SOURCE: West Corporation

June 26, 2008 12:53 ET

Squeeze-Out for the Shares of Genesys SA by West International Holdings Limited Presented by Lehman Brothers

OMAHA, NE--(Marketwire - June 26, 2008) - This press release is made and distributed in compliance with Article 237-16 of the General Rules of the French Autorité des marchés financiers (the « AMF »).

Pursuant to West International Holdings Limited's cash offer for the securities of Genesys SA (the « Tender Offer »), which was made from March 25, 2008, until May 7, 2008, and from May 19, 2008 until June 6, 2008, at a price of EUR 2.50 per Genesys share and EUR 4.05 per bond redeemable in Genesys share (ORA), West International Holdings Limited, as of June 25, 2008, owns 70,442,020 Genesys shares, representing 96.60% of the share capital and voting rights of Genesys.

As of June 25, 2008, Genesys shares held by minority shareholders and which were not tendered into the Tender Offer constitute 3.40% of the share capital and voting rights of Genesys SA.

In a letter, dated June 25, 2008, Lehman Brothers International (Europe), acting on behalf of West International Holdings Limited, informed the AMF of West International Holdings Limited's decision to implement a mandatory buy-out or squeeze-out (retrait obligatoire) for the shares of Genesys not already owned by it, in accordance with the intention that West International Holdings Limited formulated during the Tender Offer, at a price of EUR 2.50 per Genesys share, in compliance with Article L.433-4 III of the French Monetary Code and Article 237-14 et seq. of the General Rules of the AMF.

The squeeze-out will be made for all Genesys shares not owned by West International Holdings Limited, i.e., 2,478,999 shares, as of June 25, 2008, representing 3.40% of the share capital and voting rights of Genesys SA. The price of EUR 2.50 per Genesys share for the squeeze-out corresponds to the same price per share paid for the Tender Offer.

According to the AMF's notice no. n°208C1215, dated as of June 26, 2008, the squeeze-out will be implemented on July 1, 2008, the date on which Genesys shares will be delisted from the Eurolist market of Euronext Paris SA. The total amount required for payment for the shares will be deposited by West International Holdings Limited, net of fees, on such date, in a blocked account opened for such purpose by Caceis Corporate Trust, which will centralize the payment process. After the closing of individual bank accounts by Euroclear France, the account-holding institutions will credit the accounts of Genesys security holders with the payment owed to them. Any amounts for which the beneficiary is unknown will be retained by Caceis Corporate Trust for a period of ten years from the effective date of the squeeze-out. At the expiration of the ten-year period, any unclaimed amounts will be paid over to the French Caisse des Dépôts et Consignations and will be held on behalf of the beneficiaries for their disposal subject to the French state's statutory thirty year prescription period.

The Tender Offer prospectus, approved by the AMF on March 18, 2008, under reference number 08-050, is available on the AMF's website (www.amf-france.org). Copies of the prospectus may be obtained, free of charge, from:

West International Holdings Limited
Topeka House, The Luther Challis Business Centre,
Gloucester, GL4 3HX
England

Lehman Brothers International (Europe)
7, place d'Iéna
75773 Paris, cedex 16
France

The publication or distribution of this press release may be subject to statutory or regulatory restrictions in certain countries. The press release is not addressed to individuals subject to such restrictions, either directly or indirectly. Receipt of this press release does not constitute an offer in countries where a tender offer or an offer of securities would be illegal.

Contact Information

  • Contact:
    David Pleiss
    Investor Relations
    (402) 963-1500
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