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FORM 27
MATERIAL CHANGE REPORT UNDER
SECTION 75(2) OF THE SECURITIES ACT (ONTARIO)
ITEM 1. REPORTING ISSUER
The full name of the reporting issuer is 724 SOLUTIONS INC.
whose principal office is located at 4101 Yonge Street, Suite
702, Toronto, Ontario, M2P 1N6.
ITEM 2. DATE OF MATERIAL CHANGE
The effective date of the material change herein reported is
September 19, 2000.
ITEM 3. PRESS RELEASE
The press release issued pursuant to section 75(1) of the
Securities Act (Ontario) was issued on September 20, 2000 at
Toronto, Ontario. The press release was widely disseminated.
ITEM 4. SUMMARY OF MATERIAL CHANGE
Less than one year after completing its initial public
offering, 724 Solutions Inc. has been added to The Toronto
Stock Exchange's TSE 300 Composite Index in the Industrial
Products Group, the TSE 200 Index and Standard and Poor's
S&P/TSE Canadian MidCap Index as of the market close on
September 19, 2000.
ITEM 5 FULL DESCRIPTION OF MATERIAL CHANGE
The material change is described in the press release dated
September 20, 2000 attached hereto which is hereby
incorporated by reference herein.
ITEM 6. CONFIDENTIAL REPORT
Not applicable.
ITEM 7. OMITTED INFORMATION
No significant facts have been omitted from this report.
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ITEM 8. SENIOR OFFICER
Further information regarding the matters described in this
report may be obtained from Christopher Erickson, President
and Secretary, who is knowledgeable about the details of the
material change and may be contacted at (416) 226-2147.
THE FOREGOING ACCURATELY DISCLOSES THE MATERIAL CHANGE REFERRED TO HEREIN.
THIS REPORT IS EXECUTED AT TORONTO, ONTARIO THIS 21st DAY OF SEPTEMBER, 2000.
"CHRISTOPHER ERICKSON"
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Christopher Erickson
President and Secretary,
724 Solutions Inc.
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FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION, PLEASE CONTACT:
Ray McManus
724 Solutions Inc.
416.228.8191
[email protected]
724 SOLUTIONS INC. ADDED TO THE TSE 300 AND TSE 200 COMPOSITE
INDICES, AND TO THE S&P/TSE CANADIAN MIDCAP INDEX
ADDITION TO INDICES COMES LESS THAN ONE YEAR
AFTER COMPANY'S SUCCESSFUL JANUARY IPO
TORONTO, ON (SEPTEMBER 20, 2000) - Less than one year after completing one of
Canada's most successful IPOs, 724 Solutions Inc. has been added to The Toronto
Stock Exchange's TSE 300 Composite Index in the Industrial Products Group, the
TSE 200 Index and Standard and Poor's S&P/TSE Canadian MidCap Index as of market
close on September 19, 2000.
724 Solutions, a leading developer of Internet software infrastructure for the
financial services industry, issued shares on the TSE (SVN) and the NASDAQ
National Market (SVNX) on February 2, 2000.
"This marks an important milestone in 724 Solutions' life as a public company,"
said Greg Wolfond, Chairman and Chief Executive Officer, 724 Solutions. "The
market strongly endorsed our vision on the day of our initial public offering,
and 724 Solutions' addition to these indices is another endorsement that the
market views 724 Solutions as a substantial company with a bright future. This
represents an exciting opportunity for our company to broaden its investor
base."
ABOUT 724 SOLUTIONS INC.
724 Solutions provides an Internet infrastructure solution to financial
institutions that enables them to offer personalized and secure mobile banking,
investment, and commerce services across a wide range of Internet-enabled
wireless and consumer electronic devices. The company provides end-to-end
customer support through its global application hosting and contact centre
services. 724 Solutions' customers comprise world-class financial institutions
whose combined customer bases total 165 million. 724 Solutions' common shares
are listed on the NASDAQ National Market (SVNX) and The Toronto Stock Exchange
(SVN). Headquartered in Toronto, Canada, the company has offices in London,
Paris, San Francisco, Santa Clara, Sydney, and Tokyo. For additional information
visit www.724.com.
This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these forward-looking
statements by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans,"
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"believes," "estimates" and similar expressions. The accuracy of these
statements may be impacted by a number of business risks and uncertainties that
could cause actual results to differ materially from those projected or
anticipated, including risks related to: the risk that technologies for the
delivery of financial or e-commerce services over the Internet and wireless
networks will not be developed or be attractive to consumers as anticipated; the
risk that 724 Solutions will not successfully deploy or operate services based
upon the 724 Solutions Financial Services Platform; and other risks outlined in
724 Solutions' SEC filings, and filings with Canadian Securities Administrators,
including but not limited to 724 Solutions' registration statement on Form F-1,
prospectuses, material change reports, Annual Information Form, Form 20-F,
Management Information Circular, or filings on Form 6-K. 724 Solutions does not
undertake any obligation to update this forward-looking information, except as
required under applicable law.
