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Wizzard Updates Timing for FAB Transaction and Healthcare Spin-off

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Wizzard Software Corporation (NYSE: WZE) today updated shareholders on several items related to its anticipated acquisition of FAB and the spin-off of its Healthcare business.

The SEC completed its review this week for our Proxy Statement requesting approval from shareholders to acquire FAB, among other items. The Proxy Statement is now being printed and will be mailed to shareholders in the next 10 days.

Wizzard has set a definitive shareholder meeting date of July 30, 2012, the timing of which includes the mandated allotment of time for shareholders to vote their proxies. Wizzard will form a new wholly-owned subsidiary that will be the parent of Interim Healthcare of Wyoming, our Healthcare subsidiary.

Interim Healthcare has requested that the SEC withdraw its registration statement relating to the spin-off and the new subsidiary will file a new registration statement in its place. This is being done to ensure compliance with the terms of the current Interim Healthcare franchise agreement, which requires a parent or holding company for publicly held companies.

A new record date for the dividend of the spin-off shares will be set and announced closer to the July 30th shareholder meeting date.

Posted-In: News Asset Sales


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