Vancouver, B.C., January 21, 2004
— The Special Committee of Pivotal Corporation (“Pivotal”) (Nasdaq: PVTL; TSX: PVT) and chinadotcom corporation (“chinadotcom”) (Nasdaq: CHINA) are providing a further update on developments which have occurred since the last joint press release.
The British Columbia Supreme Court has now issued an interim order permitting Pivotal to call a meeting of its securityholders to consider and approve the transaction with chinadotcom. The meeting will be held at 2:00 pm (Vancouver time) on February 23, 2004. Shareholders of record as of the close of business on January 21, 2004 will be entitled to receive notice of the meeting and to vote.
If the transactions are approved by all necessary securityholder votes, Pivotal expects to make an application to the British Columbia Supreme Court for final approval of the transactions on February 24, 2004 and the transactions would then be expected to close on February 25, 2004.
Full details regarding the proposed transactions and the meeting itself will be contained in the meeting materials which Pivotal expects to send to securityholders early next week.
Pivotal Corporation is the only CRM company that is 100 percent purpose-built to serve the demanding requirements of mid-sized enterprises – a powerful, highly flexible application platform, a complete set of CRM applications, and low-cost, results-producing implementation services. Pivotal delivers software and services that produce meaningful increases in revenues, margins and customer loyalty for companies and business units in the revenue range of $100 million to $3 billion. More than 1,600 companies around the world have licensed Pivotal including: CIBC, Centex Homes, Farm Credit Services of America, HarperCollins Publishers, Hitachi Telecom Inc., Palm, Inc., Pharmacia Corporation, Premera Blue Cross, Royal Bank of Canada, Sharp Electronics Corporation, Southern Company, Vivendi and WebEx Communications.
Pivotal's complete CRM software suite includes a powerful application platform and capabilities in marketing, sales, service, contact centers, partner management and interactive selling. For more information, visit www.pivotal.com.
This press release contains forward-looking statements, including those relating to the date of the extraordinary meeting of Pivotal’s shareholders to consider the transaction with chinadotcom and the closing of such transaction. Forward-looking statements include statements about plans and proposals for future actions, or events or conditions that may occur in the future. The words “believe,” “expect,” “intend,” “anticipate,” variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to risks and uncertainties and other factors that could cause actual events, conditions or results to differ materially from those anticipated in the forward-looking statements, as a result of a variety of risks, uncertainties and other factors, including, without limitation the possibility that conditions to closing of any acquisition agreement may not be satisfied, that one or more third parties may make competing acquisition proposals, commence litigation or take other action to seek to delay or prevent consummation of a transaction, or other events may cause Pivotal’s board to deem it advisable to hold the shareholders meeting at a different time or place than presently anticipated. Pivotal and chinadotcom assume no obligation to update forward-looking statements to reflect future events.
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