Key Developments: Ebix Inc (EBIX.OQ)

EBIX.OQ on NASDAQ Stock Exchange Global Select Market

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19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Ebix Inc declares quarterly dividend
Wednesday, 7 May 2014 12:00pm EDT 

Ebix Inc:Declared a quarterly dividend of 7.5 cents per outstanding share.Payable June 13, to shareholders of record at the close of business on May 30.  Full Article

Ebix Inc risk compliance division signs contract with Walmart
Monday, 5 May 2014 07:32am EDT 

Ebix Inc:Company's Risk Compliance Solutions - RCS Division signs contract with Walmart Canada Corporation to effectively monitor and track certificates of insurance for Walmart.Implementation of contract is presently in process with solution already having been put in production for Walmart a few days back.  Full Article

Ebix Inc extends its relationship with Swiss Re to enhance the next generation life guide manual for underwriters
Monday, 28 Apr 2014 07:30am EDT 

Ebix Inc:Says its A.D.A.M. Health Content Division has extended its relationship with Swiss Re America Holding Corporation to both enhance Swiss Re's renowned evidence-based online manual Life Guide.And expand Swiss Re's already extensive underwriting training capabilities with a new supplementary resource called an online Medical Education and Reference Library.  Full Article

Ebix Inc declares quarterly dividend
Wednesday, 5 Feb 2014 07:30am EST 

Ebix Inc:Says the Board of Directors have declared a quarterly dividend of US$0.075 per outstanding share of the Company's common stock.Says the dividend is payable Mar. 14, to shareholders of record at the close of business on Feb. 20.  Full Article

Ebix Inc's Subsidiary Signs Contract With Thai Insurer To Implement Group Medical Syst
Tuesday, 29 Oct 2013 07:30am EDT 

Ebix Inc announced that its Singapore Subsidiary Company has signed a contract with ThaiRe Services Co. Ltd. (TRS) to implement its group medical system in Thailand. As a part of the contract, Ebix will implement its Group Medical system for TRS while replacing its current TPA system, to enable them to meet the needs of a growing customer base. Ebix Group Medical will enable TRS to have end-to-end claim processing capabilities, while allowing for synchronous interfacing with third party systems and real-time tracking of Medical Benefits Utilizations.  Full Article

Ebix Inc Announces $100 Million Stock Repurchase
Friday, 21 Jun 2013 03:11pm EDT 

Ebix Inc announced its Board of Directors has approved a $100 million common stock repurchase program. Shares of common stock may be purchased under the program from time to time on the open market and in privately negotiated transactions, subject to customary legal, contractual and regulatory considerations. Ebix intends to complete this new $100 million stock repurchase authorization within the next 24 months. The Company will fund the repurchases through cash on hand and future cash flow from operations. Ebix currently has approximately $35.5 million of cash on hand worldwide. During 2012, the Company generated free cash flow of $65.3 million, excluding the cash used to acquire businesses during the year. The decision to authorize this share repurchase program has been made as part of the Company's continuing evaluation of strategic options to enhance value for shareholders.  Full Article

Ebix Inc and Affiliate of Goldman Sachs Agree to Terminate Merger Agreement
Wednesday, 19 Jun 2013 07:25pm EDT 

Ebix Inc announced that it and an affiliate of Goldman, Sachs & Co. ("Goldman Sachs") have agreed to terminate their previously announced merger agreement. The merger agreement, announced on May 1, 2013, had provided for Ebix to be acquired by an affiliate of Goldman Sachs. The decision to terminate the merger agreement was the result of a letter received by the Company on June 14, 2013 from the U.S. Attorney for the Northern District of Georgia that it had opened an investigation into allegations of intentional misconduct that had been brought to its attention from the pending shareholder class action lawsuits against the Company's directors and officers, the media and other sources. The pending shareholder class action lawsuits and an SEC investigation involving the same subject matters as these lawsuits were previously disclosed by the Company in its periodic reports filed with the SEC. The Company has been informed by the office of the U.S. Attorney that their investigation is in its preliminary stages and that it is too early to make a determination of whether any violation of the securities laws or other laws has occurred, or whether any individual or entity could be considered a target, subject or witness in the investigation. The merger agreement is being terminated without payment of a termination fee by either party and each party and certain significant shareholders of the Company.  Full Article

Ebix Inc Board of Directors Under Investigation By Glancy Binkow & Goldberg LLP For Potential Breaches Of Fiduciary Duty
Friday, 3 May 2013 01:37pm EDT 

Glancy Binkow & Goldberg LLP announced that it is investigating potential claims against the Board of Directors ofEbix Inc related to the proposed acquisition of the Company by an affiliate of Goldman, Sachs & Co. The transaction is valued at approximately $820 million or $20 per share. This investigation concerns whether the Board of Directors of Ebix breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.  Full Article

Kahn Swick & Foti, LLC Announces Investigation Of Ebix Inc
Wednesday, 1 May 2013 08:45pm EDT 

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (KSF) announced that KSF has commenced an investigation into the Board of Directors of Ebix Inc in connection with their conduct related to the sale of the Company to an affiliate of Goldman, Sachs & Co. Under the terms of the proposed transaction, shareholders of Ebix will receive $20 in cash for each share of Ebix common stock that they own. KSF's investigation is focusing on whether Ebix and/or its officers and directors secured sufficient value for the shareholders of the Company, violated their fiduciary duties, and/or violated state or federal securities laws.  Full Article

Harwood Feffer LLP Announces Investigation of Ebix Inc
Wednesday, 1 May 2013 07:15pm EDT 

Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Ebix Inc, the proposed acquisition of the Company by an affiliate of Goldman Sachs & Co. in a transaction valued at approximately $743 million. The investigation concerns whether the Ebix board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.  Full Article

Ebix, under pressure from Barington, adds two board nominees

- Software company Ebix Inc, under pressure from Barington Capital Group, added two independent nominees to its board slate, including the activist investor's chief executive.

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