Eurocontrol Announces Special Meeting Date
365 Bay Street, Suite 400
Toronto, Ontario, Canada M5H 2V1
T 416 361 2808 | F 416 361 2519
eurocontrol.ca
Eurocontrol Announces Special Meeting Date
Toronto, CANADA, October 10, 2018 - Eurocontrol Technics Group Inc. (TSX Venture: EUO; OTCQB: EUCTF)
(“Eurocontrol” or the “Company”), announces that a special meeting (the "Meeting") of holders of common shares of
the Company ("Shareholders") will be held at 10:00 a.m. (Toronto time) on October 31, 2018.
At the Meeting, Shareholders will be asked to pass a special resolution to approve the previously announced proposed
sale by the Company of its subsidiaries, Xenemetrix Ltd., Croptimal Ltd. and Xwinsys Technology Development Ltd. to
DYG Holdings Ltd (the “Sale Transaction”). Shareholders will also be asked to pass a special resolution at the Meeting
to give authority to the Company's board of directors (the " Board of Directors") to amend the articles of incorporation
of the Company to (i) change the name of the Company, and (ii) to effect: a consolidation of all of the Company's issued
and outstanding common shares on the basis of one (1) post-consolidation common share of the Company for up to
ten (10) pre-consolidation common shares, in each case, as it may determine. Shareholders of record as of October
1, 2018 will be entitled to vote their common shares of the Company at the Meeting.
The proposed Sale Transaction has been conditionally accepted by TSX Venture Exchange (the “TSXV”). Closing of
the Sale Transaction is subject to, among other things, f inal acceptance by the TSXV and obtaining shareholder
approval. Additional details regarding the proposed Sale Transaction are set out in the Company’s news release dated
September 14, 2018 and in the management information circular of the Company dated October 2, 2018, each of which
are available on the Company's SEDAR profile at www.sedar.com . Additional details regarding the proposed name
change and share consolidation , and procedures for voting at the Meeting are also set out in the management
information circular.
Paul Wood, Interim CEO and President stated, “The Sale Transaction is intended to facilitate a rapid and cost-effective
final disposition of the Company’s discontinued business in Israel. At the Meeting, we will ask our shareholders to
approve the name change and share consolidation in order to give the Company additional flexibility to structure and
execute a potential value enhancing transaction . Our goal continues to be to transform the Company’s business
efficiently and diligently. Should these resolutions be passed, and with the advancement of earn-out payments through
the settlement agreement entered into with SICPA Finan ce S.A. (see press release of July 31, 2018), $2.1 million of
which has now been received leaving a balance of $1.3 million due January 3, 2019, the Company would be well
positioned to facilitate a greater range of transformative transaction alternatives.”
For further information on this press release, please contact Paul Wood at (416) 361-2808 or [email protected].
Neither 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. No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
Forward-Looking Statements - This news release contains “forward- looking statements”. All statements, other than statements of
historical fact included in this news release, regarding Eurocontrol’s strategy, future operations, possible strategic transactions, financial
position, prospects, plans and objectives of management are forward- looking statements. When used in this press release, the words
“plan,” “will,” “would,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements
are based on Eurocontrol’s current expectations and assumptions about future events and are based on currently available information
as to the outcome and timing of future events. As such, actual results, performance, or achievements could differ materially from those
expressed in, or implied by, these forward- looking statements and accordingly, no assurance can be given that any of the events
anticipated by the forward- looking statements will transpire or occur, or if any of them do so, what benefits or negative impact they will
have on Eurocontrol and its shareholders.