Global Technologies - Temenos Group Ag Intended Ap
SWITZERLAND
GLOBAL TECHNOLOGY LIMITED
(INCORPORATED IN THE REPUBLIK OF SOUTH AFRICA)
(REGISTRATION NUMBER 1996/009809/06)
("GLOTEC")
Temenos Group AG (in incorporation) intended application for listing in
Switzerland.
Shareholders are advised that TEMENOS GROUP AG, Global Technology Limited's
(Glotec) international partner, in which Glotec holds a 20% stake, intends
to apply for a listing of its shares on the main segment of the Swiss Stock
Exchange (SWX), subject to SWX approval.
Headquartered in Geneva, Switzerland, and founded in 1993, TEMENOS GROUP AG
is a leading provider of intergrated banking software systems for financial
institutions. The company develops, markets, implements and supports
TEMENOS GLOBUS (tm), distributed by Glotec in the southern hemisphere. In
response to the globalosation of the banking industry, TEMENOS GROUP AG has
successfully established a local presence in 18 countries, allowing ease of
implementation and the ability to provide a high quality service and
effective local support.
RATIONALE
TEMENOS GROUP AG expects the planned offer and listing to enable it to
facilitate the expansion and growth of its existing business by permitting
it to further penetrate global banks and key markets, expand direct sales
and strategic alliances and increase customer support capabilities.
Deutsche Bank AG will act as global co-ordinator and bookrunner to the
offering; Bank Julius Baer & Co Ltd will act as co-manager. It is expected
that book building will commence following the publication of a preliminary
prospectus in June.
TEMENO'S FINANCIAL PERFORMANCE
TEMENOS GROUP AG had revenues in the financial year to 30 June 2000 of US$
69.4 million, compared to revenues in the financial year to 30 June 1998 of
US$ 20.9 million, representing a compound annual growth rate of 82%. In the
nine months to 31 March 2001, TEMENOS GROUP AG had revenues of US$ 86.0
million. Operating income in the financial year to 30 June 2000 was at US$
10.5 million, and for the nine months to 31 March 2001, was US$ 13.4
million.
A further announcement will be made to Glotec shareholders once further
information pertaining to TEMENOS' proposed listing is released.
By order of the Board
Arcay Client Support (Pty) Ltd
Company Secretary
Johannesburg
31 May 2001
Arcay Group Limited
Joint Corporate Advisor
Gensec Bank Limited
Sponsor and joint Corporate Advisor
Arcay Financial Communications (Pty) Ltd
Investor Relations
"This announcement is not being published in the United States of America
and should not be distributed to United States persons or publications with
a general circulation in the United States. This document does not
constitute an offer or invitation to subscribe for or purchase any
securities. In addition, the securities of TEMENOS GROUP AG have not been
registered under US securities laws and may not be offered, sold or
delivered within the United States or to US persons absent registration
under, or an applicable exemption from, the registration requirements of the
United States securities laws."
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