CSC Issues Update On Xchanging Deal - Quick Facts

(RTTNews) - CSC Computer Sciences International Operations Limited, a subsidiary of Computer Sciences Corp. (CSC), announced it has acquired 24,760,355 ordinary shares of 5 pence each in Xchanging plc, representing 9.99 percent of the existing ordinary share capital of Xchanging, from Capita plc at a price of 190 pence per Xchanging share. Additionally, the CSC subsidary has received irrevocable undertakings, other commitments and a letter of intent to accept its recommended cash offer in respect of a total of 116,663,891 Xchanging Shares, representing approximately 47.07 percent of the existing ordinary share capital of Xchanging.

CSC said it intends to appeal to the Takeover Appeal Board regarding the decision of the Hearings Committee of the Takeover Panel to uphold the ruling of the Panel Executive regarding Ebix on 9 December 2015.