DGAP-News

ADVA Optical Networking SE: ADVA's management board and supervisory board recommend shareholders tender their shares into ADTRAN offer

DGAP-News: ADVA Optical Networking SE / Key word(s): Takeover/Statement ADVA Optical Networking SE: ADVA's management board and supervisory board recommend shareholders tender their shares into ADTRAN offer 23.11.2021 / 23:11 The issuer is solely responsible for the content of this announcement. ADVA's management board and supervisory board recommend shareholders tender their shares into ADTRAN offer

Munich, Germany. November 23, 2021. ADVA (FSE: ADV) today announced that its management board and supervisory board have issued a joint reasoned statement pursuant to Section 27 of the German Takeover Act in respect of the offer document published by ADTRAN, Inc's subsidiary Acorn HoldCo, Inc. on November 12, 2021. Following a due process of review, they recommend to the shareholders of ADVA to accept the aforementioned offer.

The members of the management board and supervisory board are of the opinion that the consideration offered is appropriate and fair and in the best interest of ADVA and its shareholders.

"We're looking forward to the planned business combination with ADTRAN and are confident that our shareholders will embrace this wonderful opportunity to create an innovation leader in the most exciting market space of our industry," said Brian Protiva, CEO, ADVA. "We're in the early stages of an unprecedented investment cycle in fiber expansion with the goal to deliver high-speed connectivity to all homes, businesses and the future 5G infrastructure. This expansion of the digital infrastructure requires new, innovative solutions at the network edge. Together with ADTRAN, we're creating an industry leader in this space that offers the most comprehensive and unique portfolio of solutions based on openness, scalability, security and software-controlled automation."

The joint statement issued by the management board and supervisory board can be accessed online in the company's transaction section. It's available in German and as a non-binding English translation. Only the German original shall be applicable and binding. Shareholders are recommended to read the joint statement and to consider its content as well as their personal situation in making their decision on whether they would like to accept the offer.