OTTAWA, March 9, 2015 (GLOBE NEWSWIRE) -- The Strategy Committee of the Board of Directors of International Datacasting Corporation (TSX:IDC), a technology provider for the world's premiere broadcasters, today announced that subsequent to the Corporation's news release issued on February 10th, 2015 regarding the exploration of strategic alternatives, it has investigated several alternatives to optimize the value of IDC.
Work is well advanced to analyze the alternatives and to prepare a recommendation to shareholders. A further update will be issued within the next few weeks.
As part of the process, the Corporation's President and CEO, Mr. Doug Lowther, will be leaving IDC. In order to enable a seamless transition, Mr. Lowther will continue to serve as President and CEO to support the implementation of the Strategy Committee's recommendation, and also continues as a Director of the Corporation. Christopher Van Staveren, the Chairman of the Board and the Chairman of the Strategy Committee, stated: "We thank Doug for his ongoing commitment to IDC, and look forward to his support in completing the work of the Strategy Committee."
Publicly available investor information for IDC is available via the Corporation's website as well as at www.sedar.com.
About International Datacasting Corporation:
International Datacasting Corporation (TSX:IDC) is a technology provider for the world's premiere broadcasters in radio, television, data and digital cinema. IDC's products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, satellite news gathering, sports contribution, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, with regional offices in Arnhem, the Netherlands and in San Diego, California. For more information visit: www.datacast.com.
This press release contains certain information that may constitute "forward-looking information" and/or "forward-looking statements" within the meaning of applicable Canadian securities laws including, without limitation, statements as to a potential acquisition of IDC's business and the activities of the Strategy Committee. All forward-looking information and forward-looking statements are subject to risks and uncertainties. In particular, there can be no assurance an acquisition of IDC or its business will be announced, or if announced, will proceed or close. As a result of this risk and other risks and uncertainties, forward-looking statements may not prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. More detailed information about potential factors that could affect forward-looking statements is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com, including, without limitation, IDC's Annual Information Form and MD &A for the year ended January 31, 2014, and our MD &A for the quarter ended October 31, 2015.
Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided help external stakeholders to understand IDC's expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.
For more information, contact:
International Datacasting Corporation
CONTACT: Doug Lowther International Datacasting Corporation +1-613-596-2400 x2211 firstname.lastname@example.org
Source:International Datacasting Corporation