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Allscripts-Misys Healthcare
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Announcement of Favourable US Tax Ruling
Misys plc (“Misys”) announces that it received yesterday from the US Internal Revenue Service (“IRS”) a ruling confirming that there will be no material tax liability resulting from the US corporate reorganisation associated with the sale of a majority of its stake in Allscripts Healthcare Solutions, Inc, as described in its shareholder circular of 29 July 2010 (the “July Circular”).
Misys therefore expects that the associated retention of US$168 million, which was implemented by means of a bank guarantee, will be terminated in the next few weeks. Following such termination, during November, Misys intends to launch a return of capital of over US$1 billion via a tender offer, as described in the July Circular.
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