Not for Distribution or Release, Directly or Indirectly, in or Into Australia, Canada or Japan or Any Other Jurisdiction in Which the Distribution or Release Would Be Unlawful
Following the announcement on 19 December 2019 to acquire Data Respons, AKKA Technologies SE, European leader in digital engineering consulting and R&D services launches a recommended voluntary cash offer for all of Data Respons’ outstanding shares against a settlement in cash of NOK 48.00 per share.
Reference is made to the approval by the Oslo Stock Exchange of the offer document dated 10 January 2020 (the “Offer Document”) prepared in connection with the Offer.
The shareholders of Data Respons can tender their shares at the conditions of the voluntary recommended offer between January 13th and February 10th 2020.
Erik Langaker, chairman in Data Respons Board of Directors stated: “Following several years of outstanding performance by our management team and organization, we believe that this transaction offers very good value for all shareholders. I am confident of the strong strategic fit, and that AKKA will appreciate the unique culture built by Kenneth and the team over many years. The full Board is of the opinion that a combined group represents great opportunities for both employees and existing customers.”
Kenneth Ragnvaldsen, Data Respons’ CEO added: “The proposed acquisition of Data Respons, by AKKA, gives our team an increased potential for development and the two companies are definitively a good strategic match. We share the same values as well as a passion for innovation, as do AKKA. This transaction will create value for our customers and is an outstanding opportunity to showcase the talent of our fantastic employees, which is the heart, soul and value of our company.”
- The Board of Directors of Data Respons unanimously recommends the Offer, which values the total share capital of Data Respons at approximately NOK 3.7 billion on a fully diluted basis and represents a premium of approximately 20% to the closing price of Data Respons on 18 December 2019, and a premium of 29% and 34% over the 3 and 6-month volume-weighted average share price, respectively.
- Shareholders representing approximately 43% of the shares have given pre-acceptances to the Offer, subject to customary conditions. The complete terms and conditions for the Offer, including procedures for how to accept the Offer and detailed information regarding settlement, are set out in the Offer Document.
- The Offer period commences today Monday 13 January 2020 until Monday 10 February 2020 at 16:30 hours (CET). The Offeror may in its sole discretion extend the offer period (one or several times), but the offer period will in no event be extended beyond 23 March 2020 at 16:30 hours (CET).
The Offer Document, containing the full terms and conditions of the Offer will, subject to regulatory restrictions in certain jurisdictions, be sent today, 13 January 2020, to all shareholders in Data Respons whose address appears in Data Respons share register in the Norwegian Central Securities Depositary (VPS) as per end of 10 January 2020.