64297 Darmstadt, de
+49 (6151) 92-1146
The domination and profit transfer agreement between Software AG and IDS Scheer AG now registered
The agreement was approved at an extraordinary general meeting of IDS Scheer AG on January 8th, 2010. No objections were filed by February 8th, 2010, allowing the agreement to be filed on the commercial register. Currently, the Software AG Group holds more than 91 percent of the equity shares of IDS Scheer AG. The remaining minority shareholders now have the right to compensation of €15.10 per share as stated in the agreement. The cash settlement offer will be published shortly. IDS Scheer shareholders will be addressed by their custodians and informed about the offer and settlement procedures.
Independently of this action, Software AG intends to complete the takeover of IDS Scheer AG through a merger. As part of this merger process, the remaining minority shareholders will receive Software AG shares in exchange for their shares if IDS Scheer. For this reason, Software AG is currently buying back up to 400,000 of its own shares on the open market. Software AG expects that the full acquisition will be completed by the end of this year.
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