Global BPO Services Corp. Announces Record Date and Annual Shareholder Meeting Date
June 26 2008 - 11:51AM
PR Newswire (US)
BOSTON, June 26 /PRNewswire-FirstCall/ -- Global BPO Services Corp.
(AMEX:OOO.U) ("Global BPO") announced today that it has set the
close of business on July 3, 2008 as the record date for
determining the stockholders entitled to receive notice of and vote
at its upcoming Annual Meeting. The Annual Meeting of the
Stockholders will be held on Tuesday July 29, 2008 at 8:00 a.m. at
the offices of Wilmer Cutler Pickering Hale and Dorr LLP, 60 State
Street, Boston, Massachusetts, 02109. At the meeting, stockholders
will vote on, among other things, the proposed acquisition of
Stream Holdings Corporation and the proposed equity investment by
Ares Corporate Opportunities Fund II, LP. About Global BPO Services
Corp. Global BPO has filed with the U.S. Securities and Exchange
Commission (SEC) a preliminary proxy statement, as amended, in
connection with the proposed acquisition of Stream and plans to
mail a definitive proxy statement and other relevant documents to
Global stockholders once the proxy statement is declared effective
by the United States Securities & Exchange Commission.
Stockholders of Global BPO and other interested persons are advised
to read, when available, Global BPO's preliminary proxy statement,
and amendments thereto, and definitive proxy statement in
connection with Global BPO's solicitation of proxies for the
special meeting to be held to approve the acquisition because these
proxy statements will contain important information about Global
BPO, Stream and the proposed acquisition. The definitive proxy
statement will be mailed to stockholders as of a record date to be
established for voting on the acquisition. Stockholders will also
be able to obtain a copy of the preliminary and definitive proxy
statements, without charge at the SEC's Internet site at
http://www.sec.gov/ or by directing a request to: Global BPO
Services Corp., 125 High Street, 30th Floor, High Street Tower,
Boston, MA 02110, telephone (617) 517-3248. Global BPO is a special
purpose acquisition corporation (a "SPAC") formed in June of 2007
for the purpose of acquiring a business process outsourcing
company. Global BPO consummated its initial public offering on
October 23, 2007. Subject to completion of its pending acquisition
of Stream, Global BPO as a SPAC has not yet commenced any material
business activities. Additional Information Global BPO and its
directors and its officers may be deemed participants in the
solicitation of proxies from Global BPO's stockholders. A list of
the names of those directors and the officers and descriptions of
their interests in Global BPO is contained in Global BPO's
prospectus dated October 18, 2007, which is filed with the SEC, and
will also be contained in Global BPO's proxy statement when it
becomes available. Global BPO's stockholders may obtain additional
information about the interests of its directors and officers in
the acquisition by reading Global BPO's proxy statement. Upon
commencement of the tender offer, Global BPO will file with the SEC
a tender offer statement on Schedule TO and related exhibits,
including the offer to purchase, letter of transmittal and other
related documents. Shareholders should read the offer to purchase
and the tender offer statement on Schedule TO and related exhibits
when such documents are filed and become available, as they will
contain important information about the tender offer. Shareholders
can obtain these documents when they are filed and become available
free of charge from the SEC's website at http://www.sec.gov/, or
from Global BPO at the address shown above. Forward-looking
Statements This communication contains "forward-looking statements"
which represent the current expectations and beliefs of management
Global BPO concerning the proposed acquisition of Stream and other
future events and their potential effects on Global BPO and Stream.
The statements, analyses, and other information contained herein
relating to the proposed acquisition, as well as other statements
including words such as "anticipate," "believe," "plan,"
"estimate," "expect," "intend," "will," "should," "may," and other
similar expressions, are "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are not guarantees of future results and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those anticipated. Those
factors include, without limitation: (1) whether the shareholders
of Global BPO approve the proposed acquisition and proposed sale of
preferred stock; (2) the satisfaction of the other conditions to
closing specified in both the merger agreement and preferred stock
purchase agreement; (3) the ability of Global BPO to obtain all
necessary stockholder approvals prior to the termination of the
merger agreement and preferred stock purchase agreement (October 1,
2008); and (4) the closing of Global BPO's proposed bank credit
facility. The ability of Global BPO and Stream to achieve
forecasted results are subject to various risks and uncertainties,
including: (1) the ability to successfully combine the businesses
of Global BPO and Stream; (2) operating costs and business
disruption following the acquisition, including adverse effects on
relationships with employees; (3) changes in the stock market and
interest rate environment that affect revenues; (4) the ability of
Stream to retain its existing customers and attract new customers
following the closing; (5) retention of key employees following
closing; (6) general economic conditions such as inflation or
recession; (7) general political and social conditions such as war,
political unrest and terrorism; (8) ability to maintain or increase
billing and utilization rates; (9) success of expansion
internationally; (10) competition; (11) ability to move the product
mix into higher margin businesses; (12) operating Stream as a
public company; (13) healthcare and benefit cost management; and
(14) currency fluctuation and exchange rate adjustments. The
foregoing is intended only to identify certain of the principal
factors that could cause actual results to differ from those
discussed in the forward-looking statements. Readers are referred
to the reports and documents filed from time to time by us and to
be filed in the future by us with the Securities and Exchange
Commission for a discussion of these and other important risk
factors that could cause actual results to differ from those
discussed in forward-looking statements to reflect subsequent
events or circumstances. DATASOURCE: Global BPO Services Corp.
CONTACT: Sheila M. Flaherty, Executive Vice President & General
Counsel of Global BPO Services Corp., +1-617-517-3252, Web site:
http://www.globalbpo.biz/
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