Portfolio News| January 2011
Trintech Is Taken Private by Spectrum Equity
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.
Content contained in this blog post is not intended to and does not constitute investment advice. Your use of the information in this blog post and materials linked is at your own risk. Spectrum Equity does not make any guarantee or other promise as to any results that may be obtained from using this content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. Past performance is not indicative of future results, and there is a possibility of loss in connection with an investment in any Spectrum Fund. To the maximum extent permitted by law, Spectrum Equity disclaims any and all liability in the event any information, commentary, analysis, and/or opinions prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. The specific companies identified above does not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable.