SDRC Board Adopts New Shareholder Rights Plan
7 August 1998
SDRC Board Adopts New Shareholder Rights Plan
CINCINNATI--Aug. 6, 1998--Structural Dynamics Research Corporation announced today that the Company's board of directors has approved a new shareholder rights plan to replace the plan that will expire on August 10, 1998. The new plan contains provisions that are similar to those in the previous plan. Under the new plan, a dividend of one right will be distributed for each share of SDRC common stock outstanding at the close of business on August 10, 1998.Initially, the rights are attached to SDRC's common shares and do not become exercisable unless a person or group acquires 20% or more of SDRC's common shares or announces a tender or exchange offer which, upon consummation, would result in a person or group owning 20% or more of SDRC's common shares. The new rights are redeemable at a price of $.01 per right and will expire on August 10, 2008.
The plan was not adopted in response to any specific threat to acquire control of SDRC, and the board is not aware of any such activity.
SDRC is a leading international supplier of Mechanical Design Automation and Testing software, Product Data Management software, and related services. The Company's products and services help manufacturers optimize product concepts early in the design process, enabling them to significantly improve product quality while reducing product development time and cost. SDRC employs more than 2,200 people and has 64 offices in 16 countries throughout North America, Europe and the Asia/Pacific region.
Note to Editors: SDRC is a registered trademark of Structural Dynamics Research Corporation.