Attached files
file | filename |
---|---|
8-K - FORM 8-K - L-1 IDENTITY SOLUTIONS, INC. | y04303e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT:
Doni Fordyce
L-1 Identity Solutions
203-504-1109
dfordyce@L1ID.com
L-1 Identity Solutions Sets Record Date and Meeting Date for Special Meeting of Stockholders to Vote on the Merger Transaction with Safran SA
STAMFORD, CT. December 15, 2010 L-1 Identity Solutions, Inc. (NYSE: ID), a
leading supplier of identity solutions and services, today announced that a special
meeting of stockholders to vote on the previously announced merger transaction with
Safran SA has been scheduled to be held at the Hyatt Regency-Greenwich hotel
located at 1800 E Putnam Ave, Old Greenwich, CT. on February 3, 2011 at 2 p.m. Eastern
Time. L-1 stockholders of record as of the close of business on December 27, 2010
will be entitled to receive notice of, and voting materials relating to, the special
meeting.
Under the terms of the agreement entered into on September 19, 2010, Safran has agreed
to acquire L-1 Identity Solutions, Inc. following the sale of L-1s intelligence
services businesses to BAE Systems Information Solutions Inc. (a subsidiary of BAE
Systems, Inc., the U.S. affiliate of BAE Systems plc). After giving effect to the BAE
Systems transaction, L-1 will be comprised of Secure Credentialing Solutions,
Biometric and Enterprise Access Solutions and Enrollment Services.
L-1 expects the BAE Systems transaction to close late in the fourth quarter of 2010 or
early in the first quarter of 2011 and continues to expect the Safran merger to close
during the first quarter of 2011, subject, in each case, to the timing of applicable
regulatory processes and assuming satisfaction or waiver of all of the applicable
conditions.
About L-1 Identity Solutions
L-1 Identity Solutions, Inc. (NYSE: ID) protects and secures personal identities
and assets. Its divisions include Biometrics / Enterprise Access and Secure
Credentialing solutions, as well as Enrollment and Government Consulting services.
With the trust and confidence in individual identities provided by L-1, international
governments, federal and state agencies, law enforcement and commercial businesses can
better guard the public against global terrorism, crime and identity theft fostered by
fraudulent identity. L-1 Identity Solutions has more than 2,200 employees worldwide
and is headquartered in Stamford, CT. For more information, visit
www.L1ID.com.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995 and reflect the
Companys current views based on managements beliefs and assumptions and information
currently available. Forward-looking statements concerning future plans or results are
necessarily only estimates, and actual results could differ materially from
expectations. Certain factors that could cause or contribute to such differences
include, among other things, the availability of customer funding for L-1 products and
solutions, general economic and political conditions, the timing of consummating the
previously -
announced proposed transactions with Safran SA and BAE Systems, Inc, the risk that a
condition to closing such proposed transactions may not be satisfied, the risk that a
regulatory approval that may be required for such proposed transactions is not
obtained or is obtained subject to conditions that are not anticipated, the ability of
the Company to successfully refinance or amend its credit agreement on a timely basis
if required, and additional risks and uncertainties described in the Securities and
Exchange Commission filings of L-1 Identity Solutions, including its Form 10-K for the
year ended December 31, 2009 and the Companys Form 10-Q for the quarter ended
September 30, 2010 and the Form 8-K filed on November 17, 2010. L-1 Identity
Solutions expressly disclaims any intention or obligation to update any
forward-looking statements.
Important Information For Investors and Stockholders
This communication may be deemed to be solicitation material in respect of the
proposed acquisition of L-1 by Safran. In connection with the proposed acquisition, on
November 23, 2010, L-1 filed preliminary materials with the SEC, including a
preliminary proxy statement on Schedule 14A. These materials are not yet final and
will be amended. INVESTORS AND SECURITY HOLDERS OF L-1 ARE URGED TO READ THESE
MATERIALS AND THE DEFINITIVE VERSIONS THEREOF WHEN THEY BECOME AVAILABLE, AS WELL AS
ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED
ACQUISITION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT L-1, SAFRAN AND THE
PROPOSED ACQUISITION.
Investors and security holders may obtain a copy of the preliminary materials filed on
November 23, 2010, the definitive versions of these materials and other and relevant
materials (when they become available), and any other documents (when they become
available) filed with the SEC free of charge at the SECs web site at www.sec.gov. The
preliminary materials, the definitive versions thereof and such other documents, when
they become available, may also be obtained free of charge on L-1s website at
www.L1ID.com under the tab Investor Relations or by contacting L-1s investor
relations department at (203) 504-1109.
L-1 and its directors and executive officers may be deemed to be participants in the
solicitation of proxies of L-1 stockholders in connection with the proposed
acquisition. Information regarding L-1s directors and executive officers is set forth
in L-1s proxy statement for its 2010 annual meeting of stockholders, which was filed
with the SEC on March 16, 2010. Other information regarding the participants in the
proxy solicitation and a description of their direct and indirect interests, by
security holdings or otherwise, are set forth in the preliminary proxy statement filed
on November 23, 2010.
ID:D
###