Lason Completes M-R Group Merger.TROY, Mich.--(BUSINESS WIRE)--June 28, 1999-- Lason, Inc. (Nasdaq NM:LSON LSON Low Speed on ) today announced that its merger with M-R Group plc was approved in London by the High Court of England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. . M-R Group plc, a leading United Kingdom-based document and data management company, has approximately US$90 million in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues. The merger, to be accounted for as a pooling-of-interests for United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. accounting purposes, resulted in the exchange of approximately 3.1 million newly issued Lason common shares valued at approximately US$133.1 million ((pound)82.3 million) as of May 12, 1999 (date of the revised merger agreement). Under terms of the merger agreement, M-R Group shareholders received 5.376 new shares of Lason common stock for every 100 M-R Group shares held. Dealings in the Lason common shares issued in connection with the merger are expected to begin on June 30, 1999. "This merger creates significant growth opportunities for Lason in Europe," stated Gary L. Monroe, chairman and chief executive officer of Lason. "We completed the merger with M-R Group following the favorable vote of its shareholders on June 7, 1999, and the approval of the High Court of England and Wales today. Lason will announce additional information in July regarding the integration plans and the resulting combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
Lason is a leading provider of integrated information management services for image and data capture, data management and output processing. Since its founding in 1985, Lason has grown to employ over 9,500 people with operations in 29 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and , Canada, Mexico, India and the Caribbean, and serve over 4,000 customers. The Company currently has over 75 multi-functional imaging centers and operates over 100 facility management sites located on customers' premises. M-R Group is a leading United Kingdom document and data management company, employing over 1,000 people. M-R provides a variety of data and document management services including scanning and conversion, electronic storage and retrieval, micrographic mi·cro·graph n. 1. A drawing or photographic reproduction of an object as viewed through a microscope. 2. An instrument used to make tiny writing or engraving. and data management services. Its services are focused on the financial, telecommunications and utilities markets, in addition to government agencies. With its principal locations in the United Kingdom, M-R also offers its services to clients in the United States and has operations in Mauritius. The statements in this press release which are not historical fact are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties including, but not limited to, developments by competitors, assimilation of acquisitions, entry of new competitors, changes in the business services outsourcing industry, and other risks detailed in the Company's prospectus dated August 19, 1998, and other filings with the Securities and Exchange Commission. |
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