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Miranda Acknowledges Belden Takeover Offer Successful(July 24, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 07/25/12 -- Miranda Technologies Inc. (TSX:MT) ("Miranda"or the "Corporation") announced today that that more than 21 million common shares (the "Miranda Shares") of Miranda representing approximately 95% of the outstanding Miranda Shares have been deposited to the offer by Belden Inc. ("Belden"), through its wholly-owned subsidiary, Belden CDT (Canada) Inc., to acquire all of the Miranda Shares at a price of C$17.00 per Miranda Share by way of a takeover bid (the "Offer") and that the Offer has expired.
As all of the conditions of the Offer have been satisfied or waived, Belden has taken up all such deposited shares. Belden has announced that payment for the deposited shares will be made on or before July 27, 2012 to Computershare Investor Services Inc., as depository under the Offer, for payment to Miranda shareholders who have validly deposited their Miranda Shares to the Offer.
As more than 90% of the outstanding Miranda Shares were deposited to the Offer, Belden has announced that it intends to acquire all of the remaining Miranda Shares not deposited to the Offer pursuant to the compulsory acquisition provisions of the Business Corporations Act (Quebec). Belden has also announced that it intends to cause the Miranda Shares to be de-listed from the Toronto Stock Exchange and to cause Miranda to cease to be a reporting issuer under applicable securities laws as soon as possible.
Miranda Technologies is a leading worldwide provider of hardware and software solutions for the television broadcast, cable, satellite and IPTV industry. Its solutions span the full breadth of television operations, including production, playout, and delivery.
With a wealth of experience in delivering IT-based and traditional television systems, Miranda is uniquely positioned to help customers enhance their facilities, while generating additional revenue, reducing costs and streamlining operations.
For over 22 years, Miranda's growth has been driven by continuous innovation, along with close customer partnerships focused on helping them achieve their business objectives. To deliver this support, Miranda employs approximately 700 people globally, in both developed and emerging markets. Miranda's head office is located in Montreal, and it has regional facilities in the United States, the United Kingdom, France, the United Arab Emirates, Japan, Malaysia, Singapore, Hong Kong and mainland China. A public company since December 6 2005, Miranda's shares (TSX:MT) are traded on the Toronto Stock Exchange. More information on the Corporation can be found at www.miranda.com.
Miranda Technologies Inc.
Contacts: Investors and Media
Chief Financial Officer
Miranda Technologies Inc.
Tel.: (514) 333-1772
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