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Beta Systems Software AG publishes response to public takeover offer by Delta Beteiligungen AG
Berlin (ots) -
- Purchase consideration deemed inappropriate by Management Board
and Supervisory Board; shareholders recommended not to accept
The Management Board and Supervisory Board of Beta Systems
Software AG (BSS, ISIN DE0005224406) have today published their joint
response to the public takeover offer put forward by Delta
Beteiligungen AG on February 22, 2006, in accordance with Section
27(1) of the Securities Acquisition and Takeover Act
(Wertpapiererwerbs- und Übernahmegesetz).
Based on an extensive assessment of the takeover offer and subsequent discussion, the Management Board and Supervisory Board are of the opinion that the purchase consideration put forward is not appropriate. Therefore, both the Management Board and the Supervisory Board recommend that shareholders of Beta Systems Software Aktiengesellschaft should not accept the offer. The Management Board and Supervisory Board members with a shareholding in Beta Systems have announced that they will be rejecting the offer for all Beta Systems shares currently held by them.
The full text of the joint response was published today on http://www.betasystems.com as well as in the form of an announcement in the Börsen-Zeitung; the document has also been retained for subsequent free-of-charge distribution by Beta Systems Software Aktiengesellschaft.
On February 22, 2006, Delta Beteiligungen Aktiengesellschaft, Heidelberg, put forward an unsolicited public takeover offer to Beta Systems shareholders for the purpose of acquiring their shares in Beta Systems for a consideration of 1.75 Delta Beteiligungen shares with a dividend entitlement from January 1, 2005, and an additional cash offer of ¤ 1.50 for each Beta Systems share. The offer document was presented to the Management Board of Beta Systems on the same day.
End of announcement
About Beta Systems Software AG, Berlin, Germany
Beta Systems Software AG (Deutsche Boerse - Prime Standard: BSS, ISIN DE0005224406) is a leading supplier of infrastructure software for enterprise critical applications for the automation and protection of business processes. Beta Systems provides software in the following areas: Identity Management (IdM), Enterprise Content Management (ECM) and Data Center Infrastructure (DCI). All Beta Systems' solutions are able to manage high-volumes of information and throughput. They secure business critical data and help achieve compliance by addressing regulatory requirements. The ECM product range includes scanners and sorters from Kleindienst - a brand owned by Beta Systems Software AG.
Beta Systems has been listed on Deutsche Boerse (German stock exchange) since 1997 and employs 700 people. The company has 17 subsidiaries worldwide, as well as numerous business partners. Beta Systems' worldwide customer base comprises more than 1,000 customers including IT service providers and large organizations from the fields of finance and insurance, manufacturing, commerce, telecommunications, logistics and energy supply, along with public sector organizations. For further information please visit: www.betasystems.com.
Company Contact: Beta Systems Software AG Arne Baßler Corporate Communication Tel.: +49 (0)30 726 118-170 Fax: +49 (0)30 726 118-881 E-mail: email@example.com