EANS-Adhoc
S&T AG cancels Letter of Intent with Cloudeeva Inc
--------------------------------------------------------------------------------
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Mergers - Acquisitions - Takeovers
25.02.2014
Linz, 25.02.2014. S&T AG has withdrawn from the Letter of Intent
concluded with Cloudeeva Inc., San Ramon, California 94583, USA. The
objectives of the Letter of Intent included the issuance of a
voluntary offer. It would have been made to the shareholders of S&T
AG. This would have been linked to the provision of support to
Cloudeeva Inc. by S&T AG.
Cloudeeva Inc. announced on 22.01.2014 that it had concluded the due
diligence of S&T AG's business, tax and legal situations, and that
this process had yielded positive results.
The Letter of Intent also foresaw Cloudeeva Inc.'s submission or
publication by 20.02.2014 of documents detailing how the issuance of
a voluntary takeover could proceed as planned - or how it could at
all be made. Cloudeeva Inc.'s non-fulfillment up to now of this
agreement caused S&T AG today to cancel this Letter of Intent. The
latter thus adhered to the term of termination, in doing such.
Independent of this cancellation both parties stated that they may
proceed with further negotiations in the future.
About S&T AG: S&T AG (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is listed
on the Prime Standard segment of the Frankfurt Stock Exchange. The
company has some 1,500 employees and offices in 19 countries in
Central and Eastern Europe. These provide the company's extensive
portfolio of products and services - many of them featuring
proprietary technologies - throughout this region. These assets make
S&T one of the largest suppliers of IT systems in Eastern Europe.
Further inquiry note:
ir@snt.at; +431801911125;
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: S&T AG
Industriezeile 35
A-4021 Linz
phone: +43 664 6119214
FAX: +43 1 80191 1290
mail: ir@snt.at
WWW: www.snt.at
sector: Computing & Information Technology
ISIN: AT0000A0E9W5, DE000A1HJLL6
indexes:
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Mergers - Acquisitions - Takeovers
25.02.2014
Linz, 25.02.2014. S&T AG has withdrawn from the Letter of Intent
concluded with Cloudeeva Inc., San Ramon, California 94583, USA. The
objectives of the Letter of Intent included the issuance of a
voluntary offer. It would have been made to the shareholders of S&T
AG. This would have been linked to the provision of support to
Cloudeeva Inc. by S&T AG.
Cloudeeva Inc. announced on 22.01.2014 that it had concluded the due
diligence of S&T AG's business, tax and legal situations, and that
this process had yielded positive results.
The Letter of Intent also foresaw Cloudeeva Inc.'s submission or
publication by 20.02.2014 of documents detailing how the issuance of
a voluntary takeover could proceed as planned - or how it could at
all be made. Cloudeeva Inc.'s non-fulfillment up to now of this
agreement caused S&T AG today to cancel this Letter of Intent. The
latter thus adhered to the term of termination, in doing such.
Independent of this cancellation both parties stated that they may
proceed with further negotiations in the future.
About S&T AG: S&T AG (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is listed
on the Prime Standard segment of the Frankfurt Stock Exchange. The
company has some 1,500 employees and offices in 19 countries in
Central and Eastern Europe. These provide the company's extensive
portfolio of products and services - many of them featuring
proprietary technologies - throughout this region. These assets make
S&T one of the largest suppliers of IT systems in Eastern Europe.
Further inquiry note:
ir@snt.at; +431801911125;
end of announcement euro adhoc
--------------------------------------------------------------------------------
issuer: S&T AG
Industriezeile 35
A-4021 Linz
phone: +43 664 6119214
FAX: +43 1 80191 1290
mail: ir@snt.at
WWW: www.snt.at
sector: Computing & Information Technology
ISIN: AT0000A0E9W5, DE000A1HJLL6
indexes:
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
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