Brief: EROAD Receives Unsolicited, Non-Binding Indicative Proposal

Constellation Software

22/06/2023 01:29

June 22 (Reuters) - EROAD  ERD.NZ :
    * RECEIVES UNSOLICITED, NON-BINDING INDICATIVE PROPOSAL
    * RECEIVED AN UNSOLICITED, NON-BINDING INDICATIVE PROPOSAL
FROM
BRILLIAN APAC PTY LTD PART OF VOLARIS GROUP
    * VOLARIS IS SEEKING TO ACQUIRE 100% OF EROAD'S SHARES AT A
PROPOSED PRICE OF NZ$1.30 PER SHARE IN CASH
    * NO CERTAINTY THAT NBIO OR STRATEGIC REVIEW WILL RESULT IN
ANY
TRANSACTION
    * BOARD OF DIRECTORS HAS COMMENCED  PROCESS TO CONSIDER NBIO
ALONGSIDE ITS ADVISORS
    * VOLARIS HAS DISCLOSED IT HAS ACQUIRED INTEREST OF 17.734%
OF
EROAD'S SHARES ON ISSUE


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