Currently, CHLP owns around 69% of Corel's outstanding shares.
A special committee of Corel's board that was created for assistance in evaluating and responding to the CHLP Proposal will be dissolved.
The Company announced that the directors mandated to act on behalf of the Board have carefully reviewed the CHLP tender offer with the assistance of their financial and legal advisors.
If the tender offer is successfully completed, CHLP will take steps as necessary to acquire all common shares not tendered in the offer at the same price per share as it paid in the offer, to de-register Corel as a public company and to thereby cause Corel to become a private company owned by CHLP.
Interested nominators can request a brochure and a Letter of Intent (LOI) form by contacting: CHLP
, 30 Winter St.
Under the terms of its tender offer, CHLP
is seeking to acquire, subject to certain conditions, all of the outstanding common shares of Corel not owned by it for $(U.
Since the original announcement of the CHLP
Proposal on March 28, 2008, Corel's Board of Directors announced the formation of a special committee of the Board (the "Special Committee") to assist the Board in evaluating and responding to the CHLP
There can be no assurance that any transaction with CHLP
or any other party will be consummated.