Lawson Software Announces Rule 144 Stock Sales and Related Share Repurchases ST. PAUL, Minn.--(BUSINESS WIRE)-Aug. 1, 2007--Regulatory News: Lawson Software (Nasdaq:LWSN) today announced the sale of a total of seven million shares of Lawson Software stock by Richard Lawson and Symphony Technology Group and its affiliates (STG) on July 31, 2007, representing minority positions in their respective Lawson Software holdings. Richard Lawson is Lawson Software's co-chairman. Dr. Romesh Wadhwani, Lawson Software's other co-chairman, is the founder and managing partner of Symphony Technology Group. Of these shares sold, a combined three million shares were sold in separate SEC Rule 144 transactions to Lehman Brothers at $9.20 per share, which represents a 3.5 percent discount to the closing price of $9.53 per share on July 31, 2007. Lawson Software purchased the remaining four million shares at the same discounted price as part of the company's share repurchase program. Richard Lawson sold 857,143 shares in the SEC Rule 144 transaction and sold 1,142,857 shares to Lawson Software as part of its share repurchase program. The total two million shares represent 17.1 percent of Richard Lawson's overall holdings in the company. Symphony Technology Group sold 2,142,857 shares under a separate Rule 144 transaction and also sold 2,857,143 shares to Lawson Software as part of its share repurchase program. The total five million shares sold represent 21.7 percent of STG's overall holdings in the company. The shares repurchased by Lawson Software from Richard Lawson and STG were approved by all of the directors of Lawson Software who had no personal financial interest in the transactions. These repurchases were part of Lawson Software's $200 million board-authorized stock buyback program previously announced by the company. Separately, from July 26 through July 30, 2007, Lawson Software purchased 1,500,443 shares through open market purchases at an average purchase price of $9.40 per share. Including the combination of prior purchases made since inception of the authorized buyback program, the purchases made in the open market from July 26th to July 30th and the shares acquired on July 31 from Richard Lawson and STG, Lawson Software has acquired an aggregate of 11,875,129 shares of its stock since inception of the company's current share repurchase program on November 10, 2006 at an average price of $8.92 per share. This represents a buyback to date of approximately 6.3 percent of the company's outstanding shares since the inception of the repurchase plan, which has returned more than $105 million to Lawson Software stockholders. The transactions announced today will have a neutral to minimally accretive impact to the company's previous EPS guidance."I am at a point in my life at which I need to continue a slow diversification of my investment portfolio as part of my long-term retirement planning," Richard Lawson commented regarding the stock transactions announced today. "Although I retired from my day-to-day management role with Lawson Software in 2006, I remain the co-chairman of the company that I helped found in 1975 - and I remain committed financially and personally to the company and its future success.""Symphony Technology Group continues to have a long-term strategic commitment to Lawson Software," said Wadhwani. "STG's sales on July 31, 2007 represent roughly 20 percent of its holdings in Lawson Software. As a result, those sales provide STG with some additional liquidity without significantly reducing its strategic ownership position in Lawson. I, like Richard Lawson, plan to continue as co-chairman of the company to reflect STG's ongoing commitment to Lawson's future as a leading provider of enterprise software solutions." About Lawson Software Lawson Software provides software and service solutions to approximately 4,000 customers in manufacturing, distribution, maintenance and service sector industries across 40 countries. Lawson's solutions include Enterprise Performance Management, Supply Chain Management, Enterprise Resource Planning, Customer Relationship Management, Manufacturing Resource Planning, Enterprise Asset Management and industry-tailored applications. Lawson solutions assist customers in simplifying their businesses or organizations by helping them streamline processes, 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. 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 Software 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. The company is not obligated to update forward-looking statements based on circumstances or events that occur in the future. Risks and uncertainties that may cause such differences include but are not limited to: uncertainties in Lawson's ability to realize synergies and revenue opportunities anticipated from the Intentia International acquisition; uncertainties in the software industry; uncertainties as to when and whether the conditions for the recognition of deferred revenue will be satisfied; global military conflicts; terrorist attacks; pandemics, and any future events in response to these developments; changes in conditions in the company's targeted industries; increased competition and other risk factors listed in the company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. Lawson assumes no obligation to update any forward-looking information contained in this press release. CONTACT: Lawson Software Media: Joe Thornton, +1-651-767-6154 joe.thornton@us.lawson.com Investors and Analysts: Barbara Doyle, +1-651-767-4385 barbara.doyle@us.lawson.com
Lawson Software Announces Rule 144 Stock Sales and Related Share Repurchases
| Quelle: Lawson Software, Inc.