Toronto, Canada – March 31, 2010 — Constellation Software Inc. (“Constellation”) (TSX:CSU) announced today that acceptances for its previously announced offer on March 2, 2010 to purchase all of the outstanding common shares of UK-based Gladstone PLC (“Gladstone”) for 33 pence per share have been received which together with the Gladstone shares already owned by Constellation enable Constellation to control approximately 63% of the voting rights of Gladstone shares. The previously announced offer is now declared wholly unconditional and will remain open for acceptances until at least 21 April 2010
As previously disclosed, there are approximately 33.8 million fully diluted shares that Constellation does not own which makes the offer worth approximately £10 million net of option exercise proceeds (assuming all in the money option holders accept the offer on a cash cancellation basis).
About Constellation:
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries.
Forward Looking Statements:
Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Constellation or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date hereof. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements are made as of the date hereof and Constellation assumes no obligation to update any forward looking statements to reflect new events or circumstances.