Filed by Policy Management Systems Corporation
Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant
to Rule 14a-12 under the Securities Exchange Act of 1934.
Subject company: Policy Management Systems Corporation
Commission File No. 1-10557
Timothy V. Williams Charles T. Conway Jr.
Executive Vice President & Director, Corporate Communications
Chief Financial Officer (803) 333-5348
(803) 333-5638 E-mail: [email protected]
E-mail: [email protected]
POLICY MANAGEMENT SYSTEMS CORPORATION ANNOUNCES
FILING OF FORM S-4 WITH SEC
COLUMBIA, S.C., APRIL 28, 2000: Policy Management Systems Corporation
(NYSE: PMS) announced today it has filed a Registration Statement on Form S-4
related to the proposed merger with Politic Acquisition Corp., an affiliate of
Welsh, Carson, Anderson & Stowe. The Registration Statement includes a
preliminary proxy statement/prospectus which, when completed, will be used to
solicit stockholder approval of the proposed merger at a special meeting of
stockholders.
The PMSC Board of Directors has postponed the annual meeting of stockholders,
which had been scheduled for May 9. The annual meeting will be rescheduled
subsequent to the special meeting of stockholders.
PMSC will provide notice of dates and times of the special meeting of
stockholders and annual meeting as soon as they are determined.
PMSC, headquartered in Columbia, S.C., is the leader in providing enterprise and
electronic commerce application software, professional services, and outsourcing
designed to meet the needs of the global insurance and related financial
services
( more )
industries. On January 21, 2000, PMSC announced it is changing its name to Mynd.
Information on PMSC and its products and services can be found on the World Wide
Web at http://www.pmsc.com.
-------------------
-30-
Statements about the proposed agreement are forward-looking statements that
involve risks and uncertainties. Among the factors that could cause actual
results to differ materially from those in the forward looking statements are:
the failure of the agreement to be consummated and those factors in PMSC's 1999
Annual Report on Form 10K/A and other reports and filings with the U.S.
Securities and Exchange Commission. PMSC disclaims any intention or obligation
to update or revise any forward-looking statements.
PMSC has filed a preliminary proxy statement/prospectus relating to the proposed
merger with the Securities and Exchange Commission. PMSC will prepare and file
with the SEC a definitive proxy statement/prospectus. Investors are urged to
read the definitive proxy statement/prospectus, when available, as well as other
relevant documents filed by PMSC with the SEC because they will contain
important information. Investors will be able to obtain these documents for free
from the SEC's website, www.sec.gov, or from PMSC investor services at
www.pmsc.com. Information about participants in the solicitation of proxies for
the merger, including direct or indirect interests, by securities holdings or
otherwise, is included in the preliminary proxy statement/prospectus.
