Offer Update
July 10 2003 - 12:18PM
UK Regulatory
RNS Number:4246N
SunGard Data Systems Incorporated
10 July 2003
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA OR JAPAN
SunGard buys 29.46% of Sherwood International Plc
The Board of SunGard Data Systems Inc. announces that SunGard Insurance Services
Limited (the "Offeror"), its wholly owned subsidiary newly incorporated for the
purposes of the offer for Sherwood announced earlier today, has today acquired
in the market, for cash at a price of 140 pence per share, a total of 13,700,000
Sherwood Shares representing approximately 29.46 per cent. of the issued share
capital of Sherwood. These market purchases were carried out by Citigroup,
acting as agent for the Offeror.
As disclosed in the announcement of the Offer, SunGard and the Offeror have
received irrevocable undertakings and letters of intent to accept (or procure
the acceptance of) the Offer in respect of, in aggregate, 20,764,969 Sherwood
Shares (the "Committed Sherwood Shares"), representing approximately 44.66 per
cent. of the issued share capital of Sherwood. 10,288,466 Sherwood Shares
acquired by the Offeror today were previously included in the Committed Sherwood
Shares.
Accordingly, SunGard and the Offeror now own or have received irrevocable
undertakings and letters of intent in respect of, in aggregate, 24,176,503
Sherwood Shares, representing approximately 51.99 per cent. of the issued share
capital of Sherwood.
Terms herein have the same meaning as in the announcement of the Offer dated
10th July, 2003, save where the context requires otherwise.
Enquiries:
Citigroup Global Markets Limited
(financial adviser to SunGard and broker to the Offer)
Anthony Parsons +44 (0)20 7986 4000
Simon Alexander
M: Communications
(public relations consultants to SunGard)
Martin Forrest +44 (0)20 7153 1531
Nick Fox +44 (0)20 7153 1540
This information is provided by RNS
The company news service from the London Stock Exchange
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