Dublin, Ireland and Dallas, Texas - Further to recent announcements, Trintech Group Plc (Nasdaq:TTPA) (the Company) confirms that its acquisition by Spectrum Equity Investors (acting through Cerasus II Limited) at a price of $6.60 per Trintech ADS (or $3.30 per Trintech Ordinary Share) is now effective following the filing on 31 December 2010 of the court order sanctioning the Scheme of Arrangement and the related reduction of capital with the Registrar of Companies in Dublin, Ireland.
The cancellation of the listing of Trintech ADSs on NASDAQ occurred with effect prior to the opening of trading on NASDAQ on 31 December 2010.
Trintech Ordinary Shareholders shall receive the Consideration payable to them within 14 days of 31 December 2010. Trintech ADS Holders are required to follow the instructions in the Scheme Circular with regard to the surrender of their Trintech ADSs. For further information, please contact Trintech's Depositary and information agent, the Bank of New York Mellon, at Depositary Receipts Division, 101 Barclay St., 22nd Floor, New York, NY 10286, United States (1.866.353.4787 if calling within the United States and +1.866.353.4787 if calling from outside the United States).
Forward Looking Statements
This document contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any "forward looking statements" in this document are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated.
About Trintech Group
Trintech Group Plc is a leading global provider of integrated financial governance, risk management, and compliance (GRC) software solutions for commercial, financial, and healthcare markets. Trintech's recognised expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, reporting, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.