VCG Vencan Gold (Tier2)

Constellation Software Inc. ("Constellation") (TSX:CSU), announced today that it
has entered into agreements with Bond International Software plc ("Bond" or the
"Company") (LSE:BDI) to acquire 8,225,641 voting and non-voting convertible
treasury shares of the Company for 75p per share. These shares, combined with
Constellation's existing Bond shareholding, will raise its economic interest in
Bond to 31% of the outstanding shares, and its voting interest to 22% of the
outstanding voting shares. Bond will use the proceeds of the offering to
purchase VCG, LLC. ("VCG"), one of Bond's largest North American competitors.
Constellation currently holds US$4.1 million of debentures in VCG, plus accrued
interest, all of which will be repaid upon closing of this transaction. 


Constellation will sign a standstill agreement as part of the transaction that
precludes it from acquiring further voting shares of Bond for five years.
Constellation has the right to appoint one director to the Bond board. Details
of the agreements, including the conditions precedent that must be satisfied
prior to the closing of the transaction can be found on the RNS website of the
London Stock Exchange
(http://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html).


Constellation President Mark Leonard stated, "Bond is the leading worldwide
provider of software for the staffing industry. This is an inherently volatile
software sector but we believe that over the long run it has attractive
economics. We'd nearly always prefer to own 100% of a business. However, we
sometimes encounter competent managers who are committed shareholders of their
businesses. In those instances, we are happy to be a supportive long term
shareholder, holding either a minority or majority stake. Steve Russell and his
team are long term employees and significant shareholders of Bond. We look
forward to having a front row seat and a meaningful economic stake as they
continue to build a great business." 


Forward Looking Statements

Certain statements herein may be "forward looking" statements that involve known
and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of Constellation or the industry to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These statements
reflect current assumptions and expectations regarding future events and
operating performance and speak only as of the date hereof. Forward looking
statements involve significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not necessarily be
accurate indications of whether or not such results will be achieved. A number
of factors could cause actual results to vary significantly from the results
discussed in the forward looking statements. These forward looking statements
are made as of the date hereof and Constellation assumes no obligation to update
any forward looking statements to reflect new events or circumstances.


About Bond International Software plc

Bond International Software plc is a global provider of recruitment and human
capital management (HCM) software and services.


Bond is the largest provider of specialist staffing software for recruitment
agencies worldwide. It is a rapidly growing provider of web-based e-recruitment
and talent management software to the corporate market and provides HR,
recruitment, payroll software and bureau services directly to both the public
and private sectors.


Established in 1973 and quoted on the AIM market of the London Stock Exchange
since 1997, the company has consistently achieved financial growth and maximised
investment in the development of technology and service provided to its
international client base.


It has over 30 years' experience in the development and creation of products and
services that have become industry standards. Headquartered in the United
Kingdom, the Group also has offices in the United States, Australia, Canada,
South Africa and Hong Kong with a global team of over 400 employees and 3500
customers. Bond's 3500 customers include some of the largest recruitment
agencies in the world, some of the best known corporations and a large number of
private sector organisations.


About Constellation Software Inc.

Constellation acquires, manages and builds vertical market software businesses
that provide mission critical software solutions. Constellation's common shares
are listed on the Toronto Stock Exchange under the symbol "CSU". Further
information about Constellation may be obtained from the Company's web site at
www.csisoftware.com.

Vencan Gold (Tier2) (TSXV:VCG)
Historical Stock Chart
From Jun 2024 to Jul 2024

Vencan Gold (Tier2) (TSXV:VCG)
Historical Stock Chart
From Jul 2023 to Jul 2024