SOURCE: Lectra

June 08, 2007 12:38 ET

LECTRA : Lectra Successfully Concludes the Public Stock Buyback Tender Offer for 20% of the Company's Capital Stock

PARIS--(Marketwire - June 8, 2007) - The Board of Directors of Lectra, chaired by André Harari, announced today the successful conclusion of the Public Stock Buyback Tender Offer (the "Tender Offer") that took place between May 3 and 22, 2007.

The plan initiated by the Board of Directors was approved by a substantial majority of shareholders (96% of votes) at the Extraordinary General Meeting of Shareholders on April 30. André and Daniel Harari, who together held 32% of the capital stock, abstained from voting on the corresponding resolution, as they had pledged to do.

The Tender Offer concerned 7,064,792 shares representing 20% of the capital stock, at a price of EUR 6.75 per share ex-2006 dividend. Given that 11,552,349 shares were presented in response to the Tender Offer, the demand of each shareholder was reduced in proportion to the number of shares for which ownership was proved.

The Tender Offer was financed by a EUR 48 million medium-term bank loan provided by Lectra's two historical banks, Société Générale and Natixis, thereby enabling Lectra to introduce a financial leverage into the structure of its balance sheet.

Considering the simultaneous exercise of stock options and cancellation of treasury shares already held by the company, the capital stock will be reduced, on June 12, to EUR 42,239,374.50, composed of 28,159,583 shares with a par value of EUR 1.50 each.

Fulfilling their commitment, André and Daniel Harari did not contribute their shares to the Tender Offer. As a result, their joint shareholding will rise above one-third, to represent 39.9% of the capital stock and voting rights. The French financial markets authority, AMF, granted them a waiver on March 23, exempting them from the mandatory filing requirement for public tender offers.

About Lectra:

With 1,500 worldwide employees, Lectra is the world leader in integrated technology solutions (software, automated cutting systems and associated services) dedicated to large-scale users of textiles and leather. Lectra addresses a broad array of major global markets, including fashion (apparel, accessories, footwear), automotive (car seats and interiors, airbags), furniture, aeronautical and marine.

Lectra (code ISIN FR0000065484) is listed on the Eurolist (compartment B) of Euronext Paris.

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