ALARMFORCE $10.01 - Toronto symbol AF

ALARMFORCE $10.01 (Toronto symbol AF; TSINetwork Rating: Speculative) (1-800-267-2001; www.alarmforce.com; Shares outstanding: 12.2 million; Market cap: $122.7 million; Div. yield: 1.0%) has fired Joel Matlin, its long-time and high-profile president and CEO.

AlarmForce recently completed the strategic review of business opportunities that it launched in August 2012. That review included a possible sale of the company. The process did not result in a takeover offer that AlarmForce was willing to accept.

The firing may be related to the company’s failure to find a buyer. Or it may reflect the fact that AlarmForce’s growth in Canada has slowed—it added just 700 new subscribers in the last six months.

AlarmForce is a hold.

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