Offer for Softline Limited
2003年8月2日 - 1:44AM
RNSを含む英国規制内ニュース (英語)
1 August 2003
Sage announces offer for South African business management software vendor
Softline
The Sage Group plc ("Sage") announces an offer to acquire the business and
assets of Softline Limited ("Softline"), which is listed on the JSE Securities
Exchange South Africa ("JSE"), for an equity value of �66.0m,to be financed
using Sage's existing debt facilities. Softline has net cash of �11.1m as at 31
March 2003, giving an enterprise value of �54.9m. This announcement follows a
previous announcement, on 25June 2003, stating that Sage was considering making
an offer.
The offer will be considered by Softline's independent process committee, and
is also conditional upon finalising acquisition agreements, Softline
shareholders' approval and regulatory clearances. The offer values Softline at
the equivalent of R2.00 per share, a premium of 6.4% to the closing share price
on 31 July 2003, and a premium of 26.6% to the closing share price on 24 June
2003, before Sage's initial announcement.
Softline is a leading provider of business management software in South Africa
and Australia. The proposed acquisition of the Softline business is consistent
with the Sage strategy of expanding geographically into attractive markets.
Softline's revenue for the year ended 31 March 2003 was �53.5m, with an
operating profit of �7.3m. Softline has net assets of �44.2m.
Simultaneous with this announcement, Softline has issued an announcement of the
salient terms of the offer in accordance with South African regulations.
Further information on the progress of the offer will be announced as
appropriate.
All financial information calculated on the basis of �1 = ZAR 11.9
Enquiries:
The Sage Group plc 0191 255 3000 Financial Dynamics 020 7831 3113
Paul Walker, Chief Executive Giles Sanderson
Paul Harrison, Finance Director Harriet Keen
Phil Branston, Investor Relations Caroline Ledosquet
Notes to editors:
The Sage Group plc is a leading international supplier of accounting and
business management software solutions and related products and services for
small to medium-sized enterprises. Formed in 1981, Sage was floated on the
London Stock Exchange in 1989 and the Group now employs over 5,500 people
worldwide.
END