Company maintains primary listing of Common Shares on Senior Toronto Stock Exchange
Wednesday, July 15, 2009
DENVER — Intermap (TSX: IMP.TO, AIM: IMAP.L) today announced that it will cancel the admission to trading on the AIM market of the London Stock Exchange ('AIM') of its common shares (the 'Common Shares') (the 'Cancellation') with effect from 7:00 a.m. GMT on Thursday, 13 August, 2009 (the 'Cancellation Date'). The last trading day on AIM of the Common Shares will therefore be Wednesday, 12 August, 2009. The Company will maintain its primary listing of Common Shares on the Toronto Stock Exchange (TSX) in Canada.
This decision follows a review of the AIM listing by the Company's Board of Directors (the 'Board'). In coming to its conclusions, the Board considered in particular the low levels of liquidity on the AIM, the Company's Canadian focussed shareholder base, the comparable dealing facility on the TSX, and the additional costs associated with maintaining a listing on AIM. These factors have led the Board to conclude that the Cancellation is in the best interests of the Company as a whole.
With the maintenance of the Company's listing of the Common Shares on the TSX, shareholders wishing to trade Common Shares after the Cancellation Date will be able to do so through that market. Shareholders should not therefore be materially prejudiced by the Cancellation.
Prior to the AIM Cancellation Date, UK shareholders may continue to trade their Common Shares on AIM. While CREST Depositary Interest ("CDI") holders will not be required to move their holdings from CREST until such time as they wish to trade their CDIs, or transfer them to the Canadian Depository System ("CDS"), the Company encourages shareholders to migrate their holdings of Common Shares from AIM/CREST to TSX /CDS as soon as practicable.
Shareholders are advised to consult their usual stockbroker, CREST sponsor, bank manager, solicitor, accountant or other independent professional adviser for the procedure to follow to transmit their Common Shares to the Canadian shareholder register, or to contact Computershare Investor Services PLC, the Pavilions, Bridgewater Road, Bristol BS13 8AE, United Kingdom, Telephone: +44 (0) 870 702 0000, www.computershare.com web.queries (at)computershare.co.uk for the procedure to follow.
For those not familiar with the Canadian securities system, public information on the Company can be accessed through SEDAR at www.sedar.com, an independent website on which all regulatory filings must be made.
About Intermap Technologies
Intermap (TSX: IMP.TO, AIM: IMAP.L) is a preeminent digital mapping company creating uniform high-resolution 3D digital models of the earth's surface. The Company is proactively remapping entire countries and building uniform national databases, called NEXTMap®, consisting of affordably priced elevation data and geometric images of unprecedented accuracy. Demand for NEXTMap data is growing as new commercial applications emerge within the GIS, engineering, automotive, GPS maps, insurance risk assessment, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation, and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap employs more than 850 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, Paris, Prague, and Washington D.C. For more information, visit www.Intermap.com.
NEXTMap® is a registered trademark of Intermap Technologies Corporation. Other companies and products mentioned herein may be trademarks or registered trademarks of their respective trademark owners.
For more information, please contact:
Richard Mohr, Senior Vice President & Chief Financial Officer
Canada — Financial
Corbet Pala, Investor Relations
E-vestor Communications Inc.
United States — Financial
Budd Zuckerman, Investor Relations
Genesis Select Corporation
United Kingdom — AIM, Nominated Advisor
Canaccord Adams Limited
Neil Johnson/Andrew Chubb
+44 (0) 207 050 6500
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances 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 that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.