Gemcom Announces Expected Closing Date Of Arrangement
Vancouver, Canada – July 22, 2008 – Gemcom Software International Inc. (TSX:GCM), the largest global supplier of specialised mining productivity solutions, today announced that the plan of arrangement (the "Arrangement") whereby an acquisition vehicle indirectly owned by affiliates of JMI Equity Fund VI, L.P., Carlyle Venture Partners III, L.P. and Pala Investments Holdings Limited (the "Purchaser"), will acquire all of Gemcom's outstanding common shares, is expected to close on July 23, 2008, and is subject to customary closing conditions.
The Arrangement was approved by Gemcom securityholders on July 16, 2008 and by the British Columbia Supreme Court on July 17, 2008.
When mining companies seek to increase mine productivity, they turn to Gemcom for technology and services. The Company is home to world-renowned mining solutions like GEMS, Surpac, Minex, Whittle, and InSite and to industry thought-leaders who are pushing the boundaries of what's possible in mining. Established in 1985, Gemcom has a global reach delivering comprehensive solutions in all major mining centres in more than 90 countries. Every major mining company, including BHP Billiton, Codelco, De Beers, Newmont and Vale is a Gemcom client. Through a combination of organic growth and strategic acquisitions, the Company has become the largest global supplier of specialised mining productivity solutions. Gemcom is listed on the TSX under the ticker "GCM." For more information, visit www.gemcomsoftware.com