Municipal Software Corporation, a developer of local government business process automation software, announced today that after long and careful planning it has completed a transaction that will now effectively allow shares of the company to be traded on the Canadian Venture Exchange (CDNX) under the trading symbol of MSM.
In structuring the transaction, Municipal Software was acquired by an inactive, but already listed, company on the CDNX. On January 14th formal permission was granted by the CDNX to allow the listed company (formerly Trans Asia Resources) to acquire 100% of the shares of Municipal Software and for the listed company to be renamed Municipal Solutions Group Inc. in a transaction called a Change of Business (COB).
Both companies will remain separate entities, and Municipal Software will continue to operate as normal as a wholly owned subsidiary of Municipal Solutions Group Inc. No changes to staff or management have been made, nor
are contemplated, as a result of this transaction beyond the scope of normal growth and recruitment. Robert Bennett, President of Municipal Software, and Troy Kusy, Vice-President of Municipal Software, remain in their present
positions for both companies.
