WM-data acquisition information
On 21 August , 2006, LogicaCMG announced an offer to WM-data shareholders and holders of convertible debentures to acquire all shares and convertibles in WM-data. The offer was closed on 17 October, 2006. As a result, LogicaCMG now owns 95.34 per cent. of the WM-data shares.
On 25 October, 2006, LogicaCMG requested a compulsory acquisition of the remaining shares and convertible debentures issued by WM-data AB pursuant to the rules of the Swedish Companies Act. The WM-data share was subsequently delisted from the Stockholm Exchange on 24 November.
Mr Robert Ohlsson at FöretagsJuridik Nord & Co has been named as LogicaCMG’s arbitrator for the squeeze-out.
Minority shareholders and convertible debenture holders had until 13 November 2006 to nominate an arbitrator. On 15 November, 2006, WM-data applied to the Stockholm District Court for the appointment of a trustee.
On 23 February 2009, Logica announced the commencement of payment related to the WM-data redemption process. The Arbitral Tribunal set the amount to be paid for each share and convertible bond at SEK 26.70 plus statutory interest (2% plus the Swedish Central Bank's reference rate). The total redemption price plus interest (accrued from 25 October 2006) amounted to £48.4 million (SEK 602 million).
The total consideration of £48.4 million was paid to minority shareholders in a series of payments which complete in March 2009.
Further information about the acquisition (PDF):
- 23 February 2009 - Commencement of payment related to redemption process
- 14 November 2008 - Letter to holders of convertible
- 20 April 2007 - Advertisement regarding compulsory redemption process
- 29 November 2006 - Letter to debenture holders regarding new final day for conversion
- 31 October 2006 - Information on compulsory redemption
- 31 October 2006 - Squeeze-out Letter to Shareholders
- 31 October 2006 - Squeeze-out Advertisement
- 27 October 2006 - Squeeze-out procedure regarding WM-data's outstanding shares and convertibles
- 25 October 2006 - Announcement of last day of trading with WM-data shares
- 24 October 2006 - Final verification of acceptances
- 19 October 2006 - Final acceptance level
- 16 October 2006 - WM-data will apply de-listings
- 10 October 2006 - Stock exchange announcement
- 02 October 2006 - EGM voting results
Documents for WM-data Shareholders
- 18 September 2006 - English Information Brochure
- 18 September 2006 - Swedish Information Brochure
- 15 September 2006 - English Announcement of Offer Document
- 15 September 2006 - Swedish Announcement of Offer Document
- 15 September 2006 - English Offer Document
- 15 September 2006 - Swedish Offer Document
Prospectus
- 12 September 2006 - Recommended cash and share offer for WM-data AB
- 12 September 2006 - Prospectus
- 12 September 2006 - UK Circular
Summary
Other downloads
- 30 August 2006 - Interim results presentation with WM-data (PowerPoint)
- 21 August 2006 - Archived webcast presentation and audio feed
- 21 August 2006 - Recommended offer to acquire WM-data press release
- 21 August 2006 - Recommended offer to acquire WM-data presentation (PowerPoint)
Contacts
LogicaCMG media relations - Carolyn Esser,
+44 (0) 2074461786 (mobile: +44 (0) 7841 602391)
LogicaCMG investor relations - Karen Keyes,
+44 (0) 2074464372 (mobile: +44 (0) 7801 723682)
WM-data media relations - Anna Carlson,
+46 8671 9272
ABN AMRO - Jitesh Gadhia,
+44 (0) 2076787678
ABN AMRO (Stockholm) - Per-Ola Bergman,
+46 (0) 8 5723 6036
Hoare Govett - Bob Pringle/Hugo Fisher,
+44 (0) 2076788000
Merrill Lynch Investment Banking - Bob Wigley/Andrew Hayes,
+44 (0) 2076281000
Merrill Lynch Corporate Broking - Michael Findlay/Andrew Osborne,
+44 (0) 2076281000