| NetNation
Stockholders Approve Hostway Merger [21st August
2003]
VANCOUVER, British Columbia, Aug 21,
2003 (BUSINESS WIRE) -- NetNation Communications, Inc.
(NNCI) announced today that the holders of a majority
of its outstanding shares have approved the proposed
agreement and plan of merger with a wholly owned subsidiary
of Hostway Corporation, pursuant to which all of NetNation's
stockholders will receive cash for their NetNation stock.
The merger transaction is expected to
close immediately following the close of trading on
August 22, 2003, subject to a filing with Delaware's
Secretary of State. Upon closing, NetNation's common
stock will delist from the Nasdaq stock exchange, and
its shares will no longer be publicly traded.
About NetNation Communications, Inc.
NetNation Communications, Inc. (www.netnation.com)
is a pioneer in web hosting and domain name registration.
With more than six years in operation, the Company has
extended its products to offer enhanced-dedicated servers,
co-location, shared hosting and managed services to
clients worldwide. NetNation is recognized by industry
evaluators for its excellent customer service and support,
as reflected by its frequent top web host rankings worldwide.
The Company was recently ranked the fourth fastest growing
company in British Columbia by Business in Vancouver
magazine, based on percentage revenue growth from 1997
to 2001. NetNation was also recently ranked the 26th
fastest growing company in Canada by Profit Magazine,
based on percentage revenue growth from 1997 to 2002.
About Hostway
Hostway Corporation (www.hostway.com)
provides award-winning web hosting services with five
locations in the US, the UK, the Netherlands, Korea,
and Australia. Serving customers both small and large,
Hostway provides best of breed hosting infrastructure
with innovative online tools to help customers broaden
their reach and grow their businesses online. Hostway
offers a wide range of managed hosting services ranging
from simple shared hosting plans to complex dedicated
server programs to over 100,000 customers worldwide.
Hostway's recent launch of the TruFlex
line of dedicated servers with its simple, flat pricing
underscores its commitment to innovation, security,
and affordability.
This release contains forward-looking
statements within the meaning of the "safe harbor"
provisions of the U.S. Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations and beliefs and are subject to
a number of risks and uncertainties that could cause
actual results to differ materially from those described
in the forward-looking statements. These risks and uncertainties
include the following: (1) technological changes or
changes in the competitive environment adversely affecting
the service-packages, market share, revenues or margins
of the combined business; (2) changes in general economic,
financial or business conditions adversely affecting
the combined business or the markets in which it operates
and adversely affecting future revenues; (3) availability
of financial resources to carry out plans; and (4) authorization
from third parties to carry out plans. The matters discussed
in this news release also involved risks and uncertainties
described from time to time in NetNation's filings with
the Securities and Exchange Commission, including the
most recent Form 10-K filed on February 11, 2003, Form
10-Q filed on August 14, 2003, and Forms 8-K and other
filings. NetNation assumes no obligation to update any
forward-looking information contained in this news release.
NetNation is a registered trademark
of NetNation Communications, Inc. and DomainPeople is
a trademark of DomainPeople, Inc. All other products
and company names are the trademarks or registered trademarks
of their respective owners.
SOURCE: NetNation Communications, Inc.
NetNation Communications, Inc.
Jay Elliott, 604-688-8946 Ext. 216
mr@netnation.com
www.netnation.com |
