For more information about IASG please visit our web
site at http://www.iasg.us. This press release may contain
statements, which are not historical facts and are considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements contain projections of IASG�s future results of
operations, financial position or state other forward-looking
information. In some cases you can identify these statements by
forward looking words such as �anticipate�, �believe�, �could�,
�estimate�, �expect�, �intend�, �may�, �should�, �will�, and
�would� or similar words. You should not rely on forward-looking
statements because IASG�s actual results may differ materially from
those indicated by these forward looking statements as a result of
a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business
strategy for expanding our presence in our industry; anticipated
trends in our financial condition and results of operation; the
impact of competition and technology change; existing and
regulations effecting our company and business, and other risks and
uncertainties discussed under the heading �Risks Related to our
Business� in IASG�s Form 10-K report for the period ending December
31, 2006 as filed with the Securities and Exchange Commission on
March 16, 2007, and other reports IASG files from time to time with
the Securities and Exchange Commission. IASG does not intend to and
undertakes no duty to update the information contained in this
press release.
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