CENTENNIAL, Colorado (December 31, 2003) – Laser Technology, Inc. (AMEX “LSR”), a leading designer, manufacturer and marketer of pulse measuring systems, announced that the proposed merger of LTI Acquisition Corp and Laser Technology, Inc. has been adopted and approved by LTI shareholders.
Per the terms of the acquisition agreement LTI Acquisition Corp. is purchasing 100% of Laser Technology's outstanding common stock for $2.06 per share. As a result of the merger, effective today, LSR will become a privately held company and its shares will be delisted from the American Stock Exchange. Detailed instructions, including a transmittal letter, will be mailed to shareholders within the next 10 days describing the method of exchanging LSR stock certificates for cash. Shareholders should not send certificates representing their shares to the exchange agent or to Laser Technology prior to receipt of the transmittal letter.
This press release includes statements, which may constitute “forward-looking” statements, usually containing the words “believe”, “project”, “expect” or similar expressions. Any forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned forward-looking statement inherently involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, new products and technological developments, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact:
Maggie Urban-Phillips, Investor Relations
Or
Elizabeth Hearty, CFO and Corporate Secretary
At (303) 649-1000
