The Board of Directors of HiQ has decided to unanimously recommend the shareholders of HiQ to accept Triton's, through
Background
This statement is made by the Board of Directors (the "Board") of
Triton Fund V ("Triton"), through
Today,
Further information concerning the Offer is available in Triton's bid press release from
As a part of the Board's assessment of the Offer, the Board has also engaged Öhrlings
The Board's recommendation
The Board bases its view of the Offer on an evaluation of a number of factors that the Board has deemed relevant in their assessment of the Offer. These factors include, but are not limited to, HiQ's current standing, HiQ's expected future development and potential as well as related opportunities and risks.
The Board concludes that the Offer of
In the assessment of the Offer, the Board has considered the Fairness Opinion by PwC, according to which the Offer is deemed fair for HiQ's shareholders from a financial perspective, based on the assumptions and considerations included in the statement.
Against this background, the Board unanimously recommends the shareholders of HiQ to accept the Offer.
According to the Takeover Rules, the Board shall, based on what Triton, through Trisall, has stated in the announcement of the Offer, provide its understanding of the effect that the execution of the Offer will have on HiQ, particularly with regards to employment, and its understanding of Triton's strategic plans for HiQ and the subsequent effects these could have on employment and the locations in which HiQ operates its business.
Triton, through Trisall, has expressed the following concerning the employees and management group in HiQ:
"As it enters the next phase of growth supported by Triton, HiQ's unique culture is fundamental in creating a Northern European leader. Triton will assist HiQ's managers and employees to cement its position as an attractive employer by supporting implementation of programs for personal and professional development, career opportunities, as well as training. These measures will apply to existing and new hires; in line with Triton's desire to launch a new growth phase. In addition to the above, Triton does not expect that the Offer will have any significant effects for HiQ's employees, their terms of employment or employment at those sites where HiQ conducts its business today."
The Board assumes that this description is correct and therefore does not see any reason to have a different perception in the relevant matters.
This statement shall, in all respects, be subject to and interpreted in accordance with Swedish law. Disputes in connection with this statement shall exclusively be decided in a Swedish court of law.
In order to allow persons discharging managerial responsibilities to accept the public Offer during the acceptance period (according to the prohibition on trading according to the EU Market Abuse Regulation), the Board has decided to postpone the interim report for January -
The Board of Directors
For more information, please contact:
Erik Ridman, Director of Communications HiQ, Phone: +46 (0)70 420 00 01, E-mail: erik.ridman@hiq.se
This information is information that
HiQ helps to make the world a better place by making people's lives simpler through technology, design and communication. We are the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ has close to 1,500 specialists in four countries and is listed on the Nasdaq Stockholm Mid Cap list. For more information and inspiration, please visit www.hiq.se
https://news.cision.com/hiq-international/r/statement-from-the-board-of-directors-of-hiq-in-response-to-triton-s-revised-public-takeover-bid,c3194103
https://mb.cision.com/Main/450/3194103/1306303.pdf
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