MONTREAL, QUEBEC -- (Marketwire) -- 06/10/10 -- Logibec Groupe Informatique Ltee (TSX: LGI) (Logibec or the "Company") announces today that it has filed with Canadian securities regulatory authorities and has commenced mailing of the directors' circular (the "Directors' Circular") to shareholders of Logibec in connection with the previously announced offer (the "Offer") by OPE LGI Inc. (the "Offeror"), a new acquisition company managed by OMERS Private Equity Inc., and in which a subsidiary of Societe generale de financement du Quebec ("SGF") has agreed to make an indirect minority equity commitment, to purchase all the outstanding common shares of Logibec, at a price of $26.00 in cash per common share. As previously announced, Logibec and the Offeror entered into a support agreement on May 27, 2010 providing for the terms of the Offer and the agreement by the board of directors of Logibec to recommend that shareholders accept the Offer. The Offer is the culmination of a lengthy and thorough strategic review process undertaken by Logibec to maximize value commencing in the summer of 2009 during which approximately 30 parties, both strategic and financial, were contacted by Logibec.
The Directors' Circular contains, among other things, the determination of the board of directors of Logibec that the consideration payable under the Offer is fair, from a financial point of view, to shareholders (other than members of senior management of Logibec and SGF), that the Offer is in the best interests of Logibec and that shareholders accept the Offer and tender their common shares to the Offer. The Directors' Circular sets forth the detailed reasons for the recommendation of the board of directors of Logibec.
The Offeror formally launched the Offer with the mailing of its takeover bid circular (the "Offer Circular") on June 10, 2010. The Offer will be open for acceptance until 5:00 p.m. (Eastern Time) on July 16, 2010, unless withdrawn, modified or extended. The full terms and conditions of the Offer are outlined in the Offer Circular.
Shareholders are urged to carefully read the Offer Circular and Directors' Circular, which contain important information about the Offer.
Shareholders may obtain a copy of the Offer Circular or the Directors' Circular on the website maintained by the Canadian securities regulatory authorities at www.sedar.com.
ABOUT LOGIBEC
Logibec is among the fastest-growing North American companies specializing in information systems for the health and social services sector. In Canada, Logibec services the full spectrum of healthcare facilities, from acute care hospitals to community care centers, including healthcare authorities, with a strong market presence in Quebec. Logibec's wholly-owned subsidiary, MDI Achieve, is a leader in the U.S. eldercare market with a customer base of over 7,000 facilities and communities. An experienced team of approximately 430 professionals allows Logibec to distinguish itself in these markets. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, St. Louis, Minneapolis and Dallas.
Certain statements contained in this MD&A, including the documents incorporated by reference, may contain projections and "forward-looking statements" within the meaning of that phrase under Canadian securities laws. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions may be used to identify forward-looking statements. Those statements reflect our current views with respect to future events or conditions, including prospective results of operations, financial position, and predictions of future actions, plans or strategies. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, technology changes, development of new products, proper performance of our software, the reliability of our payroll processing services, the protection and privacy of personal information which we hold, the risks associated with credit, bank financing and the exchange rate of the U.S. currency, market concentration, recruitment and hiring of competent personnel and access to tax credits. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying our projections or forward-looking statements prove incorrect, our actual results may vary materially from those described in this MD&A as intended, planned, anticipated, believed, estimated or expected. We do not intend and do not assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise, unless required by law.
Contacts:
Logibec Groupe Informatique Ltd.
Claude Roy
President and Chief Executive Officer
514-766-0134
Logibec Groupe Informatique Ltd.
Marc P. Brunet
Chief Financial Officer
514-762-3833