20 April 2020

RIB share EUR 29.00 offer ends in less than 60 hours!

RIB Software SE points out that the Acceptance Period ends on Wednesday 22 April 2020. By this date the minimum acceptance threshold of 50% (plus one RIB share) must be reached. If this is not the case, the Offer at EUR 29.00 per RIB Share would have failed.

 

- Acceptance Period expires on Wednesday 22 April 2020

- Acceptance rate is so far at just under 32.5%

Stuttgart, Germany, 20 April 2020. RIB Software SE points out that the acceptance period for Schneider Electric's Voluntary Public Takeover Offer expires on 22 April 2020 (24.00 hrs CEST). The minimum acceptance threshold must be reached by this date.

The Bidder has made the completion of the Offer subject to, inter alia, reaching a minimum acceptance threshold of 50% (plus one RIB Share) of all RIB Shares issued at the end of the Acceptance Period (including RIB Shares held by RIB as treasury shares) plus 934,649 RIB Shares issued under the RIB Stock Option Plans (as further described in Section 12.1.1 of the Offer Document). For purposes of the minimum acceptance threshold, the acceptance rate as of 17. April 2020 (14.00 hrs CEST) is only 32.47%.

The offer price of EUR 29.00 offers a premium of over 40% over the closing price of the RIB-Shares one day before the announcement of the transaction. Since then, the SDAX and the TecDAX, in which the RIB-Shares have been included, have lost 22.2% and 12.5% respectively, mainly due to the Corona crisis.

Acceptance of the Offer during the Additional Acceptance Period is only possible if the minimum acceptance threshold has been reached by the end of the Acceptance Period, i.e. by 22 April 2020 (24.00 hrs CEST). If this is not the case, the Offer cannot be accepted anymore.

The Managing Directors and the administrative board of RIB recommend that shareholders wishing to accept Schneider Electric's offer do so without delay, as the current corona crisis may cause delays in the banking-related processing of acceptance declarations. If the minimum acceptance threshold is not reached by the end of the acceptance period, there will be no Additional Acceptance Period. The Offer at EUR 29.00 per RIB Share would then have finally failed and the takeover would not take place.

Further information you will fin on our website.

About RIB Group

RIB Software SE is an innovator in the building and construction industry. The company develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB's flagship cloud-based platform, provides the world's first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experiences in the construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and bringing in new thinking, new working methods and new technologies to enhance construction productivity. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 2,700 talents in more than 25 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21^st century