Global IP Solutions: Final Results of Rights Offering
San Francisco — March 10, 2010 — Global IP Solutions (GIPS) Holding AB (PUBL) announced today that the board of directors has resolved the final results in the company’s rights offering. Reference is made to the preliminary results of the rights offering announced March 4, 2010.
The subscription period and trading of subscription rights in the rights offering ended on March 3, 2010. The final results of the rights offering shows that in total 12,114,161 shares were subscribed during the subscription period, which means that the offering, of 9,833,333 at a subscription price of NOK 4.80 per new share, was over-subscribed by approximately 23 per cent.
Allocation letters will be distributed today March 10, 2010, providing notification of allocated new shares and the corresponding subscription amounts to be paid by each subscriber. The new shares are expected to be delivered to the subscribers' VPC or VPS accounts on or about March 26, 2010. All the shares will also be listed on Oslo Børs on or about March 26, 2010.
ABG Sundal Collier Norge ASA is acting as manager for the rights offering.
The subscription period and trading of subscription rights in the rights offering ended on March 3, 2010. The final results of the rights offering shows that in total 12,114,161 shares were subscribed during the subscription period, which means that the offering, of 9,833,333 at a subscription price of NOK 4.80 per new share, was over-subscribed by approximately 23 per cent.
Allocation letters will be distributed today March 10, 2010, providing notification of allocated new shares and the corresponding subscription amounts to be paid by each subscriber. The new shares are expected to be delivered to the subscribers' VPC or VPS accounts on or about March 26, 2010. All the shares will also be listed on Oslo Børs on or about March 26, 2010.
ABG Sundal Collier Norge ASA is acting as manager for the rights offering.
Important notice
Not for release, publication or distribution in Australia, Canada, Japan, the United Kingdom or the United States or elsewhere where such dissemination or distribution is not appropriate or lawful. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company (the "Securities") in Australia, Canada, Japan, the United Kingdom, the United States or in any other jurisdiction. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer of the Securities has not registered, and does not intend to register, any of the Securities or the new shares to be issued in the Rights Offering in the United States, and does not intend to conduct a public offering of the Securities in the United States.
About Global IP Solutions
Global IP Solutions (Oslo Børs: GIPS) provides best-in-class voice and video processing in IP communications. GIPS enables its customers to deliver unmatched quality, with a faster time-to-market and with less risk than alternative solutions. GIPS serves application developers, wired and wireless service providers and network and telecommunications equipment vendors. Its customer list includes ANET, AOL, Cisco, Citrix, CommuniGate, fg microtec, KT Networks, Nimbuzz, Nortel, Oracle, PCCW, Samsung, Yahoo! and other key players in the voice and video over IP markets. The company is headquartered in San Francisco with offices in Stockholm, Boston and Hong Kong. For more information, visit www.gipscorp.com
Not for release, publication or distribution in Australia, Canada, Japan, the United Kingdom or the United States or elsewhere where such dissemination or distribution is not appropriate or lawful. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company (the "Securities") in Australia, Canada, Japan, the United Kingdom, the United States or in any other jurisdiction. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer of the Securities has not registered, and does not intend to register, any of the Securities or the new shares to be issued in the Rights Offering in the United States, and does not intend to conduct a public offering of the Securities in the United States.
About Global IP Solutions
Global IP Solutions (Oslo Børs: GIPS) provides best-in-class voice and video processing in IP communications. GIPS enables its customers to deliver unmatched quality, with a faster time-to-market and with less risk than alternative solutions. GIPS serves application developers, wired and wireless service providers and network and telecommunications equipment vendors. Its customer list includes ANET, AOL, Cisco, Citrix, CommuniGate, fg microtec, KT Networks, Nimbuzz, Nortel, Oracle, PCCW, Samsung, Yahoo! and other key players in the voice and video over IP markets. The company is headquartered in San Francisco with offices in Stockholm, Boston and Hong Kong. For more information, visit www.gipscorp.com
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