Brief: Q-Free Gets Non-Binding Proposal From U.S.-based Co

Q-Free ASA

04/05/2021 20:04

May 5 (Reuters) - Q-Free ASA  QFR.OL :
    * Q-FREE: RECEIPT OF NON-BINDING PROPOSAL
    * Q-FREE- BOARD OF Q-FREE ON 4 MAY RECEIVED A NON -BINDING
PROPOSAL REGARDING POTENTIAL OFFER FOR 100% OF SHARES IN Q-FREE
ASA FROM A US-BASED COMPANY
    * PROPOSAL INDICATES OFFER PRICE EQUAL TO NOK 14.40 PER
Q-FREE
SHARE, WITH 60% CONSIDERATION IN SHARES IN BUYER AND 40% CASH
CONSIDERATION
    * BOARD SEES NO REASON TO PURSUE NON-BINDING PROPOSAL
FURTHER AT
THIS STAGE AS TRANSACTION CANNOT BE IMPLEMENTED ON PROPOSED
TERMS
    * BOARD HAS INVESTIGATED WHETHER Q-FREE'S LARGEST
SHAREHOLDER
WOULD BE INTERESTED IN ACCEPTING A POSSIBLE BID ON PROPOSED
TERMS
    * LARGEST SHAREHOLDER, RIEBER & SØN AS, IS NOT WILLING TO
SELL
THEIR SHARES ON PROPOSED CONSIDERATION STRUCTURE AND TERMS

Source text for Eikon:  ID:nObiGRv0za 
Further company coverage:  QFR.OL 

 ((Reuters.Briefs@thomsonreuters.com;))