Trintech Group Plc (Nasdaq:TTPA), a leading provider of integrated
financial governance, risk management and compliance (GRC)
solutions for commercial, financial and healthcare markets,
announced that shareholders today voted in favour of the
acquisition of Trintech by Cerasus II Limited (a company formed by
Spectrum Equity Investors) by way of a scheme of arrangement.
Trintech will now apply to the Irish High Court to set a date for
the sanction hearing by the High Court. If, at that hearing,
the High Court sanctions the Scheme without modification, it is
expected that the Scheme will become effective shortly thereafter
and the acquisition of Trintech by Cerasus II Limited will become
effective. Further announcements will be made in due course.
The results of the resolutions put to the Court Meeting and the
EGM held on 29 November 2010 were as follows:
Court Meeting
Resolution to approve the Scheme of Arrangement:
|
|
In Person |
By Proxy |
Total |
Present and Voting |
Number of Shareholders |
2 |
30 |
32 |
(Note 1) |
Holding of Shares |
316,110 |
21,521,098 |
21,837,208 |
For |
Number of Shareholders |
2 |
29 |
31 |
(Note 2) |
Holding of Shares |
316,110 |
20,423,858 |
20,739,968 |
|
Percentage of shareholders voting |
6.25% |
90.63% |
96.88% |
|
Percentage of Shares Voting |
1.45% |
93.53% |
94.98% |
Against |
Number of Shareholders |
0 |
1 |
1 |
|
Holding of Shares |
0 |
1,097,240 |
1,097,240 |
|
Percentage of shareholders voting |
0.00% |
3.13% |
3.13% |
|
Percentage of Shares Voting |
0.00% |
5.02% |
5.02% |
Withheld |
Number of Shareholders |
0 |
1 |
1 |
|
Holding of Shares |
0 |
147,402 |
147,402 |
Note 1: Where a Form of Proxy mandated that the vote be
withheld, the proxy did not vote, and that member was not included
as a member "present and voting" within the meaning of section
201(3) of the Companies Act 1963.
Note 2: Where a Form of Proxy allowed the Chairman
discretion to vote, the Chairman exercised that discretion to vote
in favour of the Scheme. The Chairman held Forms of Proxy allowing
him discretion from 3 members holding in the aggregate 621 Ordinary
Shares.
The total number of votes validly cast was 21,837,208;
representing 64.5% of the Company's issued share capital at close
of business on the day before the Court Meeting.
EGM
The resolutions put to the Extraordinary General Meeting
convened in accordance with the Notice of EGM set out at Part XI of
the Scheme Document were passed, the details of the votes being as
follows:
|
|
Votes FOR |
% |
Votes AGAINST |
% |
Total Voted |
Withheld |
Resolution 1 |
20,739,968 |
94.98% |
1,097,240 |
5.02% |
21,837,208 |
147,402 |
Resolution 2 (special resolution) |
20,739,706 |
94.99% |
1,094,824 |
5.01% |
21,834,530 |
150,080 |
Resolution 3 |
20,739,790 |
94.98% |
1,095,040 |
5.02% |
21,834,830 |
149,780 |
Resolution 4 (special resolution) |
20,739,790 |
94.98% |
1,097,240 |
5.02% |
21,837,030 |
147,580 |
Resolution 5 |
20,738,388 |
94.98% |
1,096,442 |
5.02% |
21,834,830 |
149,780 |
About Trintech Group
Trintech Group Plc (Nasdaq:TTPA) is a leading global provider of
integrated financial governance, risk management, and compliance
(GRC) software solutions for commercial, financial, and healthcare
markets. Trintech's recognised expertise in reconciliation process
management, financial data aggregation, revenue and cost cycle
management, financial close, reporting, risk management, and
compliance enables customers to gain greater visibility and control
of their critical financial processes leading to better overall
business performance.
For more information on how Trintech can help you increase
confidence in business performance and reduce financial risk,
please contact us online at www.trintech.com or at our principal
business office in Addison, Texas, or through an international
office in Ireland, the United Kingdom, or the Netherlands.
Trintech • 15851 Dallas Parkway, Suite 900 • Addison, TX 75001 •
Tel 1 972 701 9802 Trintech UK Ltd. • Warnford Court, 29
Throgmorton St. • London EC2N2AT, UK • Tel +44 (0) 20 7628
5235 Trintech Technologies • Block C, Central Park • Leopardstown,
Dublin 18, Ireland • Tel +353 1 293 9840 Trintech • Cypresbaan 9 •
2908 LT Capelle a/d Ijssel, The Netherlands • Tel +31 (0) 10
8507 474
This announcement does not constitute an offer or recommendation
to purchase, sell, subscribe for or exchange or an invitation to
purchase, sell, subscribe for or exchange any securities or the
solicitation of any vote or approval in any jurisdiction pursuant
to the proposed acquisition or otherwise. Any decision in relation
to the scheme of arrangement and related proposals should be made
only on the basis of the related documentation as and when
issued.
The Directors of Trintech Group plc accept responsibility for
the information contained in this announcement. To the best
of their knowledge and belief (having taken all reasonable care to
ensure such is the case), the information contained in this
announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
Any person interested in 1% or more of any class of relevant
securities of Trintech Group plc (including by means of an option
in respect of, or a derivative referenced to, any such 'relevant
securities') may have disclosure obligations under Rule 8.3 of the
Irish Takeover Panel Act 1997, Takeover Rules, 2007 (as amended)
effective from the commencement of the offer period (being 21
September 2010).
'Interests in securities' arise, in summary, when a person has
long economic exposure, whether conditional or absolute, to changes
in the price of securities. In particular, a person will be treated
as having an 'interest' by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative
referenced to, securities.
Unless otherwise stated, capitalised terms in this announcement
have the meaning given to them in the scheme circular dated 2
November 2010.
Terms in quotation marks are defined in the Irish Takeover
Rules, which can also be found on the Irish Takeover Panel's
website. If you are in any doubt as to whether or not you are
required to disclose a dealing under Rule 8, please consult the
Panel's website at www.irishtakeoverpanel.ie or contact the Panel
on telephone number +353 (0)1 678 9020; fax number +353 (0)1 678
9289.
This announcement has been issued through the
Companies Announcement Service of The Irish Stock Exchange
CONTACT: William Blair & Company
312.236.1600
DDaul@williamblair.com
222 West Adams Street,
Chicago, Illinois 60606
Trintech Group Plc
Press Contact:
Dallas:
Dave Tomlinson - Director, Marketing
+1 972 739-1611
dave.tomlinson@trintech.com
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