CALGARY-JKC Group Inc. has informed Zi Corp. it will file a revised preliminary proxy statement for a special meeting of shareholders to consider JKC’s previously announced acquisition of the Magic Lantern Group of companies from Zi.
JKC’s filing is in response to comments from the Securities and Exchange Commission and reflects the company’s decision to push back its Nov. 8 shareholders meeting to provide time for consideration and voting on the proposal. To accommodate the rescheduling, Zi extended the outside closing date under its stock purchase agreement with JKC.
Zi also said it has not yet reached an agreement to sell its Hong Kong-based Zi Services division, and unless a transaction is completed, its letter of intent will terminate Oct. 31.
