Efecte Plc has today published a formal delisting tender offer for all remaining shares in InteliWISE S.A. to enable delisting and squeeze-out

EFECTE PLC  --  COMPANY ANNOUNCEMENT – 16 AUGUST 2022 at 12.15

Efecte Plc has today published a formal delisting tender offer for all remaining shares in InteliWISE S.A. to enable delisting and squeeze-out

THIS COMMUNICATION IS FOR INFORMATION ONLY AND IT IS NOT AN OFFER TO BUY OR SOLICITATION OF OFFERS TO SELL ANY SECURITIES. INFORMATION REGARDING THE OFFER TO THE SHAREHOLDERS OF INTELIWISE S.A. AS ANNOUNCED IN A SEPARATE PRESS RELEASE WILL BE AVAILABLE ONLY TO SHAREHOLDERS IN CERTAIN PERMITTED JURISDICTIONS. THIS ANNOUNCEMENT MAY NOT BE DISTRIBUTED IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA, SWITZERLAND OR THE UNITED STATES.

• Efecte has today published a formal delisting tender offer directed at remaining shareholders of InteliWISE S.A. (“InteliWISE”) to tender all their shares in InteliWISE to Efecte. Purpose of this formal tender offer is to allow delisting of InteliWISE and consequently squeezing out remaining shareholders.
• The remaining shareholders of InteliWISE are offered PLN 3.99 (approximately EUR 0.85) in cash per share in InteliWISE. The subscription period for the Offer commences on or about 17 August 2022 and is expected to end on or about 16 September 2022. Expected settlement date is 26 September 2022.

Efecte announced on 30 June 2022 that by the end of the initial subscription period of the offer announced on 27 May 2022 (“Offer”) it had received subscriptions and will complete the transaction for shares representing 90.03 percent of InteliWISE shares. In addition, Efecte announced that the acceptance period of the Offer was extended until 6 July 2022 (the “Extension Period”).

On 7 July 2022, Efecte announced that it had received in total subscriptions representing 92.55 percent of shares in InteliWISE. In addition, it was announced that Efecte plans to start acquiring shares from the Warsaw NewConnect alternative marketplace at a maximum price of 3.99 zloty per share for a period of approximately one week.

On 20 July Efecte announced its intention to announce a new formal tender offer in mid-August 2022 for all remaining shares in InteliWISE. In addition it was announced, that Efecte holds now altogether 6 407 229 shares, which represent 93.41 percent of all shares in InteliWISE including shares tendered in the Offer and shares acquired directly from the market.

Efecte has today published a formal delisting tender offer directed at remaining shareholders of InteliWISE to tender all their shares in InteliWISE to Efecte for a cash consideration of PLN 3.99 (approximately EUR 0.85) in cash per share (the “Formal Offer”). The subscription period for the Formal Offer commences on or about 17 August 2022 and is expected to end on or about 16 September 2022. Expected settlement date is 26 September 2022.

Completion of the Formal Offer will allow Efecte to delist InteliWISE and squeeze out remaining shareholders regardless of the result of the Formal Offer.

Further inquiries:

Lari Nikkanen
Legal Counsel
[phone]
[e-mail]

Niilo Fredrikson
CEO
[phone]
[e-mail]

Certified Adviser:
Evli Plc, tel [phone]

Efecte Plc

Efecte helps people digitalize and automate their work. Customers across Europe leverage our cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for our solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. We are the European Alternative to the global goliaths in our space. Our headquarters is located in Finland and we have regional hubs in Germany and Sweden. Efecte is listed on the Nasdaq First North Growth Market Finland marketplace.

www.efecte.com