BusinessCompany NewsFormer FD offers ‘best deal’ for Misys

Former FD offers 'best deal' for Misys

Management team would offer ‘full value for investors’

Ross Graham, the former finance director of software group Misys, has written
to the company’s board saying he believes that his management team could offer
the best opportunity for it to maximise shareholder value.

Graham, along with former executives Mike O’Leary and John Sussens, claim
they can assist the board in meeting this objective ‘by providing an alternative
to any possible offers that are received for the company or its businesses and
that fall short of delivering fair value for shareholders’.

In a statement, the group said: ‘The proposal would involve the assumption by
the team of senior management control of Misys and the implementation of a
strategy designed to realise full value for existing shareholders within a two
year period.’

The team’s strategy would entail:

– operational separation of the Company’s three businesses to empower their
managements

– re-incentivisation of divisional management and employees

– cost reduction through de-centralising the management of the group

– demerger of the three businesses, once prepared for full separation, or
sale if offers are received that deliver appropriate value to shareholders

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