BARRIE, Ontario – Student Transportation Inc. (“ST”) (TSX: STB) announced at the Annual and Special Meeting of shareholders held on November 12, 2009 the approval of a resolution to change its corporate name from Student Transportation of America Ltd. to Student Transportation Inc. The company’s shares will continue to trade under the ticker symbol “STB” on the Toronto Stock Exchange.
“By changing our corporate name it better represents our North American footprint and will serve us well as we continue to grow,” said Denis J. Gallagher, chairman and chief executive officer. “We will retain the names Student Transportation of America (“STA”) for our U.S. subsidiary and Student Transportation of Canada (“STC”) for our Canadian operations. On the local level, we will also continue to retain the identities of the many companies we have acquired, preserving the goodwill they have built with their customers and communities.”
As a result of the corporate name change the Canadian Depository for Securities (“CDS”) has issued new ISIN/CUSIP numbers for Student Transportation Inc. as follows:
The Company also announced that its Board of Directors is considering a dual listing of its common shares on a U.S. exchange. The listing which could happen as early as the fall of 2010 and would require certain regulatory approvals that would allow the company to market and sell its common shares to U.S. investors; something it believes would further increase liquidity by attracting new shareholders.
“Being able to list and market directly in the U.S. would allow us to expand our investor base and increase our relationships with U.S. and international investment banks familiar with our industry,” said Gallagher. “While we realize there is additional expense involved in a move to a U.S. exchange, we believe the benefits will greatly outweigh those costs. Investors have shown a real appetite for yield and with our current dividends we should be a welcome addition to most investment portfolios.”
About Student Transportation
Founded in 1997, Student Transportation Inc. (ST) is North America’s third-largest and fastest-growing provider of school bus transportation services, operating more than 6,300 vehicles. ST’s family of local companies delivers safe, reliable and cost-effective transportation solutions to school districts throughout the U.S. and Canada. Services are delivered by drivers, dispatchers, maintenance technicians, terminal managers and others who are caring members of their local communities. For more information, please visit www.rideSTA.com.
