Stream Global Services Announces Public Warrant Exercises and Exercise of Participation Rights by Ayala Corporation
Posted on: Wednesday, 28 October 2009, 11:56 CDT
BOSTON, Oct. 28 /PRNewswire-FirstCall/ -- Stream Global Services, Inc. (NYSE Amex: SGS), a premium business process outsource (BPO) service provider specializing in customer relationship management services for Fortune 1000 companies, today announced that 11,601 of its publicly traded warrants have been exercised for a total exercise price of $69,606. The exercise of our publicly traded warrants triggered certain participation rights held by certain of our shareholders. Ares Management, Ayala Corporation and Providence Equity Partners have participation rights to purchase for $6.00 per share an aggregate number of shares of Stream's common stock equal to 2.4364 multiplied by the number of shares actually issued upon exercise of the publicly traded warrants. Ayala Corporation, which has the right to purchase the first 1.0 million of these shares, has exercised its participation rights to purchase 28,265 common shares at $6.00 per share. The maximum number of shares of Stream's common stock issuable pursuant to these participation rights in the event that all common shares underlying the publicly traded warrants are exercised is 50,000,000. After the recent public warrant exercise, Stream has 20,510,017 publicly traded warrants outstanding (NYSE Amex: SGS) to acquire common shares at a cash exercise price of $6.00 per common share that expire on October 17, 2011. In addition, Ares Management, Providence Equity Partners and Ayala Corporation continue to have participation rights to acquire 49,971,735 common shares for $6.00 per common share in cash, at a rate of 2.4364 common shares for each public warrant that is exercised for cash at $6.00 per share, if and when any of the publicly traded warrants are exercised. These participation rights expire when the public warrants expire on October 17, 2011.
Contact Information: Sally Comollo Director of Marketing Communications sally.comollo@stream.com 781-304-1847About Stream Global Services:
Stream Global Services is a premium business process outsource (BPO) service provider specializing in customer relationship management services including sales, customer care and technical support for Fortune 1000 companies. Stream is a trusted partner to some of the world's leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies. Our service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled workforce of approximately 30,000 employees based out of 50 solution centers in 22 countries supporting more than 30 languages. Stream continues to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.
SOURCE Stream Global Services, Inc.
Source: PR Newswire
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