Oct, 2001 : Genuity Completes Acquisition of Integra
📅 - Genuity Inc. (genuity.com) and Integra S.A., a European provider of managed hosting and e-business solutions, announced that the settlement and delivery procedures for the reopened period of the public exchange offer initiated by Genuity for Integra securities have been completed.
This first-ever-reopened tender offer in France resulted in an additional 11percent of Integra shares exchanged for Genuity Class A common stock. Thesenew shares of Genuity Class A common stock began trading last week on theNouveau Marche, completing the offering process, which began in June 2001.
Following the completion of the initial and reopened offering period andcertain private placement transactions, Genuity has acquired approximately41.4 million of Integra's 45.0 million shares representing approximately 92percent of Integra shares outstanding. In exchange for these Integra sharesas well as "out of the money" stock options and stock warrants (i.e., thoseoptions and warrants with an exercise price in excess of 2.78 Euro), Genuityissued approximately 31,340,000 shares of Genuity Class A common stock.
Genuity obtained from the Commission des Operations de Bourse with noticesvisa number 01-1097 dated Sept. 5, 2001 for the listing prospectus coveringGenuity's shares of Class A common stock listed on the Nouveau Marche.Additionally, Genuity and Integra announced that a new Integra board ofdirectors has been appointed consisting of members of Genuity'sinternational management team.
Gabe Yackanich, president of Genuity International, has been electedchairman and CEO of Integra S.A. Genuity and Integra also announced thatAndy McLeod, has resigned from Integra, and that Charles Zaiontz has beenappointed as president of Genuity Europe. In this capacity, Zaiontz willlead all European activities of Genuity and Integra.
This first-ever-reopened tender offer in France resulted in an additional 11percent of Integra shares exchanged for Genuity Class A common stock. Thesenew shares of Genuity Class A common stock began trading last week on theNouveau Marche, completing the offering process, which began in June 2001.
Following the completion of the initial and reopened offering period andcertain private placement transactions, Genuity has acquired approximately41.4 million of Integra's 45.0 million shares representing approximately 92percent of Integra shares outstanding. In exchange for these Integra sharesas well as "out of the money" stock options and stock warrants (i.e., thoseoptions and warrants with an exercise price in excess of 2.78 Euro), Genuityissued approximately 31,340,000 shares of Genuity Class A common stock.
Genuity obtained from the Commission des Operations de Bourse with noticesvisa number 01-1097 dated Sept. 5, 2001 for the listing prospectus coveringGenuity's shares of Class A common stock listed on the Nouveau Marche.Additionally, Genuity and Integra announced that a new Integra board ofdirectors has been appointed consisting of members of Genuity'sinternational management team.
Gabe Yackanich, president of Genuity International, has been electedchairman and CEO of Integra S.A. Genuity and Integra also announced thatAndy McLeod, has resigned from Integra, and that Charles Zaiontz has beenappointed as president of Genuity Europe. In this capacity, Zaiontz willlead all European activities of Genuity and Integra.
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