Another $8 million paid toward the loan. Obviously, cash flow is coming in. However, I wish management will be more concern about investors confidence and not wait until the deadline has passed before issuing news on the progress of the loan facility discussion. Every time management keeps quiet until a deadline is passed, the stock takes a beating.
Keep the investors relations email handy, and be prepared to write John Caldwell, CEO and give him hell if he does it again. The deadline for completing the loan facility discussion is now March 16, 2001.
when will they ever learn....
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Thursday February 22, 1:02 pm Eastern Time
Press Release
Geac: Arrangement With Banking Syndicate Extended Until March 16th
TORONTO--(BUSINESS WIRE)--Feb. 22, 2001--Geac Computer Corporation Limited (TSE:GAC. - news) announced today that the period for discussions with its banking syndicate relating to its credit facility will continue until March 16, 2001.
Following an additional payment of U.S. $8 million today, U.S. $40 million will remain outstanding under the facility.
Geac Computer Corporation Limited is a provider of mission critical software and systems solutions to corporations around the world. Geac solutions include cross-industry enterprise business applications for financial administration and human resources functions, and enterprise resource planning applications for manufacturing, distribution, and supply chain management. Geac also provides industry applications to the hospitality, property and publishing marketplaces, as well as a wide range of applications for libraries and public administration. Headquartered in Toronto, Canada, Geac ranks as one of the world's largest software companies. Further information is available on the World Wide Web at geac.com, or through e-mail at info@geac.com.
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about the Company's business are more fully discussed in Management Discussion and Analysis published in the Company's annual report.
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Contact:
GEAC Computer Corporation Limited
Michel Gelinas, 416/642-1960
Fax: 416/642-8454
m.gelinas@geac.com
www.geac.com |
