Amadeus International Inc. under balance sheet restructuring
Quebec City, January 10th, 2007 — Amadeus International Inc. (TSX-V: AML), a pioneer and leader of advanced compliance process control solutions, has decided to halt trading of its stock in order to carry the restructuring of its balance sheet, which aims to strengthen its long-term growth, through a successful conclusion.
Given the many parties involved in this restructuring, Management, in agreement with their Advisors has decided to halt trading of the Company’s stock on December 15th, 2006. Trading will resume once the required approvals by the concerned regulatory authorities are obtained and the detailed restructuring plan is communicated to the public. This plan includes restructuring of the Company’s capital and long-term debt, negotiation of new equity investments and renewal of its credit facilities from its financial institution.
In other respects, on December 15th, 2006, the Company held its Annual General Meeting. On that occasion, Messrs. Yves Leblanc, Pierre-François Isabel, John Scandar and Alphonse Galluccio were elected Administrators. Mr. Robert Naud was also appointed Administrator, in replacement of Mr. Alain Contant, who has resigned as Administrator on December 13th, 2006, and consequently decided not to seek a new mandate, contrary to what was stated in the annual proxy. However, recognizing the extent of the responsibilities inherent to this position, Mr. Naud has elected to withdraw on December 19th, 2006. Therefore, at the next meeting, the Board of Directors will appoint a new Administrator in replacement of Mr. Naud.
As for Messrs. Benoît Côte, Mario Girard and André Monette, they have decided not to seek new mandates as Administrators. Management wishes to thank them for their commitment and availability over these past years.
It should also be pointed out that PricewaterhouseCoopers were reappointed Auditors of the Company for fiscal year 2007.
About Amadeus International
Amadeus International is a pioneer and leader in compliance process control solutions. Its flagship product, eQCM®, is a flexible, Web-based integrated suite of applications that allow organizations to help manage and control compliance and quality by automating processes such as document management, CAPA, nonconformances, customer satisfaction, audits, and other related quality and business processes. The application suite is coupled with powerful business intelligence capabilities, enterprise content management, and related technologies that help organizations achieve sustained compliance. Amadeus International’s global headquarters are located in Quebec City, Canada. Amadeus’ solutions are distributed across four continents.
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For further information:
Frédéric Garand, Vice President and Chief Financial Officer
Tel.: (418) 525-0606, ext. 2268
E-mail: frederic.garand@amadeussolutions.com
Isabelle Rivoal
Communications Manager
Phone: +1 (418) 525-0606, ext. 2231
E-mail: isabelle.rivoal@amadeussolutions.com
