Kronos Announces Date for Special Meeting of Shareholders
Meeting to include vote to approve merger agreement for acquisition of Kronos Incorporated
CHELMSFORD, Mass.--(BUSINESS WIRE)--April 30, 2007--Kronos®
Incorporated (NasdaqGS: KRON) today announced that it will hold a
special meeting of Kronos' shareholders on Friday, June 8, 2007 at
9:00 a.m. Eastern Time at the offices of Wilmer Cutler Pickering Hale
and Dorr LLP, 60 State Street, Boston, Massachusetts 02109. At the
meeting, Kronos' shareholders will vote on the previously announced
merger agreement providing for the acquisition of Kronos by entities
affiliated with Hellman & Friedman LLC, a private equity investment
firm. Shareholders of record as of the close of business on Monday,
April 30, 2007 will be entitled to notice of and to vote at the
special meeting.
About Kronos Incorporated
Kronos Incorporated empowers organizations around the world to
effectively manage their workforce. At Kronos, we are experts who are
solely focused on delivering software and services that enable
organizations to reduce costs, increase productivity, improve employee
satisfaction, and ultimately enhance the level of service they
provide. Kronos serves customers in more than 50 countries through its
network of offices, subsidiaries, and distributors. Widely recognized
as a market and thought leader in managing the workforce, Kronos has
unrivaled reach with more than 30 million people using a Kronos
solution every day. Learn more about Kronos at www.kronos.com.
Important Additional Information Will Be Filed With the SEC
In connection with the proposed merger, on April 10, 2007, Kronos
filed a preliminary proxy statement with the Securities and Exchange
Commission, or the SEC. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO
READ THE DEFINITIVE PROXY STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE
IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION
AND THE PARTIES THERETO. Investors and security holders will be able
to obtain free copies of the definitive proxy statement, when
available, and other documents filed with the SEC by Kronos through
the web site maintained by the SEC at www.sec.gov. In addition,
investors and security holders will be able to obtain free copies of
the definitive proxy statement and other documents filed with the SEC
from Kronos by contacting Kronos Investor Relations at 978-250-9800.
Kronos and its directors and executive officers may be deemed to
be participants in the solicitation of proxies with respect to the
transactions contemplated by the merger agreement. Information
regarding Kronos' directors and executive officers is contained in
Kronos' Annual Report on Form 10-K for the year ended September 30,
2006, as amended, and its proxy statement dated January 19, 2007,
which are filed with the SEC. As of February 28, 2007, Kronos'
directors and executive officers beneficially owned approximately
1,187,844 shares, or 3.6%, of Kronos' common stock. You can obtain
free copies of these documents from Kronos using the contact
information set forth above. Additional information regarding
interests of such participants is included in the preliminary proxy
statement on file with the SEC and will be included in the definitive
proxy statement when it becomes available.
Safe Harbor For Forward-Looking Statements
Statements in this press release regarding the proposed
transaction between Hellman & Friedman and Kronos, the expected
timetable for completing the transaction, and any other statements
about Hellman & Friedman or Kronos management's future expectations,
beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not statements of
historical fact (including statements containing the words "believes,"
"plans," "anticipates," "expects," "estimates" and similar
expressions) should also be considered to be forward-looking
statements. There are a number of important factors that could cause
actual results or events to differ materially from those indicated by
such forward-looking statements. Important factors that might cause
such a difference include, but are not limited to: the ability of
Kronos to obtain shareholder approval of the merger, the possibility
that the merger will not close or that the closing will be delayed,
and other events and factors disclosed previously and described in
Kronos' Annual Report on Form 10-K for the year ended September 30,
2006, as amended, and its Quarterly Report on Form 10-Q for the
Quarter ended December 30, 2006. Kronos disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release.
CONTACT: Kronos
Paul Lacy, 978-947-4944
placy@kronos.com
or
Hellman & Friedman
Steve Bruce, 212-371-5999
The Abernathy MacGregor Group
sb@abmac.com
SOURCE: Kronos Incorporated
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