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Software AG, Rocket Software and Silver Lake all declined to comment. SdK's Schmidt plans to ask management whether all offers were discussed and assessed adequately in advance. Tour EUROPLAZA SOFTWARE AG - 12me tage Software. London-based Schroders, the company's largest outside shareholder which owns 8%, said Silver Lake's offer "materially undervalues the company". Contact Details Software AG London House SAG Deutschland GmbH. JanFoe + Get alerts for Jan-Henrik Foerster Technology-focused private equity firm Silver Lake has agreed to invest 344 million euros (388 million) in Germany’s Software AG. Group product revenue growth was 2 percent or 1 percent at constant currency to 169.8 million (Q1 2022: 166.9) million).
This represented growth of 2 percent, both, as stated and at constant currency. Software AG has faced criticism from shareholders over its handling of the sales process. Software AG reported 210.6 million in total revenue in the first quarter (Q1 2022: 206.0 million). "A possible delisting would be a hard cut for private investors, some of whom have been invested for many years," said lawyer Wolfgang Schaerfe, who will represent shareholder association DSW at the AGM.
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He said it seemed the meeting's topics, such as a reduced dividend and suggestion for future AGMs to be held only virtually, were a step to forcing the remaining free shareholders out of the company.
"A delisting is a red flag for minority shareholders," said SdK board member Andreas Schmidt. While a vote regarding the delisting is not on the agenda at Wednesday's AGM, investor association SdK said it will vote against related topics, such as the reduced company dividend, to express its disagreement with the Silver Lake plan. Some investors argue that the Silver Lake offer undervalues Software AG and that minorities never fare well in delistings. Software AG has backed the Silver Lake offer despite a higher 34-euro a share non-binding bid coming in from Bain-backed Rocket Software earlier this month. Private equity firm Silver Lake has offered to buy Software AG for 32 euros per share, valuing the German software developer at 2.37 billion euros ($2.61 billion) and said it plans to take the company private. It floated on Frankfurt Stock Exchange in 1999, and in 2007, bought WebMethods, a popular application and process integration platform, at a value of $546 million.FRANKFURT, May 16 (Reuters) - Two associations representing minority investors in Software AG (SOWGn.DE) said they will speak out against suitor Silver Lake's plans to delist the company at a shareholder meeting on Wednesday, on concern about the impact on smaller shareholders. Software AG was founded by six German consultants in 1969, and in its early days mathematician Peter Schnell, a co-founder, developed a transactional database management system called ADABAS (which runs on the UK's Police National Computer, among other things), launched for mainframes in 1971. Is the IT industry short on Cobolers? This could be your lucky day.
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