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23 Feb 2009 08:00
23 February 2009
Logica announces commencement of payment related to the WM-data redemption process
Logica plc today announces commencement of payment of the redemption price under the WM-data redemption process.
On 21 August 2006, Logica announced a public offer to acquire the entire share capital of WM-data, equivalent to SEK 27.75 per WM-data Share. At the time of the completion of the transaction, Logica had acquired 95.33% of the company's issued share capital.
The Arbitral Tribunal has 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) amounts to £48.4 million (SEK 602 million).
The total consideration of £48.4 million will be paid to minority shareholders in a series of payments expected to complete no later than 10 March 2009.
For further information, please contact:
Logica Investor relations: Karen Keyes/Frances Gibbons +44 (0) 20 7446 4341 (mobile: +44 (0) 7801 723682)
Logica Media relations: Anna Brog +44 (0)7595 612 269, Suma Boby +44 (0)7595 612 180
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