WATERLOO, Ontario--(BUSINESS WIRE)--Nov. 10, 1999--Open Text(TM) Corporation (Nasdaq: OTEX, TSE: OTC) today announced an offer to purchase for cancellation up to 4,000,000 of its common shares for US$14.00 per share (the "Offer"). The number of shares that may be purchased is approximately 16.9 % of the 23,605,470 currently issued and outstanding. The Offer expires at 5:00 p.m., Toronto time, December 14, 1999, unless extended by the Company. Full particulars of the Offer, including conditions of the Offer and procedures for tendering shares, are contained in the issuer bid circular that will be mailed to shareholders on or about November 10, 1999.
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