AremiSoft to Increase Shareholding in LK Globalsoft.com
2/5/2001 0:00
The company LK Globalsoft.com relayed an announcement by AremiSoft Corporation which was issued to the NASDAQ on the 30 April 2001, outlining its intention to increase its participation in the share capital of LK Globalsoft.com Ltd.
AremisSoft Corporation announced it has entered into an agreement with certain institutional investors for an option to increase its ownership in LK Globalsoft.com Ltd. from 7.1% to 25.0% by acquiring their shares. By exercising this option, AremisSoft will also acquire, under key conditions, voting control over an additional 34.5% of LK Globalsoft.com common shares from these same investors for the next 5 years, resulting in a cumulative 59.5% voting control. AremiSoft has further entered into an agreement, which will enable the Company to increase its ownership of LK Globalsoft.com to 59.5% by purchasing shares from these same investors in a structured phased approach through September 2002. This transaction enables Aremissoft to exercise control over the business affairs of LK Globalsoft.com
AremisSoft Corporation announced it has entered into an agreement with certain institutional investors for an option to increase its ownership in LK Globalsoft.com Ltd. from 7.1% to 25.0% by acquiring their shares. By exercising this option, AremisSoft will also acquire, under key conditions, voting control over an additional 34.5% of LK Globalsoft.com common shares from these same investors for the next 5 years, resulting in a cumulative 59.5% voting control. AremiSoft has further entered into an agreement, which will enable the Company to increase its ownership of LK Globalsoft.com to 59.5% by purchasing shares from these same investors in a structured phased approach through September 2002. This transaction enables Aremissoft to exercise control over the business affairs of LK Globalsoft.com
