MALMO, Sweden, June 01, 2005 (PRIMEZONE) -- The tender offer from Telelogic AB (Stockholm Stock Exchange:TLOG), for Focal Point AB (NGM-list/FOCA) has been accepted to such an extent that Telelogic's total holding of shares in Focal Point, post expiration of the extended acceptance period, amounts to 97.9 percent of the votes and 95.8 percent of the capital in Focal Point. Telelogic intends to initiate a compulsory acquisition procedure regarding the remaining shares in Focal Point.
In order to allow those shareholders in Focal Point who have not yet accepted the offer to participate in the offer, Telelogic has decided to further extend the acceptance period until June 15, 2005, inclusive.
During the ordinary and the extended acceptance period, the offer has been accepted by shareholders representing 25,000 shares of series A and 2,697,976 shares of series B in Focal Point, corresponding to 25.2 percent of the votes and 46.4 of the capital. In addition, Telelogic has, by means of a separate agreement with the main owners of Focal Point, acquired a total of 625,000 shares of series A and 2,275,700 shares of series B, corresponding to 72.7 percent of the votes and 49.4 percent of the capital in Focal Point. In total, shares tendered in the offer and shares acquired by Telelogic hence amount to 650,000 shares of series A and 4,973,676 shares of series B, corresponding to 97.9 percent of the votes and 95.8 percent of the capital in Focal Point.
Settlement for those who have accepted Telelogic's offer during the first extension of the acceptance period is expected to commence on or around June 10, 2005. Settlement for those who accept the offer during the coming extension is expected to commence on or around June 29, 2005.
About Telelogic
Founded in 1983, Telelogic(R) is a leading global provider of solutions for advanced systems and software development. Telelogic's intuitive, best-in-class software tools automate and support best practices throughout the application lifecycle, leaving development teams free to concentrate on core competencies and apply their skills and energy to value-added tasks. By optimizing each phase of development, Telelogic enables companies to deliver higher quality systems and software with greater predictability, reduced time-to-market and lower overall costs.
To ensure interoperability with third-party tools, Telelogic's products are built on an open architecture and standardized languages. As an industry leader and technology visionary, Telelogic is actively involved in shaping the future of advanced systems and software development by participating in industry organizations like ETSI, INCOSE, ITU-T, OMG and others. Headquartered in Malmo, Sweden with U.S. headquarters in Irvine, California, Telelogic has operations in 17 countries worldwide. Customers include Alcatel, BAE SYSTEMS, BMW, Boeing, DaimlerChrysler, Deutsche Bank, Ericsson, General Motors, Lockheed Martin, Motorola, NEC, Nokia, Philips, Siemens, Thales and Vodafone. For more information, please visit www.telelogic.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=103916&fn=wkr0001.pdf