Unit 4 Agresso NV (“Unit 4 Agresso”) announces that on 18 December 2007 it made an indicative approach to acquire Coda Plc (“CODA”) at 205p per ordinary share in cash for the entire issued and to be issued ordinary share capital of CODA (the “Approach”). The Approach is subject to a number of pre-conditions including the satisfactory completion of due diligence and financing.
The Board of CODA considered the Approach and concluded that a limited due diligence exercise should proceed. This exercise is at an advanced stage. There is no guarantee of any offer being made for the Company. Were such an offer to be made it is expected to be funded by Unit 4 Agresso’s existing cash balances and debt finance.
Together, CODA and Unit 4 Agresso would create one of Europe’s top ten business
software vendors*, with turnover in excess of €300m (based on 2006 published figures) and operations in nineteen countries.
A further update is expected before the end of January 2008.

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