Brief: Appen Responds To ASX Price Query

Innodata

12/03/2024 08:12

March 12 (Reuters) - Appen Ltd  APX.AX :
    * RESPONSE TO ASX PRICE QUERY
    * HAS ENGAGED ON CONFIDENTIAL BASIS WITH VARIOUS PARTIES WHO
HAVE
EXPRESSED AN INTEREST IN SOME OR ALL OF APPEN'S BUSINESS
    * CURRENTLY SEEKING TO UNDERSTAND POTENTIAL VALUE TO APPEN
SHAREHOLDERS FROM PROPOSED COMBINATION
    * INDICATIVE PROPOSAL CONTEMPLATES OFFER CONSIDERATION OF
A$0.70
WORTH OF INNODATA SHARES PER APPEN SHARE
    * AGREED TO A LIMITED EXCHANGE OF NON-PUBLIC INFORMATION ON
BOTH
BUSINESSES TO OCCUR, ON A NON-EXCLUSIVE BASIS
    * NO CERTAINTY THAT INDICATIVE PROPOSAL WILL RESULT IN A
BINDING
PROPOSAL FOR CO
    * APPOINTED BARRENJOEY AND ALLENS TO ASSIST IT WITH ITS
ASSESSMENT
OF INDICATIVE PROPOSAL


Further company coverage:  APX.AX