MAK Capital Group Commences Solicitation Seeking Shareholder Approval To Increase Stake In Agilysys

Ohio State Statue Requires Shareholder Approval To Increase Its Stake

Jan 25, 2010, 17:44 ET from MAK Capital Fund LP

NEW YORK Jan. 25 /PRNewswire/ -- MAK Capital Fund LP and Paloma International L.P., the parent of Sunrise Partners Limited Partnership, and other related entities (collectively, the "MAK Group"), that collectively own approximately 19.1% of the shares of Agilysys, Inc. ("Agilysys" or the "Company") (NasdaqGS: AGYS), today began sending out proxy materials to fellow shareholders to solicit proxies in connection with the special meeting of the Agilysys shareholders to be held on February 18, 2010 at the Company's principal executive offices at 28925 Fountain Parkway, Solon, Ohio 44139.  At the special meeting, the Agilysys shareholders will be asked, as required by Ohio law, to authorize the MAK Group to acquire additional shares of Agilysys to increase their stake in the Company to 20% or more but less than 33 1/3% under Ohio law.  Shareholders of record on January 15, 2010 will be entitled to vote at the meeting.  The Company has publicly stated that it is not making a recommendation for or against the MAK Group's proposal to increase its stake.    

A copy of the MAK Group's final proxy statement is available at www.sec.gov or at www.ourmaterials.com/MAK.  If Agilysys shareholders have any questions, or need further information, please contact the MAK Group's proxy solicitor, MacKenzie Partners, Inc., toll-free at 800-322-2885.

SOURCE MAK Capital Fund LP