TORONTO, ONTARIO--(Marketwire - July 24, 2012) - Automated Benefits Corp.® (the "Corporation") (TSX VENTURE:AUT), provider of cloud-based claims technology for the insurance industry, is pleased to announce that they will be holding their Annual and Special Meeting of shareholders on Wednesday September 19, 2012. The meeting will be held at the TSX Broadcast Centre, located at The Exchange Tower, 130 King Street West, Toronto, Ontario, M5X 1J2 and will begin at 12:00 p.m. Any and all holders of common shares of the Corporation as at the close of business on the Record Date, which is August 15, 2012, will be entitled to vote at this meeting. For more information and for disclosures related to the year ended December 31, 2011, please refer to the Corporation's Information Circular, which will be posted in August at www.sedar.com.
The Corporation also announces that, subject to approval of the TSX Venture Exchange, it intends to satisfy its obligation to pay independent director fees for the period January 1, 2012 to June 30, 2012 by issuing shares. The Corporation intends to issue 149,856 Common Shares with a deemed value of $0.389 per share (for an aggregate value of $58,294.13) to the independent directors of the Corporation for services provided for the period January 1, 2012 to June 30, 2012. Such aggregate value is the aggregate net amount owing to the independent directors after making all statutorily required source deductions.
About Automated Benefits Corp.
Automated Benefits Corp.®(TSX VENTURE:AUT) a progressive software company dedicated to developing applications for the insurance industry. The organization currently has two platforms: Symbility® and Adjudicare®.
Symbility Solutions is a cutting edge, easy-to-use, cloud-based claims processing and estimating technology that optimizes claims performance for Property & Casualty insurance industry. Relying on the most extensive and defendable property cost data developed by Marshall & Swift/Boeckh ("MSB"), our collaborative workflow management, mobile estimating, claims triage solutions and analytical services allow insurers to reduce costs while delivering a market-leading claims experience. Symbility Claims Solutions, used in conjunction with MSB's Underwriting Solutions, means property insurers now have a dynamic, market-driven enterprise solution. Providing a virtual feedback loop between claims and underwriting systems, this enterprise solution allows insurers to manage property risks more proactively and effectively.
Adjudicare is an advanced, practical web-based software solution used by a network of Employee Benefits Brokers and Third-Party Administrator partners across Canada in the adjudication of health and dental claims. Adjudicare's rules-based engine and leading-edge features ensure that claims are precisely adjudicated and paid in real-time, giving our partners' customers optimum flexibility, along with transparent disclosure on the benefit plan's financial performance.
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