FIN
18/12/2014 11:35
TAKEOVER
PRICE SENSITIVE
REL: 1135 HRS Finzsoft Solutions Limited
TAKEOVER: FIN: Statement From Finzsoft Chair Re: Potential Takeover Offer
STATEMENT FROM FINZSOFT CHAIRMAN, BRENT IMPEY
18 December 2014, Auckland -The Board of Finzsoft Solutions Limited
(Finzsoft) (NZX:FIN) welcomes the announcement today that Andrew Holliday,
who is both the Managing Director of Finzsoft and associated with the
majority shareholder of Finzsoft has formed a company, Bidco Limited (Bidco)
with Silverlake Axis Limited (SAL), a provider of digital economy solutions,
and understands that BidCo intends making an offer to all Finzsoft
shareholders under the Takeovers Code in the New Year.
As signaled to the market, the Finzsoft board had engaged PWC to assist with
a strategic review of Finzsoft's capital and ownership structure. Through the
review process we identified Silverlake Axis Limited as a strategic partner
in the Asia Pacific region with the expertise, market access and client base
to take Finzsoft to the next level.
If BidCo proceed with the offer, it will send finalised offer documents to
shareholders but I understand that this will not occur until after the
holiday period. The Board will provide a further update on the process as it
becomes aware.
An Independent adviser's report on the merits of the offer will be
commissioned by the Board in accordance with the Takeovers Code. The company
will also prepare its response to the offer. At this time it is hoped that
the report and the response can be distributed to shareholders with the
offer. ENDS
Announcement contacts:
Finzsoft Chairman, Brent Impey, 021 925 302
Media contact, Trish Sherson, Sherson Willis, 021 570 803
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:00259097 For:FIN Type:TAKEOVER Time:2014-12-18 11:35:11
