Stream Global Services Announces Warrant Purchase of 425,000 Warrants for $.15 Each From Ares
04 November 2009 - 10:17PM
PR Newswire (US)
BOSTON, Nov. 4 /PRNewswire-FirstCall/ -- Stream Global Services,
Inc., (NYSE/AMEX: SGS), a premium business process outsource (BPO)
service provider specializing in customer relationship management
services for Fortune 1000 companies, today announced that pursuant
to an August 14, 2009 agreement with Ares Management LLC, Stream
today bought 425,000 of its public warrants held by Ares at a price
of $.15 per warrant for a total of $63,750. In addition, Stream
today also announced an additional 11,023 of its publicly traded
warrants have been exercised for a total exercise price of $66,138.
Stream currently has 20,091,517 publicly traded warrants
outstanding (NYSE/AMEX:SGS) to acquire common shares at a cash
exercise price of $6.00 per common share that expire on October 17,
2011. In addition, Ares Management, Providence Equity Partners and
Ayala Corporation continue to have participation rights to acquire
49,944,880 common shares for $6.00 per common share in cash, at a
rate of 2.4364 common shares for each public warrant that is
exercised for cash at $6.00 per share, if and when any of the
publicly traded warrants are exercised. These participation rights
expire when the public warrants expire on October 17, 2011. Ayala
Corporation, which has the right to purchase the first 1.0 million
of these shares, has exercised its participation right to purchase
an additional 26,856 shares of common stock at $6.00 per share, for
a total exercise to date of 55,120 shares. About Stream Global
Services: Stream Global Services is a premium business process
outsource (BPO) service provider specializing in customer
relationship management services including sales, customer care and
technical support for Fortune 1000 companies. Stream is a trusted
partner to some of the world's leading technology, computing,
telecommunications, retail, entertainment/media, and financial
services companies. Our service programs are delivered through a
set of standardized best practices and sophisticated technologies
by a highly skilled workforce of approximately 30,000 employees
based out of 50 solution centers in 22 countries supporting more
than 30 languages. Stream continues to expand its global presence
and service offerings to increase revenue, improve operational
efficiencies and drive brand loyalty for its clients. To learn more
about the company and its complete service offering, please visit
http://www.stream.com/. Contact Information: Sally Comollo Director
of Marketing Communications 781-304-1847 DATASOURCE: Stream Global
Services, Inc. CONTACT: Sally Comollo, Director of Marketing
Communications of Stream Global Services, Inc., +1-781-304-1847,
Web Site: http://www.stream.com/
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