SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of
1934
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[X] Definitive Additional Materials
[ ] Soliciting Material Pursuant to section 240.14a-11(c) or section
240.14a-12
THE PIONEER GROUP, INC.
---------------------------------------------------------------------------
(Name of Registrant as Specified in Its Charter)
n/a
---------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11.
1) Title of each class of securities to which transaction
applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for which
the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule
and the date of its filing.
1) Amount Previously Paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party:
4) Date Filed:
PIONEER LOGO
PIONEER RESPONDS TO WITHDRAWAL OF LENS'S NOMINEES
Boston, MA (May 15, 2000) - The Pioneer Group, Inc. ("Pioneer")
[NASDAQ:PIOG] today responded to the withdrawal of the Lens Investment
Management, LLC slate of director nominees that is scheduled to be voted on
at The Pioneer Group's Annual Meeting on Tuesday, May 16, 2000.
John Cogan, Jr., President and CEO of The Pioneer Group, Inc. responded to
the announcement saying, "We are pleased that our Annual Meeting will go
forward as planned without distraction. For the last several months,
Pioneer's Board has been actively exploring strategic alternatives to
maximize shareholder value. These efforts culminated in our agreement to
sell Pioneer to UniCredito which we announced this morning. We are pleased
that we have accomplished our goal with today's announced sale."
As separately announced today, UniCredito Italiano Group ("UniCredito")
will purchase all of the outstanding shares of The Pioneer Group for $43.50
per share in cash. In the transaction, UniCredito Italiano Group will
acquire all of Pioneer's global investment management businesses, including
operations in Germany, Eastern Europe and Asia. The combination of Pioneer
and UniCredito will create one of the few asset management groups with
strong bases in both the U.S. and Europe, with presence in eight countries.
In addition, prior to the close of Pioneer's transaction with UniCredito,
Pioneer will distribute to its shareholders 100% of the company's ownership
interest in its remaining assets, including its Russian financial services
operation, its natural resource businesses, and its interests in venture
capital and real estate.
The Pioneer Group, Inc. is a global asset manager and currently manages $24
billion of assets on behalf of individual and institutional investors.
Based in Boston, Pioneer has financial services operations in the Czech
Republic, Germany, India, Ireland, Poland and Russia. Its flagship fund,
Pioneer Fund, was founded in 1928 and is the fourth oldest mutual fund in
the United States.
This press release contains certain forward-looking statements within the
meaning of the safe-harbor provisions of the U.S. federal securities laws.
These forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed
in the forward-looking statements. Many of these risks and uncertainties
relate to factors that are beyond the company's ability to control or
estimate precisely, such as future market conditions, the behavior of other
market participants and the actions of governmental regulators. Certain of
these and other risk factors are detailed in The Pioneer Group, Inc.'s SEC
reports. The company does not undertake any obligation to publicly release
any revisions to these forward-looking statements to reflect events or
circumstances after the date of this press release.
Contact Information:
THE PIONEER GROUP, INC.:
For Media: For Investors:
Anne Patenaude Greta Gahl
617-422-4797 617-422-4978
# # #