Toronto, Candada – March 5, 2010 - Actuate Corporation ("Actuate") (NASDAQ: ACTU), the people behind BIRT™, is pleased to announce that as of 11:59 p.m. (Toronto time) on March 5, 2010, its wholly-owned subsidiary Actuate Canada International Corporation ("ACIC") will acquire all of the remaining common shares (the "Common Shares") of Xenos Group Inc. ("Xenos") (TSX:XNS) not deposited under its previously announced offer to purchase all of the issued and outstanding Common Shares for CAD $3.50 per share in cash (the "Offer"). ACIC will acquire the remaining Common Shares pursuant to the compulsory acquisition commenced on February 3, 2010. Upon completion of this compulsory acquisition, ACIC shall own 100% of the issued and outstanding Common Shares.
The notice of compulsory acquisition and transmittal and election form were mailed to shareholders on February 3, 2010. Shareholders of Xenos will receive CAD $3.50 in cash for each Common Share that is subject to compulsory acquisition. Checks will be sent to all shareholders who have delivered their share certificate(s) to CIBC Mellon Trust Company; the depositary for the Offer, together with, and in accordance with, the instructions set out in the transmittal and election form that accompanied the notice of compulsory acquisition. Any shareholder that has not delivered such share certificate(s) and transmittal and election form to the depositary must do so in order to receive the payment to which they are entitled.
As of the close of markets on March 5, 2010, the Common Shares will cease to be listed for trading on the Toronto Stock Exchange. Actuate intends to cause Xenos to file with the applicable Canadian securities regulatory authorities the necessary documentation to cease to be a reporting issuer in all Canada as soon as is reasonably practicable.
Copies of the notice of compulsory acquisition and transmittal and election form are available from the Depositary or on the Canadian Securities Administrators' website at www.sedar.com.
Shareholders with questions about the transaction or how to deliver their share certificates and transmittals should contact the depositary, toll-free at 1-800-387-0825.
Xenos – An Actuate Company
Xenos (TSX:XNS) provides high-performance solutions that optimize enterprise content management (ECM) implementations by streamlining the movement of information across the enterprise and slashing document storage costs. Xenos solutions, based on the scalable Xenos Enterprise Server™, process, extract, transform, repurpose and personalize high volumes of data and documents for storage, real-time access, ePresentment, printing and delivery in numerous formats across multiple channels.
Effective Feb. 1, 2010, Xenos became an Actuate company. For more information, visit www.xenos.com.