This first-ever-reopened tender offer in France resulted in an additional 11 percent of Integra shares exchanged for Genuity Class A common stock These new shares of Genuity Class A common stock will begin trading today on the Nouveau Marche, completing the offering process, which began in June 2001.
Following the completion of the initial and reopened offering period and certain private placement transactions, Genuity has acquired approximately 41.4 million of Integra’s 45.0 million shares representing approximately 92 percent of Integra shares outstanding. In exchange for these Integra shares as well as out of the money stock options and stock warrants (i.e., those options and warrants with an exercise price in excess of 2.78 Euro), Genuity issued approximately 31,340,000 shares of Genuity Class A common stock. Genuity obtained from the Commission des Operations de Bourse (COB) with notices visa number 01-1097 dated September 5, 2001 for the listing prospectus covering Genuity’s shares of Class A common stock listed on the Nouveau Marche.
Additionally, Genuity and Integra has announced that a new Integra Board of Directors has been appointed consisting of members of Genuity’s international management team. Gabe Yackanich, president of Genuity International, has been elected chairman and CEO of Integra S.A. Genuity and Integra also announced that Andy McLeod, has resigned from Integra, and that Charles Zaiontz has been appointed as president of Genuity Europe. In this capacity, Zaiontz will lead all European activities of Genuity and Integra.
