Alcatel-Lucent provides update on holdings of Bridgewater Systems
Ottawa – Alcatel-Lucent Canada Inc. (“ALCI”), an indirect subsidiary of Alcatel-Lucent (Euronext Paris and NYSE: ALU) of France, is announcing an update regarding its holdings in Bridgewater Systems Corporation (TSX: BWC) (“Bridgewater”).At the time of Bridgewater’s initial public offering in December, 2007, ALCI entered into a lock-up agreement that limited its ability to sell its Bridgewater shares. The lock-up agreement expired on December 15, 2008, and as a result ALCI is no longer restricted in its ability to sell any of its shares of Bridgewater.
ALCI confirms that it currently holds beneficial ownership and sole control of 3,454,672 common shares of Bridgewater, representing approximately 15.5% of the issued and outstanding common shares of Bridgewater. These shares were owned at the date of Bridgewater’s initial public offering (“IPO”) in December, 2007. At the time of the IPO, the shares of Bridgewater had a market value, based on the IPO price, of C$5.50 each. The Bridgewater shares are held for investment purposes. ALCI originally acquired the shares as a strategic investment while Bridgewater was a private company. No person is acting jointly or in concert with ALCI or shares ownership or control over these shares of Bridgewater.
As the lock-up agreement has now expired, ALCI expects that, under appropriate circumstances and on appropriate terms, it will dispose of some or all of these shares. Any such dispositions could occur in the market, in private agreement transactions or otherwise. ALCI is not required to file notices in advance of proposed trades.
Alcatel-Lucent (Euronext Paris and NYSE: ALU) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions that deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 17.8 billion in 2007 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com
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