Global Technology's Partner, Temenos, Debuts On Sw
Global Technology Limited's international partner, TEMENOS, in whom Global
Technology owns a strategic 15% stake, listed today on the Swiss Stock
Exchange (SWX). TEMENOS is a leading provider of integrated banking software
systems for financial institutions.
The offer of 12,718,744 shares was successfully completed at a price per
share of CHF23 (CHF = Swiss Francs). Following the offer, 51,710,956 shares
(excluding options) will be in issue and TEMENOS' market capitalisation at
the above price will be approximately CHF1.189 billion (approximately US$674
million). Global Technology's 15% stake in the listed TEMENOS translates
into R810 million or R2.05 per share at the above price.
Ray Leonard, CEO of Global Technology and non-executive director of TEMENOS,
comments, "Global Technology has enjoyed a strengthening partnership with
TEMENOS for 6 years. We are excited about their success and proud of their
achievements to date. We congratulate them on their listing today."
George Koukis, chairman and CEO of TEMENOS and non-executive director of
Global Technology, says, "The international offer of registered shares was
successfully completed, and the results clearly indicated that the market
views TEMENOS as a solid investment. The listing of the company is an
important step in TEMENOS' development plans. We look forward to enhancing
shareholder value and taking TEMENOS to the next exciting phase."
The TEMENOS share price can be tracked at www.swx.com.
Global Technology is the leading supplier of software solutions to the
banking, insurance and financial communities in Africa and Australia.
ends
Written and distributed by :Arcay Financial Communications
On behalf of :Global Technology Limited
Further information :Belinda Leftwich
Tel :27 11 480 8554
Fax :27 11 480 8556
Cell :083 303 9771
e-mail :leftb@arcay.co.za
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
