CDC Corporation Provides Update with Respect to its Intended $5.00 per Share All Cash Tender Offer for Onyx Software Corporatio
July 10 2006 - 10:45PM
PR Newswire (US)
ATLANTA and HONG KONG, July 10 /Xinhua-PRNewswire-FirstCall/ -- CDC
Corporation (NASDAQ:CHINA), focused on enterprise software, mobile
applications and online games, today announced that it intends to
file its Schedule TO and related tender offer documents with the
Securities and Exchange Commission and to commence its $5.00 per
share cash tender offer for all of the outstanding shares of common
stock of Onyx Software Corporation (NASDAQ:ONXS) on Wednesday, July
12, 2006. About the Tender Offer CDC Corporation's offer will be
subject to typical tender conditions and customary regulatory
approvals, but will not be conditioned upon financing or completion
of due diligence. CDC Corporation has sufficient liquidity to fund
its offer for all of the outstanding shares of Onyx. This document
is neither an offer to purchase nor a solicitation of an offer to
sell securities. The tender offer for the outstanding common stock
of Onyx described in this document has not commenced. At the time
the offer is commenced, CDC Corporation will file a tender offer
statement with the U.S. Securities and Exchange Commission. The
tender offer statement (including an offer to purchase, a related
letter of transmittal and other offer documents) will contain
important information that should be read carefully before any
decision is made with respect to the tender offer. Once the tender
offer is commenced, offering materials will be made available to
Onyx stockholders at no expense to them. In addition, investors and
stockholders may obtain a free copy of these statements (when
available) and other relevant documents at the SEC's website,
http://www.sec.gov/ , or from the information agent for the offer.
The tender offer will be made only through the offer to purchase
and related letter of transmittal. About CDC Corporation CDC
Corporation (NASDAQ:CHINA) is focused on enterprise software,
mobile applications and online games. As part of its strategic
review, the company has reorganized into two primary operating
business units, CDC Software and China.com Inc. For more
information about CDC Corporation, please visit the website:
http://www.cdccorporation.net/ Cautionary Note Regarding
Forward-Looking Statements This press release includes
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995, including
statements relating to the intended launch of a tender offer, the
effects of corporate restructurings and strategic initiatives at
the company, anticipated consummation of a strategic transaction,
and further actions to be taken following consummation of such a
transaction. These statements are based on management's current
expectations and are subject to risks and uncertainties and changes
in circumstances. There are important factors that could cause
actual results to differ materially from those anticipated in the
forward-looking statements, including the following: whether any
tender offer is actually launched; whether the conditions to the
tender offer will be satisfied; the application of certain
anti-takeover provisions contained in Onyx's Articles of
Incorporation and in Washington's Business Corporation Act; the
final structure of any proposed transaction; the ability to realize
strategic objectives by taking advantage of market opportunities in
targeted geographic markets; the ability to make changes in
business strategy, development plans and product offerings; the
ability to integrate operations or new acquisitions in accordance
with the company's business strategy; and the effects of
restructurings and rationalization of operations. Further
information on risks or other factors that could cause results to
differ is detailed in filings or submissions with the United States
Securities and Exchange Commission made by CDC Corporation in its
Annual Report for the year ended December 31, 2005 on Form 20-F
filed on June 21, 2006. All forward-looking statements included in
this press release are based upon information available to
management as of the date of the press release, and you are
cautioned not to place undue reliance on any forward-looking
statements which speak only as of the date of this press release.
The company assumes no obligation to update or alter the
forward-looking statements whether as a result of new information,
future events or otherwise. For further information, please
contact: Investor Relations Craig Celek CDC Corporation Tel:
+1-212-661-2160 Email: Media Relations Scot McLeod CDC Software
Tel: +1-770-351-9600 Email: DATASOURCE: CDC Corporation CONTACT:
Craig Celek of CDC Corporation, +1-212-661-2160, or fax,
+1-646-827-2421, or ; Scot McLeod of CDC Software, +1-770-351-9600,
or Web site: http://www.cdccorporation.net/
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