27 August 2003
Sage offer for Softline: purchase agreement signed
Further to its offer announcement of 1 August 2003, The Sage Group plc ('Sage')
announces that it has entered into an agreement with Softline Limited
('Softline') to acquire its business and assets, for an equity value of £66.0m
(enterprise value £54.9m).
The acquisition is now conditional upon approval by Softline shareholders at a
meeting on 23 September 2003. It is also conditional upon regulatory
clearances.
Simultaneous with this announcement, Softline has issued an announcement
outlining details of the terms of the agreement. Further information on the
progress of the offer will be announced as appropriate.
Financial information calculated on the basis of £1 = ZAR 11.9
Enquiries:
The Sage Group 0191 255 Financial 020 7831
plc 3000 Dynamics 3113
Paul Walker, Chief Giles Sanderson
Executive
Paul Harrison, Finance Harriet Keen
Director
Phil Branston, Investor Caroline Ledosquet
Relations
Notes to editors:
The Sage Group plc is a leading international supplier of accounting and
business management software solutions and related products and services for
small to medium-sized enterprises. Formed in 1981, Sage was floated on the
London Stock Exchange in 1989 and the Group now employs over 5,500 people
worldwide.
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