Crescendo Files Dissident Proxy Circular on SEDAR in Respect of Geac Computer Corporation's Annual Meeting to be Held on September 13, 2005.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Crescendo cres·cen·do n. pl. cres·cen·dos or cres·cen·di 1. Abbr. cr. Music a. A gradual increase, especially in the volume or intensity of sound in a passage. b. Investments II, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control - In respect of Geac Computer Corporation Limited's ("Geac") Annual General Meeting of common shareholders scheduled to be held on September 13, 2005, Crescendo Investments II, LLC ("Crescendo Investments"), a Delaware limited liability company, filed on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review a dissident proxy circular on behalf of Crescendo Partners II, L.P., Series F ("Crescendo Partners"). Crescendo Investments is the general partner of Crescendo Partners, a holder of approximately 5% of Geac's outstanding common shares. The managing member of Crescendo Investments II, LLC is Eric Rosenfeld Eric Rosenfeld was a trader and principal in the Long-Term Capital Management hedgefund that almost went bankrupt in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a devaluation of the Russian ruble. . Crescendo Investments intends to mail its dissident proxy circular to Geac's shareholders today. Crescendo Partners has engaged the services of Innisfree M&A Incorporated to assist in its proxy solicitation. The dissident proxy circular outlines the matters that Crescendo intends to bring before the meeting to be voted on by Geac shareholders, including the election of certain nominees of Crescendo Partners to Geac's board of directors. Eric Rosenfeld, President of Crescendo Partners said, "We are proposing nominees to the Geac board to provide all shareholders with improved board representation. We are concerned that given its large cash position and available credit line, Geac will overpay o·ver·pay v. o·ver·paid , o·ver·pay·ing, o·ver·pays v.tr. 1. To pay (a party) too much. 2. To pay an amount in excess of (a sum due). v.intr. To pay too much. for an acquisition that could destroy shareholder value. Our nominees will also advocate the hiring of an investment bank by Geac to explore strategic options". Mr. Rosenfeld added "We urge shareholders to wait until receiving our proxy material before deciding how to vote at the upcoming annual general meeting". The dissident proxy circular is available through the SEDAR website at www.sedar.com. Cautionary Note Regarding Forward Looking Statements: This press release contains forward-looking statements of Crescendo Investments' intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense future tense n. A verb tense expressing future time. Noun 1. future tense - a verb tense that expresses actions or states in the future future with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . All forward looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. Investors are cautioned not to place undue reliance on these forward-looking statements. Crescendo Investments undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances. |
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