TEMENOS AG (“TEMENOS”) STATEMENT REGARDING EXTENSION TO TAKEOVER CODE DEADLINE
For immediate release
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Temenos notes the announcement today that the Misys plc (“Misys”) 'put up or shut up' deadline has been extended to 5.00 p.m. on 2 April 2012 in accordance with Rule 2.6(c) of the UK Takeover Code.
Temenos continues to believe that a combination with Misys has compelling strategic logic and would create one of the leading companies in the financial services software industry, benefitting from enhanced scale and growth prospects. It is also expected that the combination will yield significant cost savings and operational synergies through scale efficiencies and cross-selling opportunities.
Discussions between the parties are continuing. There can be no certainty that any transaction will take place, nor as to its terms. A further announcement will be made as and when appropriate.