Key Developments For Insignia Solutions PLC
Insignia Solutions PLC (INSGY.PK) (USA Pink Sheets)
Insignia Solutions Announces Resignation Of George Monk As CFO-Form 8K
Insignia Solutions announced in its form 8K that effective June 23, 2008, George Monk resigned from his position as a member of the Board of Directors (the Board) of the Company and as Chief Financial Officer (CFO). There were no disagreements between Mr. Monk and the Company.
Insignia Solutions Completes Merger With DollarDays International
Insignia Solutions announced that it has merged with DollarDays International, Inc. (DollarDays). Under the terms of the agreement, DollarDays’ business assets and operations were merged into a subsidiary of the Company in exchange for the issuance of American Depository Receipts (ADRs) for approximately 73.3 million Company ordinary shares to DollarDays’ shareholders. After the transaction, which closed on June 23, 2008, and after the issuance of approximately 7.7 million ADRs that raised $1.0 million in a concurrent private financing transaction, current Insignia ADR holders will own approximately 37% of the ongoing combined company. Approximately 52 million new ADRs will be issued at this time, and the remainder will be issued following shareholder authorization of an increase in the Company’s authorized share capital.
Insignia Solutions Announces Resignation of President, CEO-Form 8-K
Insignia Solutions announced in its Form 8-K that, Mark McMillan resigned as Chief Executive Officer, President of the Company effective April 4, 2007.
Smith Micro Software, Inc. To Acquire Assets Of Insignia Solutions, plc
Insignia Solutions, plc and Smith Micro Software, Inc., jointly announced a definitive agreement for Smith Micro to acquire substantially all of the assets of the Company, including its mobile device management business. Pursuant to the terms of the agreement, Smith Micro will purchase substantially all of the assets of the Company for cash and cancellation of debt, and will assume certain liabilities of the Company, for a total deal value of $18,575,000.
Insignia Solutions Appoints New CFO
Insignia Solutions announced the appointment of George Monk as Chief Financial Officer (CFO).
