DATA Group Ltd. announces the completion of an internal reorganization and name change
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.