These prices imply a significant premium of 19.6% over GFI Informatique’s closing share price of €7.11, adjusted for the proposed 2006 dividend of €0.20 per share, and of 21.6 % over its adjusted 1 month weighted average price of €6.99, all as of 27 April 2007 (this date being the last day before GFI Informatique announced a decision to postpone its proposed extraordinary general meeting to 21 May 2007), which would be a very attractive offer to all shareholders and warrant holders. In addition, at present, it is also expected to be a significant premium over the share subscription warrants in connection with GFI Informatique’s proposed share capital increase reserved for a company controlled by private equity group Apax.
Fujitsu Services has no formal agreement with GFI Informatique. It approached Mr Jacques Tordjman, the chairman and chief executive officer of GFI Informatique to discuss this offer on 26 April 2007 and Fujitsu Services is continuing those discussions.
The acquisition of GFI Informatique would create a leading IT services business in Europe, complementing the existing strengths of Fujitsu Services with GFI Informatique's strong French and Southern European businesses. Full terms and conditions of Fujitsu Services' offer may be found at http://uk.fujitsu.com/fullterms020507
David Courtley, chief executive of Fujitsu Services said, “It has been our declared intention to grow the size of our business in continental Europe. The combination of Fujitsu Services and GFI Informatique would enable us to do this and provide both companies’ customers with a greater range of services.”
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