Regulatory News:
Lawson Software (Nasdaq: LWSN) today announced that it will host a
webcast of its special meeting of stockholders on Wednesday, June 29,
2011, beginning at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). As
previously announced, at the special meeting, Lawson stockholders will
consider and vote upon, among other things, the proposed merger
transaction with GGC Software Holdings, Inc., an affiliate of Golden
Gate Capital and Infor. Lawson stockholders of record at the close of
business on Friday, May 27, 2011, will be entitled to vote at the
special meeting.
As previously announced on April 26, 2011, Lawson signed a definitive
merger agreement to be acquired by GGC Software, under which Lawson
stockholders would receive $11.25 per share in cash. The transaction is
expected to close on or after July 1, 2011.
Institutional Shareholder Services ("ISS”) and Glass Lewis, two leading
independent proxy advisory firms, recommend that Lawson stockholders
vote "FOR” the Company’s proposed transaction at the special meeting.
Both ISS and Glass Lewis also recommend that Lawson stockholders vote in
favor of all related board-sponsored proposals.
The special meeting will be held at Lawson’s Corporate Headquarters,
Hiawatha & Superior Meeting Rooms, 380 Saint Peter Street, St. Paul,
Minnesota, 55102.
Investors and other interested parties may access the special meeting by
visiting the company's investor website at www.lawson.com/investor.
Interested parties may also listen to this event by dialing
1-888-469-0973 (or 1-415-228-3886 for international callers) and using
the passcode "0629."
A replay will be available approximately one hour after the webcast and
conference call concludes. The webcast will remain on www.lawson.com/investor
under the "Presentations” section for two weeks. To access the replay,
dial 1-800-879-3386 (or 1-402-220-4713 for international callers) and
using the passcode "0629.” The telephone replay will be available for
one week.
On May 31, 2011, in connection with the merger, Lawson filed its
definitive proxy statement with the U.S. Securities and Exchange
Commission (the "SEC") and on June 15, 2011, Lawson filed a supplement
to its definitive proxy statement with the SEC. Lawson stockholders are
encouraged to read the company’s definitive proxy materials, in their
entirety as they provide, among other things, a detailed discussion of
the process that led to the proposed merger and the reasons behind the
Board of Directors' unanimous recommendation that stockholders vote
"FOR” the proposal to adopt the merger agreement. The company's
definitive proxy materials may be obtained free of charge at the SEC's
website at www.sec.gov.,
at Lawson's website, www.lawson.com,
or by contacting Investor Relations by phone at 651-767-4890, by email
at investor@lawson.com or by
mail at 380 St. Peter Street, St. Paul, MN 55102.
Lawson stockholders who have questions about the merger, need assistance
in submitting their proxy or voting their shares should contact the
company's proxy solicitor, MacKenzie Partners, Inc., at 1-800-322-2885;
Email: proxy@mackenziepartners.com.
About Lawson Software
Lawson Software is a global provider
of enterprise software. We provide business application software,
maintenance and consulting to customers primarily in specific services,
trade and manufacturing/distribution industries. We specialize in and
target specific industries including healthcare, services, public
sector, equipment service management & rental, manufacturing &
distribution and consumer products industries. Our software solutions
include Enterprise Financial Management, Human Capital Management,
Business Intelligence, Asset Management, Enterprise Performance
Management, Supply Chain Management, Service Management, Manufacturing
Operations, Business Project Management and industry-tailored
applications. Our applications help automate and integrate critical
business processes, which enable our customers to collaborate with their
partners, suppliers and employees, reduce costs and enhance business or
operational performance. Lawson is headquartered in St. Paul, Minn., and
has offices around the world. Visit Lawson online at www.lawson.com.
For Lawson’s listing on the First North exchange in Sweden, Remium AB is
acting as the Certified Adviser.
Forward-Looking Statements
This press release contains
forward-looking statements that contain risks and uncertainties. These
forward-looking statements contain statements of intent, belief or
current expectations of Lawson and its management. Such forward-looking
statements are not guarantees of future results and involve risks and
uncertainties that may cause actual results to differ materially from
the potential results discussed in the forward-looking statements. Risks
and uncertainties that may cause such differences include but are not
limited to: the risk that the pending merger with GGC Software Holdings,
Inc., an affiliate of Golden Gate Capital and Infor, may not be
completed on a timely basis, if at all; the risk that the conditions to
the consummation of the merger may not be satisfied; the risk that the
merger may involve unexpected costs, liabilities or delays; the risk
that expected benefits of the merger may not materialize as expected;
the risk that, prior to the completion of the merger, Lawson's business
may experience significant disruptions, including loss of customers or
employees, due to transaction-related uncertainty or other factors; the
fact that legal proceedings that have been instituted and the
possibility that additional legal proceedings may be instituted against
Lawson, its directors and/or others relating to the merger and the
outcome of such proceedings; the possible occurrence of an event, change
or other circumstance that could result in termination of the merger
agreement; uncertainties in the software industry; uncertainties as to
when and whether the conditions for the recognition of deferred revenue
will be satisfied; increased competition; the impact of foreign currency
exchange rate fluctuations; changes in conditions in Lawson's targeted
industries; the outcome of pending litigation; the relief sought by
Lawson with respect to the judgment in the ePlus litigation might not be
granted in whole or in part; and other risk factors listed in Lawson's
most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q filed with the Securities and Exchange Commission. Lawson
assumes no obligation to update any forward-looking information
contained in this press release.
