Brief: Sleep Cycle Independent Directors Recommend Shareholders Do Not Accept Public Cash Offer From Velvet Cichlid

Sleep Cycle AB (publ)

28/12/2022 10:39

Dec 28 (Reuters) - Sleep Cycle AB (publ)  SLEEP.ST :
    * INDEPENDENT DIRECTORS OF SLEEP CYCLE UNANIMOUSLY RECOMMEND
THAT
SHAREHOLDERS DO NOT ACCEPT PUBLIC CASH OFFER FROM VELVET CICHLID
    * BDO CORPORATE FINANCE HAS ISSUED VALUATION OPINION
ACCORDING TO
WHICH OFFER IS NOT IS FAIR TO SLEEP CYCLE'S SHAREHOLDERS FROM
FINANCIAL PERSPECTIVE
    * BOARD BELIEVES THAT, DESPITE CURRENT MARKET ENVIRONMENT,
CO HAS
OVERALL PERFORMED IN LINE WITH MARKET EXPECTATIONS SINCE ITS
LISTING
    * BOARD BELIEVES THAT CO IS STILL PERFORMING IN LINE WITH
ITS
STRATEGY OF REACHING MORE USERS WITH MORE FEATURES IN MORE
CHANNELS
    * BOARD BELIEVES THAT CO HAS MADE PROGRESS IN TECHNOLOGY AND
PRODUCT DEVELOPMENT; AND IN ESTABLISHING NEW PARTNERSHIPS
    * BOARD BELIEVES THESE EFFORTS ARE EXPECTED TO RESULT IN
SEVERAL
LAUNCHES IN COMING QUARTERS, WHICH HAVE THE POTENTIAL TO BENEFIT
THE CO'S REVENUES
    * BOARD'S ASSESSMENT IS THEREFORE THAT CO CAN BE EXPECTED TO
DELIVER ON ITS FINANCIAL TARGETS OVER THE COMING YEARS

Source text for Eikon:  ID:nWkr5nyN1w 
Further company coverage:  SLEEP.ST 
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