QU BEC CITY, Aug. 24 /PRNewswire-FirstCall/ -- Cossette's Chairman of the Board, Chief Executive Officer and President, Claude Lessard, announced today that he has received the resignation of Ms. Monic Houde, member of Cossette's Board of Directors and Chairman of the Human Resources and Corporate Governance Committee.
Ms. Houde was appointed Chairman of Cossette's Human Resources and Corporate Governance Committee on May 1, 2007 and was a member of the Board since November 11, 2005.
"Strictly important personal reasons explain my decision to leave," said Ms. Houde. "I support without reservation all the decisions made by the Board of Directors to date in relation to the proposal to acquire Cossette. I have full confidence in the current management team and that the Board will fully evaluate all strategic options for Cossette for the benefit of all shareholders", she concluded.
"We are very grateful for Ms. Houde's contribution to Cossette during these past years and wish her all the best for the future," declared Claude Lessard.
Update on Shareholder Rights Plan
The Autorit des march s financiers has confirmed its juridiction in connection with the implementation of the shareholder rights plan of the Company, as it is customary for a Quebec-based reporting issuer.
Cossette Inc. offers a full range of leading-edge communication services to clients of all sizes, including some of the most prestigious brands in the world. A customer-driven organization built around highly specialized business units, Cossette also offers Convergent Communications(TM), a unique working method that brings added value to the client by integrating various services offered by the Group, including strategic planning and research, advertising, media buying and channel planning, sales promotion, direct response, database and direct marketing, customer relationship management, interactive marketing and technology solutions, public relations, organizational communication and change management, sponsorship and alliance marketing, branding and design, ethnic marketing, business-to-business communications (B2B practices) and print and video production. Cossette has approximately 1,485 employees and offices in Quebec City, Montreal, Toronto, Vancouver, Halifax, New York, Irvine, Los Angeles, London and Shanghai.
Cautionary note and forward-looking statements - This press release is not an offer of securities for sale. It may contain forward-looking statements concerning the Company's business, operations and strategies, including forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 in the United States. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties and the Company's actual results may differ materially from those expressed or implied in such statements, due to a variety of factors including downturns in general economic conditions and resulting changes in client business and marketing strategies, consolidation and globalisation of client brand strategies, the highly competitive nature of the communications industry, the greater resources available to much larger global agencies, low entry barriers for new competitors, dependence upon a limited number of clients contributing a significant percentage of income, inability to acquire new clients or new assignments from existing clients due to client policies prohibiting performance of similar services for competing products or companies, our ability to successfully integrate our acquired and to-be-acquired businesses and the retention of key management, creative and technical personnel. Reference should be made to the annual Management's Discussion and Analysis for an in-depth description of major risk factors.
COSSETTE INC.
CONTACT: Financial Analysts only: Martin Faucher, Vice-President and
Chief Financial Officer, (418) 521-3784; Investors: Francis Trudeau, Director,
Acquisitions and Investor Relations, (514) 282-4633; Medias: Sylvie Isabelle,
Optimum Public Relations, (418) 521-3184; Source: Cossette Inc.,
http://www.cossette.com/
