FREMONT, CA and GUELPH,
ON — September
15, 2004 — SYNNEX Corporation (NYSE: SNX), through
its subsidiary, SYNNEX Canada Limited, and EMJ Data Systems
Ltd. (TSX: EMJ) jointly announced today that shareholders holding
8,232,834 common shares of EMJ Data Systems Ltd. (“EMJ”),
representing approximately 87.7% of the issued and outstanding
EMJ common shares on a fully diluted basis, have accepted the
Offer dated August 9, 2004 of SYNNEX Canada Acquisition Limited,
a wholly-owned subsidiary of SYNNEX Canada. All conditions
to the completion of the Offer and the take-up of the EMJ common
shares have been satisfied or waived and SYNNEX Canada Acquisition
will take up the EMJ common shares deposited under the Offer
on September 18, 2004 and pay CDN $6.60 for each such share
on September 22, 2004.
SYNNEX Canada Acquisition is determining whether to convene
a meeting of EMJ shareholders to consider a transaction that
would result in SYNNEX Canada Acquisition acquiring 100% of
the outstanding EMJ common shares. It is expected that an announcement
in respect of any such meeting will be made shortly.
It was also announced that prior to expiry of the Offer holders
of in excess of 95% of the issued and outstanding First Preference
Shares Series A of EMJ and holders of in excess of 55% of
the aggregate principal amount of all outstanding convertible
unsecured
subordinated debentures of EMJ agreed to waive their rights
to convert their securities into EMJ common shares. In addition,
all options issued under the EMJ stock option plan have been
exercised or terminated; holders of warrants issued by EMJ
agreed to the termination of such securities or the waiver
of conversion rights into EMJ common shares; and the holder
of a debenture issued by a wholly-owned subsidiary of EMJ
in the aggregate principal amount of CDN $1 million converted
its debenture into 200,000 EMJ common shares.
About SYNNEX Corporation
Founded in 1980, SYNNEX Corporation is a global IT supply
chain services company offering a comprehensive range of
services to original equipment manufacturers, software publishers
and reseller customers worldwide. SYNNEX offers product distribution,
related logistics services and contract assembly and works
with the leading industry suppliers of IT systems, peripherals,
system components, software and networking equipment. Additional
information about SYNNEX may be found online at www.synnex.com.
About SYNNEX Canada Limited
SYNNEX Canada Limited is a leading distributor of technology
products to resellers and system builders throughout Canada.
SYNNEX Canada endeavors to support the growth of its partners
with business development and educational services, expert
technical support, flexible financing options, certified
configuration services, and e-business solutions. The company
is a wholly-owned subsidiary of SYNNEX Corporation.
About EMJ Data Systems Ltd.
EMJ Data Systems Ltd., headquartered in Guelph, Ontario,
is a Canadian publicly owned distributor of computer products
and peripherals. EMJ specializes in niche-market products
for Apple, Bar Coding/Auto-ID/Point-of-Sale, Build-To-Order,
Digital Video, Networking and Security applications. EMJ
has Canadian branch offices in Vancouver, Calgary, Winnipeg,
Montreal and Halifax, as well one office in the United States.
EMJ’s common shares are traded on the Toronto Stock
Exchange (TSX) under the symbol EMJ. For more information
about EMJ, visit www.emj.ca.
Statements in this press release regarding SYNNEX Corporation
which are not historical facts are “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. These forward-looking statements may
be identified by terms such as believe, expect, may, will,
could and should and the negative of these terms or other
similar expressions. These statements, including statements
regarding the acquisition of EMJ common shares and the meeting
of EMJ shareholders, are subject to risks and uncertainties
that could cause actual results to differ materially from
those discussed in the forward-looking statements. These
risks and uncertainties include, but are not limited to,
the satisfaction of customary closing conditions and other
risks detailed from time to time in SYNNEX’ SEC reports;
including in Quarterly Report on Form 10-Q for the quarter
ended May 31, 2004. In light of these risks and uncertainties,
there can be no assurance that the results referred to in
this forward-looking statements contained in this press release
will occur. Statements included in this press release are
based upon information known to SYNNEX Corporation and EMJ
Data Systems Ltd. as of the date of this release, and SYNNEX
Corporation and EMJ Data Systems Ltd. assume no obligation
to update information contained in this press release.
SYNNEX and the SYNNEX logo are trademarks of SYNNEX Corporation
or its subsidiaries and should be treated as such. All rights
reserved. All other company names mentioned herein are trademarks
of their respective owners.