Exhibit (a)(5)(i)
INVENSYS EXTENDS DEADLINE FOR BAAN OFFER
ANNOUNCES RESULTS OF ACCEPTANCES RECEIVED
Invensys plc today announces that it is extending the deadline for its
offer to acquire Baan Company NV, until 3pm Amsterdam (9am New York City
time) time on Tuesday 25 July 2000.
The cash offer of Euro 2.85 per share is not being increased and the 95%
acceptance condition is not being waived. All other conditions have already
been met. At this time, Invensys is not accepting those shares that have
already been tendered.
To date, Invensys has received acceptances or has purchased a total of 58%
of Baan, represented by acceptances for 89 million shares (33%) and
purchases of 66 million shares (25%).
Failure to accept this Offer increases the likelihood that the remaining
condition of the Offer will not be met and Baan will therefore be left to
face a difficult and uncertain future.
Invensys urges all remaining shareholders to follow the recommendations of
Baan's Management and Supervisory Boards and accept the Offer without
delay.
* * * * * *
Baan shareholders should read Invensys' formal Offer to purchase, which
sets forth the terms and conditions of the Offer and provides instructions
as to what Baan shareholders must do to tender their shares. The Offer
documentation also includes a Dutch language summary of the Offer and
questions and answers relating to the Offer. The Offer documentation is
available on the Baan web-site (www.baan.com). In addition, Baan
shareholders may obtain copies of these documents by calling the custodian,
bank or broker through which they hold their shares, or by calling D.F.
King & Co., Inc., the information agent for the Offer (in USA and Canada,
call (800) 848-3409; all others call collect (1 212 269-5550).
