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CXENSE - Cxense ASA News Story

NOK15.75 0.0  0.0%

Last Trade - 10/10/19

Sector
Technology
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £14.6m
Position in Universe th / 1794

BRIEF-Cxense Recommends Cash Offer From Piano Software

Mon 5th August, 2019 6:08am
Aug 5 (Reuters) - Cxense ASA  CXEN.OL :
    * THE BOARD OF DIRECTORS OF CXENSE ASA UNANIMOUSLY
RECOMMENDS A
VOLUNTARY CASH OFFER FROM PIANO SOFTWARE, INC. TO ACQUIRE ALL OF
THE SHARES OF CXENSE.
    * CONSIDERATION OFFERED WILL BE NOK 16.00 IN CASH PER CXENSE
SHARE
    * OFFER PRICE REPRESENTS A PREMIUM OF APPROXIMATELY 205% AND
186%
COMPARED TO 30-DAY AND 90-DAY VOLUME WEIGHTED AVERAGE SHARE
PRICE
    * SHAREHOLDERS REPRESENTING ABOUT 53.6% OF SHARE CAPITAL OF
CXENSE, HAVE UNDERTAKEN TO ACCEPT VOLUNTARY OFFER FOR THEIR
SHARES
    * OFFER PRICE VALUES TOTAL SHARE CAPITAL OF CXENSE AT
APPROXIMATELY NOK 351 MILLION.
    * PIANO AND CXENSE HAVE ENTERED INTO A TRANSACTION AGREEMENT
REGARDING AN ACQUISITION OF CXENSE BY OFFEROR
    * BOARD OF DIRECTORS OF CXENSE IS OF VIEW THAT AN ACCEPTANCE
OF
VOLUNTARY OFFER IS IN BEST INTEREST OF CXENSE'S SHAREHOLDERS
    * NO MATERIAL ADVERSE CHANGE IN CXENSE UNTIL COMPLETION OF
VOLUNTARY OFFER

Source text for Eikon:  ID:nWkrc0CgzK 
Further company coverage:  CXEN.OL 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))
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