03:42 PM EST - E-xact Transactions Ltd. : said Monday that it has signed a letter of intent regarding a proposed merger of E-xact and Datadirect Holdings Ltd., a private U.S. company. In consideration of the merger, Datadirect will pay for each outstanding E-xact share either $0.40 per share with an immediate cash payment of $0.15 per share plus a vendor take back note in the principal amount of $0.25 per share payable in cash over five years with interest at 8% per annum, in equal blended consecutive annual payments, subject to the right of prepayment at any time without notice or bonus. E-xact Transactions Ltd.
shares V.EXZ are trading up $0.01 at $0.25.
