Versus Technologes (e*trade canada) - 500 Beiträge pro Seite

[ricoh1]

Versus Says in Talks to Merge, Be Acquired
08:33 GMT-04:00 Tuesday, June 13, 2000

By Ian Karleff

TORONTO (Reuters) - VERSUS Technologies Inc. (V.TO), owner of E+Trade Canada and the closest thing the country
has to an alternative securities-trading system, said on Monday it is in discussions with third parties to merge or be
acquired.

Versus`s shares surged C$1.35 to C$12.30 on the Toronto Stock Exchange before being halted on Monday.

The Toronto-based company is the largest collector of electronic orders in Canada and is allowed to send orders to U.S.
firms to trade Canadian securities, but it is still not a full-fledged ATS, or alternative trading system.

Versus is eagerly awaiting changes to the Ontario Securities Act, which would allow it to compete directly with the
Toronto Stock Exchange, as similar companies in the United States are allowed to do with U.S. exchanges.

Doug Steiner, chief executive and chairman of Versus, declined to elaborate on a tersely worded press release announcing
the third-party talks. ``Everything we want to say is in the press release,`` he said.

Any sale of the company or merger would not affect E+Trade Canada and its 21,100 accounts, a franchise of E+Trade
Group (EGRP.O) and an entity Versus has ``perpetual rights`` over, said Steiner.

There were 14.5 million Versus shares outstanding on a fully diluted basis as of the end of trading on Monday, giving the
company a market capitalization of C$178 million ($121 million).

RBC Dominion Securities is the only shareholder on record as owning more than 10 percent of the company, and is
currently one of two firms publishing research on Versus.

In April, Versus said it had acquired Fairvest Securities Corp., a provider of corporate governance research and related
services.

Versus implemented a shareholder rights plan in December that requires that all shareholders be able to assess a
``permitted`` bid for the company for at least 60 days.

($1-$1.48 Canadian)

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[fuj]

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