Fi SYSTEM S.A's bid for Resco AB
Fi SYSTEM S.A's bid for Resco AB It was announced on September 11, 2000 that Fi System was making a public share offer for Resco for a total value of approximately MSEK 1.567. This represented a premium of approximately 41% calculated on the price of Resco shares September 8, 2000 and a premium of 55% calculated on the last ten trading days before the announcement of the bid. In connection with the announcement the board of directors of Resco recommended holders of shares, convertible debentures and warrants in Resco to accept the bid. Fi System´s share traded on the Nouveau Marché (Paris) on September 8, 2000 at a price of 56 Euro (SEK 468,5) per share. Since the announcement of the bid the price of Fi System shares has dropped by 60%. Some of the larger shareholders, who have not commited to accept the offer, together representing more than 10% of Resco shares, have indicated to the Board of Directors of Resco that they will not accept the bid. The Board of Directors of Resco has decided that it can no longer recommend the bid. The decision reflects, taking account of all circumstances, the significantly changed conditions on the market. Because of conflict of interest one of the members of the Board of Directors has not taken part in the Board decision. Resco wishes to continue the co-operation with Fi System in connection with large, complex assignments which satisfy the needs of the international customers in Europe. Resco AB (publ) The Board of Directors For further information please contact: Kjell Jacobsson, Chairman Resco AB +46 70890 30 50 Torstein Johansen, CEO Resco AB +46 706 65 65 10 Viktor Svensson, Investor Relation Manager Resco AB, +46 708 90 33 13 Resco AB RESCO is a consultancy firm based on the association of the strongest individuals in several industries - specialists whose individual competencies allow us to offer a greater whole than others - from the Internet and to the physical world. With our 550 specialists in the fields of market communication, business systems, design, Internet strategy, web technology and architecture, we are taking a unique position in the corporate renewal market. Our offer reaches from communication that cements relationships and into the technology that makes business exchange possible. We see it as our mandate to constantly challenge our customers and ourselves to see new opportunities in the economy of a new era. RESCO was founded in 1982. We are listed on the Stockholm Stock Exchange and have offices in Sweden, Finland and Germany. www.resco.se/.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/17/20001017BIT00070/bit0001.doc http://www.bit.se/bitonline/2000/10/17/20001017BIT00070/bit0002.pdf