Mimecast Shareholders Approve Permira Transaction
March 11 2022 - 4:05PM
Mimecast Limited (NASDAQ: MIME) announced today at the company’s
special meeting that its shareholders voted to approve the
company’s pending acquisition by funds advised by Permira.
“I thank our shareholders for their strong support of this
transaction and of Mimecast throughout our company’s history,” said
Peter Bauer, chairman and chief executive officer of Mimecast.
“With this significant milestone now behind us, we look forward to
completing the transaction with Permira and delivering immediate
and premium value to our shareholders. As a private company
supported by Permira, we will be well positioned to continue to
strengthen the cybersecurity and resilience of organizations around
the world.”
Based on a preliminary tabulation of the shareholder vote,
approximately 99.76% of votes cast were in favor of the proposed
transaction, representing approximately 75.30% of all outstanding
shares.
The final voting results on the proposals voted on at the
special meeting will be set forth in a Form 8-K filed by Mimecast
with the U.S. Securities and Exchange Commission.
Under the terms of the previously announced transaction, funds
advised by Permira will acquire all outstanding ordinary shares of
Mimecast for $80.00 per share in cash. The transaction is expected
to close in the first half of 2022, subject to regulatory
approvals. Upon completion of the transaction, Mimecast will become
a privately held company and the ordinary shares of Mimecast will
no longer be listed on any public market.
Mimecast: Relentless protection. Resilient world.
™
Mimecast (NASDAQ: MIME) was born in 2003 with a focus on
delivering relentless protection. Each day, we take on cyber
disruption for our tens of thousands of customers around the globe;
always putting them first, and never giving up on tackling their
biggest security challenges together. We are the company that built
an intentional and scalable design ideology that solves the number
one cyberattack vector – email. We continuously invest to
thoughtfully integrate brand protection, security awareness
training, web security, compliance and other essential
capabilities. Mimecast is here to help protect large and small
organizations from malicious activity, human error and technology
failure; and to lead the movement toward building a more resilient
world. www.mimecast.com
Mimecast and the Mimecast logo are registered trademarks of
Mimecast. All other third-party trademarks and logos contained in
this press release are the property of their respective owners.
Safe Harbor for Forward-Looking Statements
Certain statements contained in this communication may
constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, are statements that could be deemed
forward-looking statements, including statements containing the
words “predicts,” “plans,” “expects,” “anticipates,” “believes,”
“goal,” “target,” “estimate,” “potential,” “may,” “might,” “could,”
“see,” “seek,” “forecast,” and similar words. Forward-looking
statements are based on Mimecast’s current plans and expectations
and involve risks and uncertainties which are, in many instances,
beyond Mimecast’s control, and which could cause actual results to
differ materially from those included in or contemplated or implied
by the forward-looking statements. Such risks and uncertainties
include, but are not limited to, the following: (i) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the transaction agreement; (ii) the failure to
obtain certain required regulatory approvals to the completion of
the proposed transaction or the failure to satisfy any of the other
conditions to the completion of the proposed transaction; (iii) the
effect of the announcement of the proposed transaction on the
ability of Mimecast to retain and hire key personnel and maintain
relationships with its key business partners and customers, and
others with whom it does business, or on its operating results and
businesses generally; (iv) the response of competitors to the
proposed transaction; (v) risks associated with the disruption of
management’s attention from ongoing business operations due to the
proposed transaction; (vi) the ability to meet expectations
regarding the timing and completion of the proposed transaction;
(vii) significant costs associated with the proposed transaction;
(viii) potential litigation relating to the proposed transaction;
(ix) restrictions during the pendency of the proposed transaction
that may impact Mimecast’s ability to pursue certain business
opportunities; and (x) the other risks, uncertainties and factors
detailed in Mimecast’s filings with the Securities and Exchange
Commission (SEC). As a result of such risks, uncertainties and
factors, Mimecast’s actual results may differ materially from any
future results, performance or achievements discussed in or implied
by the forward-looking statements contained herein. Mimecast is
providing the information in this communication as of this date and
assumes no obligations to update the information included in this
communication or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.
Contacts
For Mimecast
Investor
ContactInvestors@Mimecast.com
Press ContactPress@Mimecast.com
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