DataMirror Increases its Offer for Idion Technology Holdings Limited.Business Editors TORONTO--(BUSINESS WIRE)--April 18, 2002 DataMirror Corporation (Nasdaq: DMCX)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : DMC DMC Devil May Cry (video game) DMC Detroit Medical Center DMC Darryl McDaniels (rapper) DMC Destination Management Company DMC Del Mar College (Corpus Christi, TX) ) today announced an increase in its offer to acquire all of the outstanding ordinary ("common") shares of Idion Technology Holdings Limited (JSE JSE See: Johannesburg Stock Exchange : IDI IDI ICC (International Cricket Conference) Development International Conference) IDI Israel Democracy Institute IDI I Doubt It IDI Initial Domain Identifier IDI In-Depth Interview ), an independent developer of high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. and resiliency software for IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) iSeries, other than those shares already held by DataMirror. DataMirror's original offer of ZAR ZAR In currencies, this is the abbreviation for the South African Rand. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 65c (Cdn. $0.09) per common share announced on March 18, 2002 valued Idion at approximately Cdn. $9.8 million on a fully diluted basis. DataMirror is now offering a price of ZAR 1.20 (Cdn. $0.17) per common share, which values Idion at approximately Cdn. $19.1 million on a fully diluted basis. DataMirror and a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. currently own an aggregate of approximately 16.58% of the outstanding common shares of Idion. The cost of acquiring the remaining common shares would be approximately Cdn. $15.9 million. The original offer was conditional on DataMirror receiving acceptances that would result in it acquiring at least 90% of the common shares of Idion not held by DataMirror. The revised offer will be conditional on DataMirror receiving sufficient acceptances for it to acquire 50% plus one of all common shares of Idion on a fully diluted basis and is subject to certain other conditions, including receipt of all necessary regulatory approvals. The revised offer, made by way of a takeover bid Noun 1. takeover bid - an offer to buy shares in order to take over the company two-tier bid - a takeover bid where the acquirer offers to pay more for the shares needed to gain control than for the remaining shares to all holders of common shares of Idion, represents a premium of approximately 38% to the trade weighted average price of Idion common shares on The JSE Securities Exchange, South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , during the period from March 18, 2002 to April 17, 2002. DataMirror has sufficient cash on hand to fully fund the offer. DataMirror will mail the revised offer to Idion shareholders on April 19, 2002. About Idion More information about Idion Technology Holdings Limited is available at www.idion.com. About DataMirror DataMirror (Nasdaq: DMCX; TSE: DMC) delivers solutions that let customers integrate data across their enterprises. DataMirror's comprehensive family of products unlocks the experience of now(TM) by providing advanced real-time capture, transform and flow (CTF CTF Capture The Flag CTF Child Trust Fund (UK) CTF Canadian Tax Foundation CTF Canadian Taxpayers Federation (lobby group) CTF Canadian Television Fund CTF Canadian Teachers' Federation ) technology that gives customers the instant data access, integration and availability they demand today across all computers in their business. Over 1,500 companies use DataMirror to integrate their data. Real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. drives all business. DataMirror is headquartered in Toronto, Canada, and has offices worldwide. DataMirror has been ranked in the Deloitte and Touche Fast 500 as one of the fastest growing technology companies in North America. For more information, call 1-800-362-5955 or visit the DataMirror web site at www.datamirror.com. Media and Financial Contacts: Peter Cauley Tracy Staniland Chief Financial Officer Director of Marketing DataMirror Corporation DataMirror Corporation E-mail: pcauley@datamirror.com E-mail:tstaniland@datamirror.com Phone: 905-415-0310 ext. 271 Phone: 905-415-0310 ext. 274 Fax: 905-415-0340 Fax: 905-415-5196 Karen Quatromoni PR Contact Rainier Corporation E-mail: karenq@rainierco.com Phone: 978-464-5302 ext. 150 Fax: 978-464-2968 Forward-looking statements in this press release, including statements regarding DataMirror Corporation's business which are not historical facts, are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include statements of estimates, expectations, objectives and plans (financial and otherwise). The words "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Numerous factors affect DataMirror's operating results and could cause DataMirror's actual results to differ materially from the results indicated by this press release or by any forward-looking statements made by, or on behalf of, DataMirror, and there can be no assurance that future results will meet expectations, estimates or projections. These factors include, but are not limited to, the following: risks involved in the completion and integration of the acquisition, expected cost savings from the acquisition may not be fully realized or realized within the expected timeframe, revenue of the combined company may be lower than expected, the possibility of technical, logistical or planning issues in connection with deployments, costs or difficulties related to obtaining regulatory approvals for completing the acquisition, costs or difficulties related to integration of the companies following the acquisition may be greater than expected, legislative or regulatory changes may adversely affect the businesses in which the companies are engaged, variability of quarterly operating results; dependence upon the continued growth and success of DataMirror's software products; competition; the ability to develop, market, support and acquire new products in an environment of rapidly changing technology; dependence upon continued growth in the database and enterprise data integration markets; dependence upon relationships with complementary vendors and distribution channels; the ability to recruit and retain key personnel; risks of international operations, currency exchange rate fluctuations and global economic conditions; possible software errors or defects; possible infringement claims by third parties; and other factors discussed in the Company's Annual Information Form and other periodic filings with the United States Securities and Exchange Commission and other regulatory authorities. Copyright 2002 DataMirror Corporation. All rights reserved. DataMirror, High Availability Suite and The experience of now are trademarks or registered trademarks of DataMirror Corporation. All other brand or product names are trademarks or registered trademarks of their respective companies. DataMirror 3100 Steeles Avenue East Suite 1100 Markham, Ontario L3R 8T3 TEL TEL Telephone TEL Telegram TEL Telugu (langauge) TEL Terrorist Exclusion List TEL Technology-Enhanced Learning TEL Transporter-Erector-Launcher TEL Tetra-Ethyl Lead TEL Team Deutsche Telekom : (905) 415-0310 FAX: (905) 415-0340 Web Site: www.datamirror.com |
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