SAIS Limited Announces Application for Voluntary Delisting from TSX Venture Exchange

TORONTO, Feb. 19, 2020 /CNW/ -- SAIS Limited (the "Company") (TSXV: SAIS) announced today that it has filed an application with the TSX Venture Exchange (the "TSXV") to voluntarily delist its ordinary shares (the "Ordinary Shares") from the TSXV.

Once the delisting of the Ordinary Shares has taken place, it will no longer be possible to effect transactions involving the Ordinary Shares on the TSXV, which will impact the liquidity of the Ordinary Shares. Upon receipt of TSXV and shareholder approval, the TSXV will issue a bulletin confirming the effective time of the delisting of the Ordinary Shares. Following the delisting, the Company intends to make an application to the applicable Canadian securities regulatory authorities to cease to be a reporting issuer in each Canadian jurisdiction in which it is a reporting issuer.

The delisting of the Ordinary Shares is subject to the Company receiving approval from the TSXV and majority of minority shareholder approval.  The Company expects to obtain such approval by way of written consent from the requisite number of shareholders.

About SAIS Limited

Singapore-based SAIS Limited (TSXV: SAIS) is a global provider of advanced technology solutions, business intelligence and supporting services. We connect businesses with their customers through end-to-end intelligent solutions. A leader in the development of mobile commerce platforms, we are focused to create technology aimed at providing unique digital experiences to foster ground-breaking client-customer relationships. To learn more about our group, visit our website: sais-group.com 

Cautionary Notes

Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the completion of the delisting of the Ordinary Shares, the application to cease to be a reporting issuer, the Company's future financial position and results of operations, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Additional factors that could cause actual results, performance or achievements to differ materially are set out under the heading "Risks and Uncertainties" in the Company's final long form prospectus dated July 26, 2018 and the Company's management information circular dated July 29, 2019, copies of which are available on the Company's SEDAR profile at www.sedar.com. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained or referenced herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SAIS Limited