Constellation Software Inc. Announces Completion of the Share Purchases With Respect to the Employee Plans
Market Wire, June, 2008
Constellation Software Inc. ("Constellation" or the "Company") (TSX: CSU) today announced that it has completed purchasing the common shares required for the 2007 employee bonus plan and the 2007 directors' compensation programs excluding common shares for those directors who are affiliated with one of its principal shareholders (the "Affiliated Shareholder Directors").
As outlined in the Company's public fillings Constellation requires certain employees and directors to invest portions of their annual compensation in common shares of the Company. In order to fulfill these obligations, Constellation holds back portions of the annual compensation and forwards them to an independent third party purchasing agent to buy the Company's common shares on the open market. During the period commencing April 1, 2008 and ending June 19, 2008 the independent third party purchasing agent purchased 173,517 common shares at an average cost of C$24.506 to fulfill the obligations under these plans (excluding common shares to be purchased on behalf of the Affiliated Shareholder Directors).
In accordance with the various plans these common shares are subject to restrictions that prevent their recipients from selling such shares for a period of at least 3 years.
Funds withheld for the purchase of shares for the Affiliated Shareholder Directors (in aggregate US$100,000) have not yet been used to purchase Constellation common shares. The Company anticipates that these funds will be used to purchase common shares after the release of its second quarter results on August 8, 2008.
About Constellation:
Constellation's common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries.
Contacts: Constellation Software Inc. John Billowits Chief Financial Officer (416) 861-0630 Email: info@csisoftware.com Website: www.csisoftware.com
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