Intershop Communications AG: Management Board welcomes the sustained confidence of its anchor shareholders expressed in the takeover bid

  • Existing major shareholders Shareholder Value Beteiligungen AG and Shareholder Value Management AG intend to make joint voluntary takeover offer to the remaining shareholders
  • Bidders assure Management Board of their continued support of the strategic course of cloud transformation
  • Statement of the Management Board on the Takeover Bid only after publication of the Offer Document on the Voluntary Takeover Offer

Jena, Germany, February 18, 2019 – Shareholder Value Management AG and Shareholder Value Beteiligungen AG, long-standing anchor shareholders of the Company, published their decision on February 15 to make a joint voluntary takeover offer for their shares to the remaining shareholders of Intershop Communications AG (ISIN: DE000A0EPUH1).

The Management Board has taken note of the offer decision and welcomes the confidence expressed by the bidders in the strategic course of the cloud transformation and their commitment to continued engagement with Intershop.

In accordance with the provisions of the German Securities Acquisition and Takeover Act (WpÜG), the Management Board and Supervisory Board of Intershop Communications AG will thoroughly review the Offer Document and comment on its contents after it has been published as permitted by BaFin. The deadline for submitting the Offer Document to BaFin is 4 weeks (possibly extended by up to 8 weeks); the review by BaFin generally requires a further 10 working days. The minimum four-week acceptance period for shareholders begins with the publication of the Offer Document.

Intershop will keep its shareholders informed of further developments and publish its preliminary figures for fiscal year 2018 as planned on Wednesday, February 20, 2019.

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About Intershop

Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.

This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.

Intershop Public Relations

Heide Rausch
Head of Corporate Communication