CGI Group Inc. (TSX: GIB.A; NYSE: GIB) announced today that Serge Godin, Founder
and Executive Chairman of the Board and Andre Imbeau, Founder, Executive
Vice-Chairman of the Board and Corporate Secretary have entered into a
transaction to monetize a total of 11 million CGI shares.
This
transaction, which involves forward contracts referencing the closing price of
CGI Class A shares on May 6, 2008, was entered into with a Canadian chartered
bank. As a result of the arrangement, the beneficial ownership and voting rights
associated with the shares will remain with Serge Godin and Andre Imbeau.
“This personal transaction by the Founders and the vehicle utilized
ensure the continuity and stability of our operations for the benefit of CGI
clients, members and shareholders,” said Michael E. Roach, CGI President and
Chief Executive Officer.
“Today’s transaction has been prudently
designed to both provide stability to CGI and long-term family estate planning
for us,” added Serge Godin. “This vehicle allows Andre and I to monetize
approximately 30% of our aggregate ownership in CGI shares and vested options
while maintaining effective control of the company in the hands of management.
At the end of the contract term in 25 years, or in the event of its earlier
termination, we can elect to deliver the contract value either in shares or in
cash.”
The amounts below represent the number of shares subject to
monetization:
Serge Godin 8,500,000 shares of CGI Group Inc. from
total holdings of 28,576,489 Class B shares, 600,600 Class A shares and
1,877,730 vested options
Andre Imbeau 2,500,000 shares of CGI
Group Inc. from total holdings of 4,275,659 Class B shares, 253,976 Class A
shares and 881,225 vested options
About CGI
Founded in 1976,
CGI Group Inc. is one of the largest independent information technology and
business process services firms in the world. CGI and its affiliated companies
employ approximately 27,000 professionals. CGI provides end-to-end IT and
business process services to clients worldwide from offices in Canada, the
United States, Europe, Asia Pacific as well as from centers of excellence in
North America, Europe and India. CGI's annual revenue run rate stands at $3.8
billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI
shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the
S&P/TSX Composite Index as well as the S&P/TSX Capped Information
Technology and MidCap Indices. Website: www.cgi.com.
CGI Forward- Looking
Statements
All statements in this press release that do not directly and
exclusively relate to historical facts constitute “forward-looking statements”
within the meaning of that term in Section 27A of the United States Securities
Act of 1933, as amended, and Section 21E of the United States Securities
Exchange Act of 1934, as amended, and are “forward-looking information” within
the meaning of sections 138.3 and following of the Ontario Securities Act, as
amended. These statements and this information represent CGI Group Inc.’s
(“CGI”) intentions, plans, expectations and beliefs, and are subject to risks,
uncertainties and other factors, of which many are beyond the control of the
Company. These factors could cause actual results to differ materially from such
forward-looking statements or forward-looking information. These factors include
and are not restricted to the timing and size of new contracts, acquisitions and
other corporate developments; the ability to attract and retain qualified
members; market competition in the rapidly-evolving information technology
industry; general economic and business conditions, foreign exchange and other
risks identified in the Management’s Discussion and Analysis (“MD&A”) in
CGI’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange
Commission (filed on EDGAR at www.sec.gov), and in CGI’s annual and quarterly
MD&A and Annual Information Form filed with the Canadian securities
authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding
the foregoing. The words “believe,” “estimate,” “expect,” “intend,”
“anticipate,” “foresee,” “plan,” and similar expressions and variations thereof,
identify certain of such forward-looking statements or forward-looking
information, which speak only as of the date on which they are made. In
particular, statements relating to future performance are forward-looking
statements and forward-looking information. CGI disclaims any intention or
obligation to publicly update or revise any forward-looking statements or
forward-looking information, whether as a result of new information, future
events or otherwise, except as required by applicable by law. Readers are
cautioned not to place undue reliance on these forward-looking statements or on
this forward-looking information.
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Investors
Lorne Gorber
Vice-President,
Global Communications and
Investor Relations
lorne.gorber@cgi.com
514-841-3355
