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TIE Holding N.V. (AMS:TIE) TIE Holding N.V. ("TIE") hereby announces that it has reached an understanding to purchase the remaining 49,75% of the shares in TIE France SAS.
Current owner of the 49,75% shares and Managing Director of TIE France SAS, R. Lücke, agreed to sell his shares to TIE for a total amount of EUR 291,250. EUR 141,250 will be paid in cash. Part of the purchase price is a convertible bond amounting EUR 150,000, with a notional term of five years and a lock-up of one year. The convertible bond is non-interest bearing and the conversion rate of the bond is based upon the closing date of yesterday, November 10, 2008, and amounts to EUR 0.10.
TIE has decided to provide R. Lücke with an individual option plan, in order to establish further commitment of him to the Company. The Management Board values the performance of R. Lücke as Managing Director of TIE France SAS. Under his management, TIE France SAS has established growth in revenue over the last 2 years. The Management Board has decided that R. Lücke remains in France in order to continue his management of the division.
This transaction is in line with TIE's strategy for international product and market development, and prevents distraction from the main focus of the Company.
Profile TIE Master Data Management Software Company TIE (NYSE Euronext: TIE Holding) bridges the gap between online and traditional business. TIE helps industry and supply chain partners to achieve electronic business collaboration with solutions in the traditional and upcoming markets like Data Quality Management, e-Invoicing, Master Data Management and Digital Channel Communications. Our solutions are proven to lower costs, increase revenue and optimize business processes. Because we have decades of experience to share, TIE remains a key contributor to the development and implementation of global eCommerce standards. TIE is a publicly held company with offices in the United States, France, and the Netherlands. Further information:
TIE Holding N.V.
Jan Sundelin, CEO
Antareslaan 22-24 2132 JE Hoofddorp The Netherlands
T: +31-20-658 93 33 F: +31-20-658 90 01
E: info@TIEglobal.com W: www.TIEglobal.com
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