Brief: Efecte Makes Voluntary Public Tender Offer For Inteliwise

Efecte Oyj

27/05/2022 07:47

May 27 (Reuters) - Efecte Oyj  EFECTE.HE :
    * EFECTE PLC HAS MADE A VOLUNTARY PUBLIC TENDER OFFER FOR
ALL
SHARES IN INTELIWISE S.A.
    * TO TENDER ALL THEIR SHARES IN INTELIWISE TO EFECTE FOR A
CONSIDERATION OF PLN 3.99 (APPROXIMATELY EUR 0.87) IN CASH PER
SHARE
    * TOTAL VALUE OF OFFER BASED ON ALL 6 858 915 SHARES IN
INTELIWISE
AMOUNTS TO APPROXIMATELY PLN 27.4 MILLION (APPROXIMATELY EUR 5.9
MILLION)
    * WHILE OUR GUIDANCE FOR 2022 REMAINS UNCHANGED, THERE WOULD
OBVIOUSLY BE A POSITIVE IMPACT ON OUR SAAS GROWTH
    * LARGEST SHAREHOLDERS OF INTELIWISE REPRESENTING
APPROXIMATELY
66.3 % OF ALL SHARES AND VOTING RIGHTS HAVE IRREVOCABLY
UNDERTAKEN TO ACCEPT VOLUNTARY TENDER OFFER
    * BUILDING ON SALES AND OTHER SYNERGIES, WE EXPECT THAT EPS
IMPACT
OF PLANNED ACQUISITION WOULD BECOME POSITIVE TOWARDS END OF 2023
    * OFFER CONSIDERATION REPRESENTS A PREMIUM OF 85.6 PERCENT
COMPARED TO CLOSING PRICE OF PLN 2.15 (APPROXIMATELY EUR 0.47)
OF INTELIWISE'S SHARE ON NEW CONNECT ON LAST DAY OF TRADING
BEFORE ANNOUNCEMENT OF OFFER
    * WHILE OUR GUIDANCE FOR 2022 REMAINS UNCHANGED, THERE WOULD
OBVIOUSLY BE A POSITIVE IMPACT ON OUR SAAS GROWTH
    * SUBSCRIPTION PERIOD FOR OFFER COMMENCES ON OR ABOUT 30 MAY
2022
AND IS EXPECTED TO END ON OR ABOUT 29 JUNE 2022
    * INTELIWISE'S UNAUDITED NET SALES IN 2021 WAS PLN 4.3
MILLION
(APPROXIMATELY EUR 0.9 MILLION), EBITDA WAS PLN 0.2 MILLION
(APPROXIMATELY EUR 0.1 MILLION)
    * WILL FINANCE ACQUISITION FULLY BY CASH

Source text for Eikon:  ID:nGNEccRmN1 
Further company coverage:  EFECTE.HE 

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