SAP France to Implement Squeeze-Out of Business Objects Securities
11 Febbraio 2008 - 8:09PM
PR Newswire (US)
WALLDORF, Germany and PARIS, Feb. 11 /PRNewswire-FirstCall/ -- SAP
France S.A. ("SAP France") and SAP AG (NYSE:SAP) ("SAP") announced
today that on February 18, 2008 SAP France, which as of February 8,
2008 owned 95.49% of Business Objects S.A. (NASDAQ:BOBJ) (Euronext
Paris ISIN code: FR0004026250 - BOB) ("Business Objects"), will
acquire the Business Objects securities that it does not already
directly or indirectly own through a squeeze-out procedure with
respect to the remaining publicly held shares and bonds convertible
or exchangeable into new or existing shares ("ORNANEs"). In total,
SAP France will acquire through the squeeze-out 2,861,724 shares
representing 2.77% of the share capital and voting rights of
Business Objects and 25,000 ORNANEs representing 0.23% of the
outstanding ORNANEs. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050310/SFTH009LOGO-a) The
French Autorite des marches financiers ("AMF") published today the
timetable for the squeeze-out. On February 18, 2008, Business
Objects shares and ORNANEs will be delisted from Euronext and all
remaining minority interests, with the exception of treasury shares
held by Business Objects and 23,849 shares subscribed for by
minority shareholders through a plan d'epargne entreprise
(company-sponsored employee savings plan), will cease to have an
equity interest in Business Objects. Business Objects intends to
request that Business Objects American depositary shares ("ADSs")
be delisted from NASDAQ on February 19, 2008. Holders of Business
Objects shares and ORNANEs subject to the squeeze-out will be
entitled to receive consideration in the amount of euro 42.00 per
share and euro 50.65 per ORNANE, respectively. Holders of ADSs will
be entitled to receive consideration in the amount of the U.S.
dollar equivalent of euro 42.00 per ADS, less any amount payable by
the holder to the depositary of the ADR program. Business Objects
shares and ORNANEs subject to the squeeze-out will be transferred
to SAP France on February 18, 2008. The total amount required for
payment for the securities will be deposited by SAP France, net of
fees, on such date in a blocked account opened for such purpose
with BNP Paribas Securities Services, which will centralize the
payment process. After the closing of individual bank accounts by
Euroclear France, the account-holding institutions will credit the
accounts of Business Object security holders with the payment owed
to them. Any amounts for which the beneficiary is unknown will be
retained by BNP Paribas Securities Services for a period of 10
years from the effective date of the squeeze-out. At the expiration
of the 10-year period, any unclaimed amounts will be paid over to
the Caisse des Depots et Consignations and will be held on behalf
of the beneficiaries for their disposal. As a result of the
squeeze-out, on February 18, 2008, SAP France will own, directly or
indirectly, 100% of the share capital and voting rights of Business
Objects, less the 23,849 shares subscribed through the plan
d'epargne entreprise. About SAP SAP is the world's leading provider
of business software*. Today, more than 46,100 customers in more
than 120 countries run SAP(R) applications -- from distinct
solutions addressing the needs of small businesses and midsize
companies to suite offerings for global organizations. Powered by
the SAP NetWeaver(R) technology platform to drive innovation and
enable business change, SAP software helps enterprises of all sizes
around the world improve customer relationships, enhance partner
collaboration and create efficiencies across their supply chains
and business operations. SAP solution portfolios support the unique
business processes of more than 25 industries, including high tech,
retail, financial services, healthcare and the public sector. With
subsidiaries in more than 50 countries, the company is listed on
several exchanges, including the Frankfurt stock exchange and NYSE
under the symbol "SAP." (Additional information at
http://www.sap.com/) (*) SAP defines business software as
comprising enterprise resource planning and related applications
such as supply chain management, customer relationship management,
product life-cycle management and supplier relationship management.
Any statements contained in this document that are not historical
facts are forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Words such as
"anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "may," "plan," "project," "predict," "should" and "will"
and similar expressions as they relate to SAP are intended to
identify such forward-looking statements. SAP undertakes no
obligation to publicly update or revise any forward-looking
statements. All forward-looking statements are subject to various
risks and uncertainties that could cause actual results to differ
materially from expectations The factors that could affect SAP's
future financial results are discussed more fully in SAP's filings
with the U.S. Securities and Exchange Commission ("SEC"), including
SAP's most recent Annual Report on Form 20-F filed with the SEC.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates.
Copyright (C) 2007 SAP AG. All rights reserved. SAP, R/3, mySAP,
mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and
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several other countries all over the world. All other product and
service names mentioned are the trademarks of their respective
companies. Data contained in this document serve informational
purposes only. National product specifications may vary. For more
information, press only: Christoph Liedtke, +49 6227 7-50383, , CET
Frank Hartmann, +49 (6227) 7-42548, , CET Andy Kendzie, +1 202
312-3919, , EST For more information, financial community only:
Stefan Gruber, +49 (6227) 7-44872, , CET Martin Cohen, +1 (212)
653-9619, , EST
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(6227) 7-42548, , or EST, Andy Kendzie, +1-202-312-3919, , or
financial community, CET, Stefan Gruber, +49 (6227) 7-44872, , or
EST, Martin Cohen, +1-212-653-9619, , all of SAP AG Web site:
http://www.sap.com/
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