Business Services Industry
Delisting of Telelogic; Postponed Annual General Meeting; No Interim Report
Business Wire, March 31, 2008
MALMO, Sweden -- Regulatory News:
IBM's public offer for Telelogic (STO:TLOG) was declared unconditional on 27 March 2008. IBM now controls approximately 96.9 per cent of the shares in Telelogic and has announced that compulsory acquisition proceedings regarding the remaining shares will be initiated.
Upon request by IBM, the board of directors of Telelogic has issued a notice to an Extraordinary General Meeting to be held on 15 April 2008 for the purpose of electing a new board of directors, which is to be composed by IBM representatives. Upon request by IBM, the board of directors has also applied for a delisting of the Telelogic share from OMX Nordic Exchange Stockholm as soon as possible. As soon as the exchange has resolved on the delisting, it will announce when the trading will cease.
Furthermore, with reference to the above and upon request by IBM, the board has resolved to postpone the Annual General Meeting 2008 scheduled for Tuesday, 6 May 2008. A new date for the Annual General Meeting will be set by the new Telelogic board. Moreover, the board has resolved not to issue its interim report for the first quarter 2008 originally scheduled for 22 April 2008.
About Telelogic
Telelogic is the leading global provider of software solutions for Enterprise Lifecycle Management (ELM). Award-winning Telelogic software helps customers design, develop, and deliver the world's most advanced and innovative products, systems, and software more efficiently by aligning and optimizing development lifecycles and business processes with business objectives and customer needs. Telelogic helps customers improve quality and predictability while reducing time-to-market and overall costs. Headquartered in Malmo, Sweden with U.S headquarters in Irvine, California, Telelogic conducts business in more than 40 countries. More than one third of the Fortune Global 500 companies use Telelogic software including market-leading aero/defense, automotive, financial services, software/electronic and telecommunications companies and governments worldwide. For more information, see www.telelogic.com.
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