0
Internet

Topcall is surprised by hostile takeover bid of Brain Force Software

Tuesday 8 June 2004 | 10:18 CET | News
The Management of TOPCALL International is astonished about the takeover announcement of Brain Force Software AG and the approach taken. At the day the takeover intention of Brain Force became public, the reported takeover offer in the amount of € 3.50 per share was lower than the daily stock exchange price of the TOPCALL share. Given the attractivity of the company and the solid economic key figures of TOPCALL, the Management is open to potential partnerships. Brain Force did not contact the Management of TOPCALL to make a proposal for cooperation before publishing its intention to submit a takeover offer. At the day its takeover intention became public, the offer price announced by Brain Force was lower than the daily stock exchange rate of the TOPCALL share. Therefore, at the time being, neither a squeeze-out of the small shareholders of TOPCALL nor a delisting of the company from the Vienna Stock Exchange is to be assumed. Under the statutory regulations for takeover procedures, the shareholders of TOPCALL are free to decline an offer by Brain Force. Up to date, Brain Force has not notified any takeover offer to the Management of TOPCALL. Doubts regarding the seriousness of Brain Force’s intention to submit an offer as expressed vis-à-vis the Management of TOPCALL International AG by a couple of shareholders, might have originated in the result of the capital increase of Brain Force. Not even half of the orginally planned amount of the capital increase of Brain Force was placed on the market. Therefore, the Management of TOPCALL will comment on a takeover offer of Brain Force after its publication. Continuity and solid results of TOPCALL In recent years, TOPCALL has pursued a very cautios expansion strategy and has been supported by the know-how of its employees most of whom have been part of the TOPCALL team for many years. This strategy has guaranteed security and continuity for investors, even in difficult market conditions. In the last two fiscal years, TOPCALL distributed a dividend in the amount of 6 €-cents per share. This was an exceptional achievement in today’s IT-industry. Whether this strategy could be maintained after a non-accorded takeover by Brain Force is uncertain.

Categories: Internet
Countries: Austria
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.






18,000+ KM
Eurofiber owns more than 18,000 km of optical fibre cable
Netherlands  |  2014 Q2

Calendar   /   Industry Events

31 Oct TDC Q3 2014
31 Oct Sony fiscal Q2
31 Oct KDDI fiscal Q2
31 Oct NTT Docomo fiscal Q2
31 Oct HTC Q3 2014
31 Oct Ntelos Q3 2014
03 Nov Redline Communications Q3 2014
03 Nov Crexendo Q3 2014
03 Nov AIS Q3 2014
03 Nov Sprint Q3 2014
03 Nov TelecityGroup Q2 FY2014/15
03 Nov Earthlink Q3 2014
03 Nov Ruckus Wireless Q3 2014
03 Nov DSP Group Q3 2014
03 Nov MVNO Networking Congress
03 Nov RAN World
04 Nov Frontier Communications Q3 2014
04 Nov Com Hem Q3 2014
04 Nov Softbank fiscal Q2
04 Nov Motorola Solutions Q3 2014
04 Nov DISH Network Q3 2014
04 Nov IP Packet Optical Convergence
04 Nov TV Connect MENA
04 Nov CEM World Congress
05 Nov Sierra Wireless Q3 2014
05 Nov Level 3 Q3 2014
05 Nov Fairpoint Communications Q3 2014
05 Nov Liberty Global Q3 2014
05 Nov AVG Technologies Q3 2014
05 Nov Ixia Q3 2014
::: More Calendar Items