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
November 1, 2000.
ITEM 3. PRESS RELEASE
The press release issued pursuant to section 75(1) of the
Securities Act (Ontario) was issued on November 2, 2000 at
Toronto, Ontario. The press release was widely disseminated.
ITEM 4. SUMMARY OF MATERIAL CHANGE
724 Solutions Inc. has been added to The Toronto Stock
Exchange's TSE 100 Index in the Industrial sector as of the
market close on November 1, 2000.
ITEM 5. FULL DESCRIPTION OF MATERIAL CHANGE
The material change is described in the press release dated
November 2, 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,
who is knowledgeable about the details 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 7th DAY OF NOVEMBER, 2000.
/s/ CHRISTOPHER ERICKSON
------------------------
Christopher Erickson
President,
724 Solutions Inc.
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION, PLEASE CONTACT:
Ray McManus Monica Zaied
724 Solutions Inc. 724 Solutions Inc.
Public Relations Investor Relations
416.228.8191 416.228.2369
[email protected] [email protected]
724 SOLUTIONS INC. ADDED TO THE TSE 100 INDEX, INDUSTRIAL SECTOR
TORONTO, ON (NOVEMBER 2, 2000) - 724 Solutions Inc. has been added to The
Toronto Stock Exchange's TSE 100 Index in the Industrial sector as of market
close on November 1, 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. In September, 724 Solutions was
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.
"We view this move to the TSE 100 Index as an important benchmark for 724
Solutions. It's encouraging to see we are now regarded as one of Canada's top
companies," said Greg Wolfond, Chairman and Chief Executive Officer, 724
Solutions.
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.
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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," "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.
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