JumpTV has scheduled its special meeting of shareholders to approve the Company's planned merger with
NeuLion, as first announced on June 9, 2008, to occur on October 17, 2008 at 9:00 a.m. JumpTV intends to mail to shareholders the notice of meeting and management information circular prepared in connection with the merger on September 26, 2008, and will file the document on SEDAR and post it on its website at www.jumptv.com concurrently, in connection with the company's receipt of conditional approval of the information circular from the Toronto Stock Exchange.
At the meeting, JumpTV shareholders will be asked to approve:
- the resolutions in connection with the merger set out in the
information circular;
- the private placement with AvantaLion LLC, an entity controlled by Mr.
Charles Wang, and with Mr. G. Scott Paterson, as set out in the information
circular. Pursuant to the private placement, AvantaLion LLC has
irrevocably committed to subscribe for 10 million units from JumpTV's
treasury at a price of $1.00 per unit, and G. Scott Paterson has also
committed to buy 1 million units on the same terms. Each unit is comprised
of 1 common share of JumpTV common stock, one-half of one common share
purchase warrant exercisable at $1.25 and one-half of one common share
purchase warrant exercisable at $1.50, all warrants being exercisable for
two years following issuance. The aggregate gross proceeds from the units
will be CDN$11 million;
- the cancellation of admission to trading of JumpTV's common shares to
trading on the AIM market of the London Stock Exchange.
Conditional upon shareholders' approval at the special meeting, the company expects to close the merger transaction shortly following the special meeting, and to effect the cancellation of admission to trading on AIM of JumpTV common shares on or around October 29, 2008.