ISS Canada supports acquisition of Geac by Golden Gate Capital
09 Enero 2006 - 6:00AM
PR Newswire (US)
MARKHAM, ON, and WALTHAM, MA, Jan. 9 /PRNewswire-FirstCall/ -- Geac
Computer Corporation Limited (TSX: GAC and NASDAQ: GEAC) today
announced that Institutional Shareholder Services (ISS) Canada,
Canada's leading independent proxy advisory firm, published a
comprehensive report in support of the proposed acquisition of Geac
by Golden Gate Capital. ISS is widely recognized as the leading
independent proxy voting and corporate governance advisory firm in
both Canada and the United States. Its analyses and recommendations
are relied upon by hundreds of major institutional investment
firms, mutual funds and fiduciaries throughout North America.
Charles S. Jones, President and Chief Executive Officer of Geac,
said, "We are very pleased that based on a thorough review, the
broadly recognized and respected authority, ISS Canada, recommends
its clients vote in favor of the transaction. Their acknowledgment
of both our exhaustive strategic alternatives review and the
integrity of the sale process underscores their support. With a
healthy premium of 26.6 percent to the pre-announcement price of
the stock (21.8 percent on 30-day volume weighted average price),
we believe that this acquisition represents the best outcome for
our shareholders, our customers and our employees." Geac's Board of
Directors has unanimously determined that the Arrangement is fair
to and in the best interest of Geac shareholders. Accordingly, the
Board has approved the transaction and recommends that Geac
Shareholders vote in favor of the acquisition at a Special Meeting
of Shareholders, which will be held on Thursday, January 19, 2006,
at 10:00 a.m. (EST) at the Design Exchange, Trading Floor, 234 Bay
Street, Toronto-Dominion Centre, Toronto, Ontario. Shareholders can
vote by phone, internet or mail, and instructions can be found in
the Management Information Circular dated December 9, 2005 sent to
shareholders and available on the Geac website at
http://www.geac.com/. If shareholders have questions about voting,
they can contact Geac's proxy solicitor, Georgeson Shareholder
Communications, toll-free at (866) 765-7561. Proxies must be
received no later than 10:00 a.m. (EST) on January 17, 2006. About
Geac Geac is a leading global provider of software and services for
businesses and governmental bodies providing customers with
financial and operational technology solutions to optimize their
financial value chain. Further information is available at
http://www.geac.com/ or through email at . This press release
contains forward-looking statements of Geac's intentions, beliefs,
expectations and predictions for the future. These forward-looking
statements often include use of the future tense with words such as
"will," "may," "intends," "anticipates," "expects" and similar
conditional or forward-looking words and phrases. These
forward-looking statements are neither promises nor guarantees.
They are only predictions that are subject to risks and
uncertainties, and they may differ materially from actual future
events or results. Geac disclaims any obligation to update any such
forward-looking statements after the date of this release. Among
the risks and uncertainties that could cause a material difference
between these forward-looking statements and actual events include,
among other things: our ability to increase revenues from license
sales, cross-sell into our existing customer base and reduce
customer attrition; whether we can identify and acquire synergistic
businesses and, if so, whether we can successfully integrate them
into our existing operations; whether we are able to deliver
products and services within required time frames and budgets to
meet increasingly competitive customer demands and performance
guarantees; risks inherent in fluctuating international currency
exchange rates in light of our global operations and the
unpredictable effect of geopolitical world and local events;
whether we are successful in our continued efforts to manage
expenses effectively and maintain profitability; our ability to
achieve revenue from products and services that are under
development; the uncertain effect of the competitive environment in
which we operate and resulting pricing pressures; and whether the
anticipated effects and results of our new product offerings and
successful product implementation will be realized. These and other
potential risks and uncertainties that relate to Geac's business
and operations are summarized in more detail from time to time in
our filings with the United States Securities and Exchange
Commission and with the Canadian Securities Administrators,
including Geac's most recent quarterly reports available through
the website maintained by the SEC at http://www.sec.gov/ and
through the website maintained by the Canadian Securities
Administrators and the Canadian Depository for Securities Limited
at http://www.sedar.com/. Geac is a registered trademark of Geac
Computer Corporation Limited. All other marks are trademarks of
their respective owners. DATASOURCE: Geac Computer Corporation
Limited CONTACT: Alys Scott, Vice President, Corporate
Communications, Geac, (781) 672-5980,
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