MALMO, Sweden, May 19, 2005 (PRIMEZONE) -- The tender offer from Telelogic AB (listed on the O-list of the Stockholm Stock Exchange/TLOG), for Focal Point AB (listed on the NGM-list/FOCA) has been accepted to such an extent that Telelogic's total holding of shares in Focal post completion of the offer amounts to 91.8 percent of the votes and 83.5 percent of the capital in Focal Point. Telelogic declares the offer unconditional and extends the acceptance period until 30 May 2005, inclusive.
During the ordinary acceptance period, the offer has been accepted by shareholders representing 25,000 shares of series A and 1,977,491 shares of series B in Focal Point, corresponding to 19.0 percent of the votes and 34.1 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 4,253,191 shares of series B, corresponding to 91.8 percent of the votes and 83.5 percent of the capital in Focal Point.
Telelogic has decided to complete the offer and all the conditions for completion of the offer set out by Telelogic in the prospectus have thus either been met or waived.
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 extend the acceptance period until 30 May 2005, inclusive.
Settlement for those who have accepted Telelogic's offer during the ordinary acceptance period is expected to commence on or around 30 May 2005. Settlement for those who accept the offer during the extended acceptance period is expected to commence on or around 10 June 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
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