Cegeka and CTG Announce Extension of Tender Offer for All Outstanding Shares of CTG

HASSELT, Belgium/Limburg and BUFFALO, N.Y., Sept. 21, 2023 (GLOBE NEWSWIRE) -- Cegeka Groep NV (“Cegeka”) and Computer Task Group, Incorporated (NASDAQ: CTG) (“CTG”) announced today that Chicago Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of Cegeka, has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding shares of common stock of CTG, par value $0.01 per share (“Shares”), for $10.50 per Share, net to the seller in cash, without interest and less any applicable withholding taxes, pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023, by and among Cegeka, CTG, and Merger Sub (the “Merger Agreement”).

The Offer, which was previously scheduled to expire at one minute after 11:59 P.M., Eastern Time, on September 20, 2023, has been extended until one minute after 11:59 P.M., Eastern Time, on October 13, 2023, unless the Offer is further extended or earlier terminated pursuant to the terms of the Merger Agreement.

Computershare, the depositary for the Offer, has indicated that as of 5:00 p.m., Eastern Time, on September 20, 2023, approximately 11,640,378.197500 Shares had been validly tendered into and not validly withdrawn from the Offer, representing approximately 76.5467% of the outstanding Shares. Shareholders that have previously tendered their Shares do not need to re-tender their Shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated August 23, 2023 (the “Offer to Purchase”), the related Letter of Transmittal and certain other offer documents, copies of which are attached to the Tender Offer Statement on Schedule TO filed by Cegeka and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on August 23, 2023, as each may be amended or supplemented from time to time.

The Offer is conditioned upon the fulfillment of certain conditions described in “The Tender Offer—Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the receipt of approvals from the Belgian Competition Authority and the Luxembourg Supervision Commission of the Financial Sector (the “Regulatory Condition”). The Offer was extended to allow additional time for the satisfaction of the Regulatory Condition and the other conditions described in the Offer to Purchase.