CGI
FOUNDERS TO MONETIZE PORTION OF SHAREHOLDING
WHILE
PROTECTING CGI’S DESTINY
Montreal, Quebec, May 7, 2008
– 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.
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.
-30-
For
more information:
Lorne
Gorber
Vice-President
Global
Communications and Investor Relations
514-841-3355