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EXHIBIT (a)(7)
This announcement is neither an offer to purchase nor a solicitation of an
offer to sell shares of common stock of Splash Technology Holdings, Inc.
("Splash"). An offer is being made solely by the Offer to Purchase, dated
September 14, 2000 and the related Letter of Transmittal, and is being made to
all Splash stockholders. Vancouver Acquisition Corp., a wholly owned subsidiary
("Purchaser") of Electronics For Imaging, Inc. ("EFI"), is not aware of any
jurisdiction where the making of the offer is prohibited by any administrative
or judicial action pursuant to any valid state statute. If Purchaser becomes
aware of any valid state statute prohibiting the making of the offer or the
acceptance of shares pursuant thereto, Purchaser will make a good faith effort
to comply with such state statute. If, after such good faith effort, Purchaser
cannot comply with such state statute, the offer will not be made to (nor will
tenders be accepted from or on behalf of) the holders of shares in such state.
In any jurisdiction where the securities, blue sky or other laws require the
offer to be made by a licensed broker or dealer, the offer shall be deemed to be
made on behalf of Purchaser by one or more registered brokers or dealers
licensed under the laws of such jurisdiction.
Notice of Offer to Purchase for Cash
All Outstanding Shares of Common Stock
(Including the Associated Stock Purchase Rights)
of
Splash Technology Holdings, Inc.
at
$10.00 Net Per Share
by
Vancouver Acquisition Corp.,
a wholly owned subsidiary
of
Electronics For Imaging, Inc.
Purchaser is offering to purchase all the issued and outstanding shares and
the associated rights issued pursuant to the Rights Agreement, dated as of
January 27, 1999, between Splash and BankBoston, N.A., as rights agent, for
$10.00 per share (and the associated stock purchase right), net to the seller in
cash, less any required withholding taxes, and without interest, upon the terms
and subject to the conditions set forth in the Offer to Purchase, dated
September 14, 2000, and in the related Letter of Transmittal.
--------------------------------------------------------------------------------
The Offer and Withdrawal Rights Will Expire at 5:00 p.m., New York City Time,
on Friday, October 13, 2000, Unless the Offer is Extended
--------------------------------------------------------------------------------
Purchaser is not obligated to purchase any tendered shares, unless, after
the purchase of tendered shares, Purchaser would own at least a majority of the
outstanding shares on a fully diluted basis. The offer is conditioned upon,
among other things, any applicable waiting period under the U.S. antitrust laws
having expired or been terminated prior to the expiration of the offer. The
offer is not conditioned upon receipt of any financing.
The offer is being made pursuant to an Agreement and Plan of Merger, dated
as of August 30, 2000, by and among EFI, Purchaser and Splash. The merger
agreement provides, among other things, that as promptly as practicable after
the purchase of the shares pursuant to the offer and the satisfaction or, if
permissible, waiver of the other conditions set forth in the merger agreement
and in accordance with the relevant provisions of Delaware law, Purchaser will
be merged with and into Splash, and Splash will continue as the surviving
corporation and will be a wholly owned subsidiary of EFI. At the effective time
of the merger and without any action on the part of the holder thereof, each
share issued and outstanding immediately prior to the effective time of the
merger (other than shares owned by Splash as treasury stock or shares held by
EFI, Purchaser or any subsidiary of EFI or of Splash, and other than shares held
by stockholders who have demanded appraisal and have neither withdrawn nor lost
the right to such appraisal under Delaware law, if any) will be converted into
the right to receive $10.00 (or any higher price that may be paid per share in
the offer) net in cash, less any required withholding taxes, without interest,
upon surrender of
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the certificate representing such share. Persons, who hold shares as capital
assets and whose shares are purchased in the offer, will generally recognize
gain or loss for federal income tax purposes equal to the difference between
such holders' adjusted tax basis in the shares tendered and the amount of they
receive in the offer.
SPLASH'S BOARD OF DIRECTORS UNANIMOUSLY DETERMINED THAT THE MERGER
AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY IT, INCLUDING THE OFFER AND THE
MERGER, ARE FAIR TO AND IN THE BEST INTERESTS OF, SPLASH AND THE HOLDERS OF THE
SHARES, APPROVED AND ADOPTED THE MERGER AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED BY IT, AND RECOMMENDS THAT THE HOLDERS OF SHARES ACCEPT THE OFFER
AND TENDER THEIR SHARES PURSUANT TO THE OFFER.
For purposes of the offer, Purchaser will be deemed to have accepted for
payment (and thereby purchased) shares validly tendered and not properly
withdrawn as, if and when Purchaser gives oral or written notice to Wilmington
Trust Company (the "Depositary") of Purchaser's acceptance for payment of such
shares pursuant to the offer. Upon the terms and subject to the conditions of
the offer, payment for shares accepted for payment pursuant to the offer will be
made by deposit of the purchase price therefor with the Depositary, which will
act as agent for tendering stockholders for the purpose of receiving payments
from Purchaser and transmitting such payments to tendering stockholders whose
shares have been accepted for payment. Under no circumstances will interest on
the purchase price for shares be paid, regardless of any delay in making such
payment. In all cases, payment for shares tendered and accepted for payment
pursuant to the offer will be made only after timely receipt by the Depositary
of (1) the certificates evidencing such shares or timely confirmation of a book-
entry transfer of such shares into the Depositary's account at The Depositary
Trust Company ("DTC") transfer facility pursuant to the procedure set forth in
Section 3 of the Offer to Purchase, (2) the Letter of Transmittal (or a manually
signed facsimile thereof), properly completed and duly executed, with any
required signature guarantees or an Agent's Message (as defined in Section 2 of
the Offer to Purchase) and (3) any other documents required under the Letter of
Transmittal.
Purchaser expressly reserves the right, in its sole discretion (but subject
to the terms and conditions of the merger agreement), at any time and from time
to time, to extend for any reason the period of time during which the offer is
open, including the occurrence of any condition specified in Section 14 of the
Offer to Purchase, by giving oral or written notice of such extension to the
Depositary. Any such extension will be followed as promptly as practicable by
public announcement thereof, such announcement to be made no later than 9:00
a.m., New York City time, on the next business day after the previously
scheduled expiration date of the offer. During any such extension, all shares
previously tendered and not withdrawn will remain subject to the offer and
subject to the right of a tendering stockholder to withdraw such stockholder's
shares.
Shares may be withdrawn at any time prior to 5:00 p.m., New York City time,
on Friday, October 13, 2000 (or the latest time and date at which the offer, if
extended by Purchaser, will expire). For the withdrawal to be effective, a
written or facsimile transmission notice of withdrawal must be timely received
by the Depositary at one of its addresses set forth on the back cover page of
the Offer to Purchase. Any such notice of withdrawal must specify the name of
the person who tendered the shares to be withdrawn, the number of shares to be
withdrawn and the name of the registered holder of such shares, if different
from that of the person who tendered such Shares. If certificates representing
shares to be withdrawn have been delivered or otherwise identified to the
Depositary, then, prior to the physical release of such certificates, the serial
numbers shown on such certificates must be submitted to the Depositary and the
signature(s) on the notice of withdrawal must be guaranteed by an eligible
institution (as described in Section 3 of the Offer to Purchase), unless such
shares have been tendered for the account of an eligible institution. If shares
have been tendered pursuant to the procedure for book-entry transfer as set
forth in Section 3 of the Offer to Purchase, any notice of withdrawal must
specify the name and number of the account at DTC to be credited with the
withdrawn shares. All questions as to the form and validity (including the time
of receipt) of any notice of withdrawal will be determined by Purchaser, in its
sole discretion, which determination will be final and binding.
Rule 14d-11 under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), permits Purchaser, subject to certain conditions, to provide a
subsequent offering period following the expiration of the offer on the then
applicable expiration date. A subsequent offering period is an additional
period of time from three business days to 20 business days in length, beginning
after Purchaser purchases shares tendered in the offer, during which
stockholders may tender, but not withdraw, the shares and receive the offer
consideration. Under the terms of the merger agreement, Purchaser may (but is
not obligated to) provide for a subsequent offering period. During a subsequent
offering period, Purchaser will promptly purchase and pay for all shares
tendered at the same price paid
2
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in offer. If Purchaser elects to provide a subsequent offering period, Purchaser
will notify stockholders consistent with the requirements of the Securities and
Exchange Commission.
The information required to be disclosed by Rule 14d-6(d)(1) of the
Exchange Act is contained in the Offer to Purchase and is incorporated herein by
reference.
Splash has provided Purchaser with Splash's stockholder list and security
position listings, including the most recent list of names, addresses and
security positions of non-objecting beneficial owners in the possession of
Splash, for the purpose of disseminating the offer to holders of shares. The
Offer to Purchase and the related Letter of Transmittal will be mailed to record
holders of shares whose names appear on Splash's stockholder lists and will be
furnished, for subsequent transmittal to beneficial owners of shares, to
brokers, dealers, commercial banks, trust companies and similar persons whose
names, or the names of whose nominees, appear on the stockholder list or, if
applicable, who are listed as participants in a clearing agency's security
position listing.
THE OFFER TO PURCHASE AND THE RELATED LETTER OF TRANSMITTAL CONTAIN
IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY IN THEIR ENTIRETY BEFORE
ANY DECISION IS MADE WITH RESPECT TO THE OFFER.
Questions and requests for assistance or for additional copies of the Offer
to Purchase and the related Letter of Transmittal and other tender offer
materials may be directed to the Information Agent as set forth below, and
copies will be furnished promptly at Purchaser's expense. No fees or commissions
will be paid to brokers, dealers or other persons (other than the Information
Agent and the Depositary) for soliciting tenders of shares pursuant to the
offer.
The Depositary of the offer is:
[LOGO OF WILMINGTON TRUST COMPANY]
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By Hand/Overnight Courier: By Facsimile Transmission: By Mail:
(302) 651-1079
Wilmington Trust Company Corporate Trust Operations
1105 North Market Street, First Floor Confirm by Telephone: Wilmington Trust Company
Wilmington, Delaware 19801 (302) 651-8869 P.O. Box 8861
Attn: Corporate Trust Operations Wilmington, Delaware 19899-8861
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The Information Agent for the offer is:
[LOGO OF MACKENZIE PARTNERS, INC.]
156 Fifth Avenue
New York, New York 10010
call collect (212) 929-5500
or
toll-free (800) 322-2885
September 14, 2000
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