AlarmForce Announces Strategic Review
TORONTO, Aug. 2, 2012 /CNW/ - AlarmForce Industries Inc. (TSX: AF) announced today that it has engaged Imperial Capital, LLC ("Imperial Capital") as its financial advisor to assist the Board of Directors with a strategic review of AlarmForce's business and opportunities, including a possible sale of the company. As part of its engagement, Imperial Capital will assist in the identification, evaluation and negotiation of potential transactions.
AlarmForce believes that it is an appropriate time to explore and consider available opportunities for maximizing shareholder value, including a possible sale of the company. The Board of Directors has established a Special Committee comprised of the independent directors to supervise the strategic review. AlarmForce will make further announcements regarding its review as soon as the Board of Directors approves a course of action or as the Board of Directors deems appropriate.
In the meantime, AlarmForce's senior management and employees will continue to focus on day to day operations and building its business for the future.
AlarmForce provides security alarm monitoring, personal emergency response monitoring, video surveillance and related services to residential and commercial subscribers throughout Canada and selected centres across the United States. AlarmForce is a leading provider of two-way voice alarm systems in Canada. More information about the Company's products and services can be found at www.alarmforce.com and www.videorelay.com.
About Imperial Capital
Imperial Capital ("Imperial"), founded in 1997, is a full-service investment bank offering a uniquely integrated platform of services to institutional investors and middle market companies. It provides sophisticated research and sales and trading services to institutional investors and a wide range of investment banking advisory, capital markets and restructuring services to middle market corporate clients. Imperial has focused a large part of its investment banking business on the security industry and has developed deep sector knowledge and has extensive contact with leading security companies and investors worldwide. Imperial has participated in many different transactions within the security industry acting as an advisor on both the buy and the sell side as well as involvement in numerous capital markets transactions in the industry. More information about Imperial Capital can be found at www.imperialcapital.com.
This news release may include forward-looking information including opinions, assumptions, estimates, management's views and expectations, the planned strategic review of AlarmForce's business and opportunities and the identification, evaluation and negotiation of potential transactions, if any. When used in this document, the words "believe," "may," "will" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although AlarmForce believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. In addition, there can be no assurance that a transaction (including a sale of AlarmForce) will result from the strategic review and if a transaction is proposed, there can be no assurance that it will be completed as proposed or at all. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to the state of domestic capital markets, delays resulting from inability to obtain required regulatory approvals, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by AlarmForce with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, as no assurances can be given as to future results, levels of activity or achievements. Except as required by applicable securities laws, AlarmForce does not undertake any obligation to publicly update or revise any forward-looking statements.
SOURCE Alarmforce Industries Inc.