Its official

Following the fulfilment of all the conditions precedent on 24 August '05, the scheme of arrangement between Sage Group Limited and its shareholders will become operative on Monday 12 September 2005.

Statement issued by Momentum: "...This means that the Momentum Group, via a wholly owned subsidiary, will acquire all the shares in Sage.

Sage Group will become a wholly owned subsidiary of Momentum on 12 September 2005 and Momentum will assume full management responsibility.

The Sage unit trusts remain open for business until March 2006 and in most instances the only change thereafter would be a change of name to reflect Momentum.

Shareholders will receive the initial payment of 142 cents per share (out of a maximum possible 175 cents) on 12 September 2005. Payment will be either electronically or via the post and the listing of Sage’s shares will be terminated the following day..."