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saratoga electronic solution (SAR) Snapshot

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saratoga electronic solution (SAR) Details

As of March 13, 2015, Saratoga Electronic Solutions Inc. was acquired by Abba Medix Corp., in a reverse merger transaction. Saratoga Electronic Solutions Inc. does not have significant operations. It is reviewing strategic alternatives. Previously, the company was engaged in the automated teller machine business in Canada. The company is headquartered in Montreal, Canada.

saratoga electronic solution (SAR) Top Compensated Officers

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saratoga electronic solution (SAR) Key Developments

Saratoga Electronic Solutions Inc. Announces Management Changes

Saratoga Electronic Solutions Inc. announced that it has completed its previously announced transaction with Abba Medix Corp. The Transaction results in the corporation acquiring all of the issued and outstanding securities of Abba Medix in consideration for which the corporation has issued to Abba Medix shareholders 32 shares of the corporation for each Class A Common Share of Abba Medix. Also in connection with the Transaction, Paul Cancilla was appointed to the corporation's Board of Directors to fill the vacancy left by the earlier departure of Alfredo Perez; and Martin Fontaine and Donald W. Seal resigned their positions on the Board, with Nick Migliore and Ahmad Rasouli being appointed to fill the vacancies caused by such resignations. In addition, Ahmad Rasouli was appointed Chief Executive Officer of the corporation and Richard Vallée will maintain his role as Chief Financial Officer.

Saratoga Electronic Solutions Inc., Annual General Meeting, Feb 12, 2015

Saratoga Electronic Solutions Inc., Annual General Meeting, Feb 12, 2015.

Saratoga Electronic Solutions Inc. Announces Board Changes

Saratoga Electronic Solutions Inc. (Saratoga) announced that it has entered into a non-binding letter of intent with the shareholders of Abba Medix Corp. (Abba Medix), who act at arm's length to Saratoga, which outlines the general terms and conditions of a proposed transaction pursuant to which Saratoga will acquire all of the issued and outstanding shares of Abba Medix in exchange for shares of Saratoga (the Transaction). Following completion of the Transaction, it is expected that the Board of Directors of Saratoga will be comprised of 5 directors, as follows: two directors nominated by Saratoga, being Georges A. Durst and Richard Vallee (the Saratoga Representatives); and three directors nominated by the Abba Medix shareholders, being Ray Rasouli, Paul Cancilla and one other individual to be nominated by the founding shareholders of Abba Medix (the Abba Medix Representatives). The parties will undertake to nominate the Abba Medix Representatives and the Saratoga Representatives for election to the Board of Directors of Saratoga at its subsequent shareholders' meetings at which directors are elected.


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