| 30 October 2007 | |||||
Scheme of arrangement becomes effective | |||||
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Further to the announcement made on 25 October 2007, iSOFT confirms that the Revised Scheme has today become effective in accordance with its terms.
In accordance with paragraph 21 of Part 2 (Explanatory Statement) of the Revised Scheme Document, trading in iSOFT's Shares on the London Stock Exchange's market for listed securities was suspended with effect from close of business on 25 October 2007. iSOFT's Shares were de-listed at 8.00 a.m. this morning. With effect from the Revised Scheme taking effect today, John Weston (Chairman and Acting Chief Executive Officer), Gavin James (Group Finance Director) and Bill Henry (Chief Operating Officer) have resigned as Executive Directors of iSOFT and Geoff White, Ken Lever, Eurfyl ap Gwilym, David Thorpe and Rene Kern have resigned as Non-Executive Directors. Gary Cohen and Gordon Mackay have been appointed as Directors of iSOFT. As outlined in the Revised Scheme Document, the latest date for the cash consideration to be delivered, and for IBA Consideration Shares in respect of elections under the Share Alternative to be issued, to iSOFT Shareholders is 12 November 2007. Elections were made under the Share Alternative in respect of 39,190,294 Scheme Shares. This represented 20.1% of the Scheme Shares. Shareholders holding the remaining 149,358,354 Scheme Shares will receive cash consideration. Any capitalised term used but not defined in this announcement has the same meaning as is given to it in the Revised Scheme Document.For further information, please contact: |
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