Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - AGILYSYS INC | l38143e8vk.htm |
| EX-99.2 - EX-99.2 - AGILYSYS INC | l38143exv99w2.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Agilysys Receives Statement From MAK Capital, Its Largest Shareholder,
Announcing Intent to Increase Its Ownership Above 20% of Outstanding
Shares
Announcing Intent to Increase Its Ownership Above 20% of Outstanding
Shares
CLEVELAND — November 20, 2009 — Agilysys, Inc. (Nasdaq: AGYS), a leading provider of innovative
IT solutions, announced today it received, under Section 1701.831 of the Ohio Revised Code, Ohio’s
“control share acquisition statute,” an Acquiring Person Statement from MAK Capital Fund, LP and
Paloma International L.P., notifying the company of their intent to increase their direct or
indirect ownership of Agilysys’ common shares above 20%, but not to exceed one-third. The Acquiring
Person Statement indicates that MAK Capital does not intend, either alone or in concert with any
other person, to exercise control of the Company.
MAK Capital One LLC is the investment manager of both MAK Capital Fund and Paloma International
L.P., and is a private investment fund and the largest current shareholder of Agilysys. It
currently owns 19.18% of the issued and outstanding shares of Agilysys common stock. R. Andrew
Cueva, managing director of MAK Capital, has served on the Agilysys Board of Directors since June
2008.
The statement indicates MAK Capital intends to increase its holdings to greater than 20%, but less
than one-third, in any legally permitted manner, including, among other things, through purchases
of Agilysys shares on the open market and block trades. Under Ohio law, Agilysys is required to
conduct a special meeting to allow shareholders to approve or disapprove MAK Capital’s ownership in
Agilysys above the 20% threshold. The Board of Directors of Agilysys has not yet scheduled the
date of the special meeting, and the company will issue another release once the date has been
determined.
About Agilysys, Inc.
Agilysys is a leading provider of innovative IT solutions to corporate and public-sector customers,
with special expertise in select markets, including retail and hospitality. The company uses
technology — including hardware, software and services — to help customers resolve their most
complicated IT needs.
The company possesses expertise in enterprise architecture and high availability, infrastructure
optimization, storage and resource management, identity management and business continuity; and
provides industry-specific software, services and expertise to the retail and hospitality markets.
Headquartered in Cleveland, Agilysys operates extensively throughout North America, with additional
sales offices in the United Kingdom and Asia. For more information, visit www.agilysys.com.
Investor Contact:
Curtis Stout
Vice President and Treasurer
Agilysys, Inc.
440-519-8635
curtis.stout@agilysys.com
Vice President and Treasurer
Agilysys, Inc.
440-519-8635
curtis.stout@agilysys.com