ReadSoft: Cash offer from Hyland Software UK

Regulatory News:

Hyland Software UK Ltd. (”Hyland UK”), a company controlled by Hyland Software, Inc. (”Hyland”), has today 18 June 2014 announced a cash offer to the shareholders of ReadSoft AB (publ) (”ReadSoft”) (STO:RSOFB) to transfer all shares in ReadSoft to Hyland UK at a price of SEK 42.86 in cash per share in ReadSoft (the "Offer”).

Hyland UK has stated that an offer document is expected to be made public shortly before the commencement of the acceptance period around 11 July 2014. Further, Hyland UK has stated that the acceptance period is expected to end around 5 September 2014. 

It follows from Hyland UK’s press release that shareholders in ReadSoft, together holding 934,254 class B shares, corresponding to about 3.1 per cent of all outstanding shares in ReadSoft, have pursuant to agreements with Hyland UK, unconditionally and irrevocably undertaken to accept the Offer.

ReadSoft’s board of directors intends to not later than two weeks prior to the expiry of the acceptance period announce its opinion of the Offer, and reasons for this opinion.

On 6 May 2014, Lexmark International Technology, S.A. (”Lexmark International Technology”), a company controlled by Lexmark International Inc., announced a public cash offer to the shareholders of ReadSoft of SEK 40.05 per share. The acceptance period for Lexmark International Technology’s offer commenced on Friday 23 May 2014 and ends on Monday 23 June 2014.

Information on the terms and conditions for Lexmark International Technology’s offer may be found in the offer document made public by Lexmark International Technology on 21 May 2014. The offer document also includes the transaction agreement entered into between ReadSoft and Lexmark International Technology comprising certain provisions regarding competing bids. 

This is information of the type that ReadSoft AB (publ) is obligated to disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on June 18, 2014 at 17:10 CET.

About ReadSoft.

ReadSoft simplifies business for organizations of all sizes with applications for business processes such as accounts payable automation (http://www.readsoft.com/solutions/by-department/accounts-payable-automation), accounts receivable (http://www.readsoft.com/solutions/automation-for-sap/accounts-receivable), sales order processing (http://www.readsoft.com/solutions/automation-for-sap/sales-order-processing-sap), and multichannel mailroom automation. (http://www.readsoft.com/solutions/document-process-automation/mailroom-automation) Its on-premises and cloud document process automation solutions (http://www.readsoft.com/solutions/document-process-automation/mailroom-automation) enable some of the world’s largest corporations as well as small and medium businesses to compete and thrive in today’s environment by improving customer and supplier satisfaction, increasing operating efficiency, and providing greater visibility into business processes. ReadSoft is the world’s number one choice for invoice processing automation (http://www.readsoft.com/solutions/document-process-automation/invoice-processing), and its applications integrate seamlessly with ERP systems from SAP (http://www.readsoft.com/solutions/automation-for-sap/sales-order-processing-sap), Oracle (http://www.readsoft.com/solutions/automation-for-oracle-e-business-suite), Microsoft (http://www.readsoft.com/solutions/document-process-automation/invoice-processing-for-microsoft-dynamics), as well as with many other business systems. Since 1991, the company has grown into a worldwide group, delivering industry expertise and support in 17 countries on six continents through its local and global partner network. ReadSoft is headquartered in Helsingborg, Sweden, and its share is traded on the NASDAQ OMX Stockholm’s Small Cap list. Visit www.readsoft.com.

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