Progress Software Corp. No Intention to Make an Offer for MariaDB plc
Progress Software Corp. (Nasdaq: PRGS) has announced that it will not be making an offer for MariaDB plc, confirming their compliance with Rule 2.8 of the Irish Takeover Rules. Progress reserves the right to reconsider this decision within the next 6 months if permitted under the rules. This announcement marks Progress's clear stance on their intentions regarding potential offers.
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STATEMENT OF NO INTENTION TO MAKE AN OFFER (RULE 2.8 ANNOUNCEMENT)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 (THE "TAKEOVER RULES").
BURLINGTON, Mass., May 02, 2024 (GLOBE NEWSWIRE) -- Progress Software Corp. (”Progress”) (Nasdaq: PRGS) confirms today that it does not intend to make an offer for MariaDB plc. Accordingly, Progress will be bound by the restrictions set out in Rule 2.8 of the Irish Takeover Rules. Progress reserves the right within the next 6 months to set aside this statement where so permitted under Rule 2.8 (including Rule 2.8(c)(ii)).
This announcement is intended to be treated as a statement to which Rule 2.8 of the Irish Takeover Rules applies.
Enquiries
| Progress | ||
| Investors: Michael Micciche | +1 781-850-8450 | Investor-Relations@progress.com |
| Media: Erica McShane | +1 781-280-4000 | PR@progress.com |
| Europa Partners (Financial Advisor to Progress) | ||
| Jan Skarbek | +44 20 7451 4542 | |
| Dominic King | ||
About Progress
Progress (Nasdaq: PRGS) provides software that enables organizations to develop and deploy their mission-critical applications and experiences, as well as effectively manage their data platforms, cloud and IT infrastructure. As an experienced, trusted provider, we make the lives of technology professionals easier. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.
Responsibility statement
The Progress board of directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Progress board of directors (who have taken all reasonable care to ensure that such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Important notice relating to financial advisor
Europa Partners Limited (“Europa”), which is authorised by the Prudential Regulation Authority (“PRA”) and regulated by the Financial Conduct Authority (“FCA”) and the PRA in the United Kingdom, is acting exclusively for Progress and for no one else in connection with the Possible Offer and will not be responsible to anyone other than Progress for providing the protections afforded to its clients or for providing advice in connection with the Possible Offer. Neither Europa, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Europa in connection with the Possible Offer, this announcement, any statement contained herein or otherwise.
Publication on Website
In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this announcement will be available on Progress’ website: www.progress.com promptly and in any event by no later than 12:00 p.m. (New York time) on the business day following this announcement. The content of this website is not incorporated into and does not form part of this announcement.
FAQ
Is Progress Software Corp. planning to make an offer for MariaDB plc?
What rules govern Progress Software Corp.'s decision regarding offers?
Can Progress Software Corp. change its decision in the future?
