Brief: Appen Says It Got Non-Binding Indicative Proposal From Telus International

TELUS International (CDA)

25/05/2022 23:45

May 26 (Reuters) - Appen Ltd  APX.AX :
    * RECEIVED AN UNSOLICITED, CONDITIONAL AND NON-BINDING
INDICATIVE
PROPOSAL FROM TELUS INTERNATIONAL
    * INDICATIVE CASH OFFER PRICE OF A$9.50 PER SHARE
    * PROPOSAL SUBJECT TO SEVERAL CONDITIONS, INCLUDING APPEN
BOARD
UNANIMOUSLY RECOMMENDING PROPOSAL (ADDS DROPPED WORDS)
    * AS AT 30 APRIL 2022, APPEN'S YEAR-TO-DATE REVENUE IS LOWER
THAN
IT WAS AT THIS TIME LAST YEAR
    * EXPECTS 1H FY22 EBITDA TO BE MATERIALLY LOWER THAN PRIOR
CORRESPONDING PERIOD
    * SEES FY22 REVENUE TO EXHIBIT A GREATER SKEW TO 2H THAN
FY21
    * BOARD IS IN DISCUSSIONS WITH TELUS TO SEEK AN IMPROVEMENT
IN
TERMS OF THE INDICATIVE PROPOSAL

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