FIN
19/12/2014 08:30
TAKEOVER
NOT PRICE SENSITIVE
REL: 0830 HRS Finzsoft Solutions Limited
TAKEOVER: FIN: For the information of Finzsoft Shareholders
SILVERLAKE AXIS LTD FORMS COMPANY TO LAUNCH TAKEOVER OFFER FOR FINZSOFT
SOLUTIONS LIMITED
18 December 2014 - Silverlake Axis Limited ("SAL") has today formed a
company, Silverlake HGH Limited (the "Offeror"), with a party associated with
Andrew Holliday, who is the Managing Director of Finzsoft Solutions Limited
("Finzsoft") (NZX:FIN), an Auckland-based financial technology company that
develops and implements software and solutions for banks and financial
institutions in New Zealand and Australia, and is also associated with the
majority shareholder of Finzsoft.
The Offeror has entered into a lock-up agreement with the majority
shareholder of Finzsoft (the "Seller"), under which the Offeror has agreed to
make a full takeover offer under the New Zealand Takeovers Code for all of
Finzsoft's shares at a price of NZ$3.00 per share. The Seller has committed
to accept the offer in relation to all of its approximately 65.916%
shareholding.
51 percent of the Offeror is held by SAL with the remaining 49 percent held
by interests associated with Andrew Holliday.
Kwong Yong Sin, Group Managing Director of SAL said the acquisition is in
line with SAL's strategy to expand its existing portfolio of software
solutions and deliver new collaborative digital economy offerings throughout
the Asia Pacific region.
"Thereare strong synergies between SAL and Finzsoft's products and solutions,
and a natural alignment of target customers in the Asia Pacific region, being
Tier One banks. We see Finzsoft as an important part of our Asia Pacific
strategy going forward, and see Andrew Holliday and the Finzsoft team as
having the capacity to leverage SAL's product and service offering to access
opportunities in the Asia Pacific market."
"The proposed transaction will provide Finzsoft with a committed cornerstone
shareholder with deep industry knowledge and a global reach that will be
beneficial as Finzsoft expands to meet a growing demand for its core and
vertical banking applications."
About Silverlake Axis Ltd (5CP.SI)
www.silverlakeaxis.com
Silverlake Axis Ltd (SAL) is a leading provider of digital economy solutions
and services for major organisations in Banking, Insurance, Payments, Retail
and Logistics industries. The Group's Silverlake Axis Software and Services
Solutions are delivering operational excellence and enabling business
transformations at over 100 organisations across Asia, including 40% of the
largest banks in South East Asia. SAL has a 25 year track record of
successfully delivering proven Financial Institution Class Core Software and
is the core system platform partner of choice for the top 3 of the 5 largest
ASEAN super regional financial institutions.
UnderAxis Systems Holdings Limited, the Group was listed on the SGX-SESDAQ on
12 March 2003. It was renamed Silverlake Axis Ltd in 2006 following the
acquisition of SAACIS, the company that owns the Silverlake Integrated
Banking Solution (SIBS) and the listing was transferred to the Mainboard of
the Singapore Exchange on 22 June 2011.
SAL's Founder and Executive Chairman, Mr Goh Peng Ooi, is a highly regarded
information technology visionary and entrepreneur who was recently named
Ernst & Young Master Entrepreneur of the Year 2014 Malaysia.
About Finzsoft Solutions Limited (NZX:FIN)
www.finzsoft.co.nz
Finzsoft provides software and solutions to banks and financial institutions.
In 2013 the company's Managing Director, Andrew Holliday purchased, through
Holliday Group Holdings (ICT Investments) Limited the majority shareholding
in the company.
In 2014 Finzsoft acquired Sush Mobile.
Together, Sush Mobile and Finzsoft leverage 'mBank' solutions to respond to
the key current disruptive trends in banking - O2O (Online to Offline), IoT
(Internet of Things) and Customer Centricity.
The two companies have partnered to develop Finzsoft's Seal the Deal app and
mobile banking apps.
Finzsoft is based in Auckland, New Zealand and has over 90 employees.
End CA:00259146 For:FIN Type:TAKEOVER Time:2014-12-19 08:30:29
