DirectCash is Pleased to Announce Customers Shareholders' Approval of Acquisition
Posted on June 18, 2012 at 09:55 AM EDT
CALGARY, ALBERTA--(Marketwire - June 18, 2012) - DirectCash Payments Inc. (TSX:DCI) ("DirectCash") is pleased to announce that Customers Limited (ASX:CUS) ("Customers") shareholders have voted to approve DirectCash's acquisition of Customers at a scheme meeting held in Melbourne today. Customers is Australia's largest independent operator of ATMs with over 6,700 ATMs in Australia and New Zealand.
"We are very pleased that Customers shareholders have overwhelmingly decided to support DirectCash's acquisition, which brings together two of the world's largest leading independent ATM operators", said Jeff Smith, President and CEO of DirectCash.
"The acquisition of Customers is a critical step in building our presence internationally and positions DirectCash as one of the largest, publicly traded, branded ATM providers in the world with operations in Canada, Australia, New Zealand, Mexico, the United Kingdom and the United States.", said Mr. Smith.
Customers shareholders were asked to vote for a resolution approving the acquisition of all Customers' issued and outstanding shares by DirectCash in accordance with the Scheme Implementation Deed entered into on April 1, 2012. The resolution was approved by 99.37% of the votes cast by Customers' shareholders. The transaction is expected to close on July 4, 2012, subject to court approval, which is expected to be obtained June 22, 2012.
Customers operates Australia's largest fleet of ATMs, which are contracted to merchants. The company operates ATMs for Bank of Queensland and Coles Express, whilst also carrying a range of bank brands on selected terminals, including Citibank, Bendigo and Adelaide Bank, and Arab Bank of Australia, as well as its own convenience brands. The Company is also the majority shareholder of New Zealand ATM Services Ltd.
DirectCash is a leading provider of ATMs, debit terminals and prepaid products in Canada. DirectCash also offers ATM services in the United States, ATM services in Mexico, prepaid cards in Australia, and ATM services and prepaid cards in the United Kingdom. DirectCash is a full-service operator and transaction processor in each of these business units and has been in the ATM business since 1997 and the debit terminal and prepaid products businesses since 2002.
Based upon information obtained from competitors and information publicly available regarding the number of ATMs deployed by each Canadian chartered bank as at October 31, 2011, DirectCash ranks as the largest branded ATM operator in Canada.
Additional information about DirectCash, including DirectCash's Annual Information Form and other public filings is available on SEDAR (www.sedar.com) and on the DirectCash's website (www.directcash.net).
For further information, please visit www.customersatm.com.au.
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