Brief: Believe Invites Warner Music Group To Submit Binding Offer

Believe SA

25/03/2024 07:53

March 25 (Reuters) - Believe SA  BLV.PA :
    * PRESS RELEASE OF BELIEVE'S BOARD OF DIRECTORS
    * BELIEVE HAS NOTED POSITION OF AMF IN ITS 22 MARCH 2024
LETTER TO
CHAIRPERSON OF BELIEVE AD-HOC COMMITTEE
    * IN ITS PRESS RELEASE DATED 7 MARCH 2024, WARNER MUSIC
GROUP
("WMG") HAD PUBLICLY ANNOUNCED ITS INTEREST WITH RESPECT TO A
POTENTIAL COMBINATION OF WMG AND BELIEVE, WHERE WMG COULD VALUE
BELIEVE AT A PRICE OF AT LEAST EUR 17 PER SHARE, COUPON ATTACHED
    * IN LIGHT OF THIS SET OF CIRCUMSTANCES, BOD OF BELIEVE
(WITH ONLY
ITS INDEPENDENT BOARD MEMBERS PARTICIPATING IN DELIBERATION AND
IN VOTE) HAS DETERMINED TO INVITE WMG TO SUBMIT A BINDING,
UNCONDITIONAL AND FULLY FINANCED OFFER ("BINDING OFFER") FOR
BELIEVE
    * HAS AGREED TO PROVIDE WMG WITH ACCESS TO A DATA ROOM
INCLUDING A
LEVEL OF INFORMATION CONSISTENT WITH INFORMATION PROVIDED TO
CONSORTIUM, SUBJECT TO APPROPRIATE CONFIDENTIALITY UNDERTAKING
    * BOARD OF DIRECTORS HAS REQUESTED THAT WMG SUBMITS ITS
BINDING
OFFER NO LATER THAN 7 APRIL 2024

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