TORONTO & WINDSOR, CT â April 19, 2005 â SS&C Technologies, Inc. today announced that, pursuant to the offer made March 7, 2005 by its wholly-owned subsidiary, 1651943 Ontario Inc., to purchase all the outstanding common and class C shares of Financial Models Company Inc. (the "Offer"), 1651943 Ontario Inc. paid, on April 19, 2005, for all FMC shares taken up on April 14, 2005.
On April 20, 2005, 1651943 Ontario Inc. intends to mail a notice of compulsory acquisition to acquire the remaining outstanding common shares of FMC not deposited under the Offer. This compulsory acquisition is to be made in accordance with the provisions of section 188 of the Ontario Business Corporations Act.
At the expiry of the offer, at 5:00 p.m. (Toronto time) on April 14, 2005, an aggregate of 9,678,574 common shares were tendered to the Offer, representing approximately 99.8% of the outstanding common shares of FMC, and an aggregate of 1,344,400 class C shares were tendered to the Offer, representing 100% of the class C shares of FMC. The aggregate purchase price for the outstanding FMC shares, including those shares not tendered, is approximately US$159,000,000.