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| 4 October 2007 | |||||||
IBA offer approved | |||||||
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The Board of iSOFT is pleased to announce that the shareholder resolutions to approve the revised offer by IBA for iSOFT announced on 21 August 2007 (the 'Revised Offer'), to be effected by means of a scheme of arrangement (the 'Revised Scheme'), were duly passed at the Court Meeting and the Extraordinary General Meeting held earlier today.
At the Court Meeting, a majority in number of iSOFT Shareholders, who voted either in person or by proxy and who together represented over 75% by value of the votes cast, voted in favour of the resolution to approve the Revised Scheme. The resolution was accordingly passed. At the Extraordinary General Meeting, the special resolution providing for the implementation of the Revised Scheme was also passed by the requisite majority. COURT MEETING The voting on the resolution to approve the Revised Scheme was taken on a poll and the results were as follows: Number of Meeting Shareholders voting: For: 398 (98.03%) Against: 8 (1.97%) Number of votes: For: 58,555,013 (99.98%) Against: 12,982 (0.02%) EXTRAORDINARY GENERAL MEETING The voting on the Special Resolution giving effect to the Revised Scheme was taken on a poll and the results were as follows: Number of votes: For: 117,832,722 (99.98%) Against: 32,426 (0.02%) Implementation of the Revised Offer remains subject to the High Court of Justice for England and Wales sanctioning the Revised Scheme at the Court Hearing which is expected to take place on 25 October 2007 and confirming the associated reduction of iSOFT's share capital at the Court Hearing which is expected to take place on 29 October 2007. Subject to the Revised Scheme receiving the sanction and confirmation of the Court on those dates, the effective date of the Revised Scheme is expected to be 30 October 2007. It is also expected that if the Revised Scheme becomes effective on 30 October 2007, listing of the iSOFT Shares will be cancelled at or about 8.00am on 30 October 2007. The consideration due to shareholders is expected to be sent no later than 14 days after the effective date. Copies of the resolutions passed at the iSOFT Court Meeting and EGM will shortly be submitted to the Financial Services Authority ('FSA') and will shortly be available for inspection by the public during normal business hours on any weekday (except public holidays) at the FSA's Document Viewing Facility which is situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS (tel. +44 (0)20 7676 1000). Any capitalised term used but not defined in this announcement has the same meaning as is given to it in the Revised Scheme Circular. |
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