BRAMPTON, ON, Jan. 1, 2014 /CNW/ - DATA Group Ltd. (formerly DATA Group Inc.) (" DATA Group") (TSX: DGI) announced that it has completed an internal reorganization that simplifies DATA Group's corporate structure. Pursuant to the internal reorganization, DATA Group Inc. amalgamated with its Canadian subsidiaries to form a new corporation called "DATA Group Ltd.". The amalgamation became effective on January 1, 2014. Pursuant to the amalgamation, all of the issued and outstanding shares of DATA Group Inc.'s Canadian subsidiaries were cancelled and the assets and liabilities of the amalgamating corporations became the assets and liabilities of DATA Group Ltd. No securities were issued in connection with the amalgamation and the authorized and issued share capital of DATA Group Ltd. is the same as that of DATA Group Inc. immediately prior to the amalgamation becoming effective.
DATA Group Ltd. also assumed all of the covenants and obligations of DATA Group Inc. under its outstanding 6.00% convertible unsecured subordinated debentures.
The reorganization will not have any significant effect on the business and operations of DATA Group Inc. and its subsidiaries, which will now be carried on by DATA Group Ltd.
The common shares of DATA Group Ltd. will trade under the symbol "DGI". The convertible debentures of the amalgamated corporation will trade under the symbol "DGI.DB.A".About DATA Group Ltd. DATA Group Ltd. is a managed business communications services company specializing in customized document management and marketing solutions. DATA Group develops, manufactures, markets and supports integrated web and print-based communications, information management and direct marketing products and services that help its customers reduce costs, increase revenues, maintain brand consistency and simplify their business process. DATA Group's expertise and resources enable it to address any document requirement of its customers, from a simple mail-out to an enterprise-wide document management or direct marketing initiative. We have approximately 1,800 employees working from 35 locations across Canada and the United Sates to accomplish this. Additional information relating to DATA Group Ltd. is available on www.datagroup.ca and in the disclosure documents filed by DATA Group Ltd. and its predecessor on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. SOURCE DATA Group Ltd.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV