Cisco Disclosure of TANDBERG Share Acceptances
SAN JOSE, Calif., NEW YORK, and OSLO, Norway, November 10, 2009 - With reference to the announcements made on October 1 and October 12, 2009, regarding the voluntary public cash offer to acquire all outstanding shares in TANDBERG, Cisco® (NASDAQ: CSCO) has received acceptances representing 7,919,338 shares in TANDBERG (OSLO: TAA.OL). Following receipt of these acceptances, Cisco holds rights to acquire 10,493,298 shares in TANDBERG, representing 9.37% of the shares and voting rights in TANDBERG.
Save as set out above, Cisco and its related parties do not hold any shares or rights to acquire shares in TANDBERG. This information is made subject to the disclosure requirements acc. to §4-2 (2) of the Norwegian Securities Trading Act (Verdipapirhandelloven).
Soon after expiration of the extended offer period on Wednesday, November 18, 2009, at 5:30 pm CET, Cisco will announce whether the 90 percent condition for the offer has been met. If not, Cisco will evaluate whether or not to withdraw the offer.
Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
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Cisco, the Cisco logo and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.
This document is Cisco Public Information.
TANDBERG is a registered trademark or trademark in the U.S. and certain other countries. All other trademarks are property of their respective owners.
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco from completing the acquisition, the impact of the combined company on relevant markets and plans regarding TANDBERG personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, obtaining a sufficient number of tendered shares of common stock and regulatory approval of the acquisition, the potential impact on the business of TANDBERG due to the uncertainty about the acquisition, the retention of employees of TANDBERG and the ability of Cisco to successfully integrate TANDBERG and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent report on Form 10-K. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.
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