Crescendo Investments II, LLC

September 08, 2005 23:04 ET

Geac Computer Corporation Limited and Crescendo Investments II, LLC End Proxy Contest

NEW YORK, NEW YORK--(CCNMatthews - Sept. 8, 2005) - Crescendo Investments II, LLC on behalf of Crescendo Partners II, L.P., Series F ("Crescendo Partners") announced today that it has agreed to withdraw its proposed director nominees, Mr. Eric Rosenfeld and Mr. Dennis Conroy, from consideration at the annual general meeting of shareholders of Geac scheduled to be held on September 13, 2005, and will vote at the annual meeting for the election of each of the current Board members.

This withdrawal follows an agreement by Geac that its Board of Directors and the Board's Corporate Governance and Nominating Committee will give full and proper consideration to the appointment of Mr. Eric Rosenfeld to its board of directors. The Geac Board has agreed that its process of considering Mr. Rosenfeld's candidacy will take place in a timely manner, and in any case by November 30, 2005.

Eric Rosenfeld, President of Crescendo Partners said, "Over the last few weeks, it has become clear to us that Geac and we agree on many more things than we disagree on. Geac has disclosed publicly that it has been working with Bear Stearns & Co. over the last several months to explore a wide range of strategic alternatives to enhance shareholder value, and has stated publicly that it will not overpay for acquisitions. We are pleased by these statements".

Geac shareholders who have previously submitted a Crescendo proxy on GOLD paper may wish to revoke such proxy and sign, date and deliver a management proxy on WHITE paper no later than 10:00 a.m. on September 9, 2005. Only the later dated proxy form counts.

Contact Information

  • Crescendo Partners
    Eric Rosenfeld
    (212) 319-7676