Reminder of approaching deadline for the acceptance of the voluntary recommended public takeover offer by Visma for the shares in Penneo
Company Release no. 2/2025
Copenhagen, Denmark, 15 January 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
On 29 November 2024, Visma Danmark Holding A/S ("Visma" or the "Offeror") announced a voluntary recommended public takeover offer to purchase all of the issued and outstanding shares (excluding treasury shares) in Penneo A/S ("Penneo") at a price of DKK 16.5 per share (the "Offer"). Reference is made to Company Release no. 19/2024.
On 19 December 2024, Visma published the offer document relating to the Offer approved by the Danish Financial Supervisory Authority, including acceptance forms. On the same date Penneo published the statement by Penneo's board of directors pursuant to section 22 of the Danish Takeover Order in connection with the Offer. Reference is made to Company Release no. 20/2024.
The offer period expires on 21 January 2025 at 23:59 (CET) (the "Offer Period"). If you wish to accept the Offer, the Offer must be accepted in due time to allow your custodian bank or other account holding institution to process and communicate your acceptance to the settlement agent before expiry of the Offer Period.
The offer document and the board statement can, subject to certain restrictions, be viewed and downloaded at https://penneo.com/investors/.
The board of directors of Penneo wishes to reiterate its recommendation of the Offer set out in the board statement of 19 December 2024.
Visma reserves the right to extend the Offer Period, from time to time, in accordance with the terms and conditions of the Offer and the Danish Executive Order on Takeover Offers as set forth in the offer document.
How to accept the Offer
If you wish to accept the Offer from Visma, the offer document contains a description of how to do that. You will often be able to accept the Offer in one of the ways described below, but your bank or other account holding institution (such as Nordnet, Saxo, etc.) holding your shares may have other acceptance requirements. In such case, please contact your bank or account holding institution.
- Accept the Offer digitally (requires a Danish bank and digital ID)
- Most Danish banks allow submission of acceptance using digital signature (MitID) through online banking (netbank). Please contact your bank for further information.
- Accept the Offer in writing
- Download the offer document from Penneo's website (https://penneo.com/investors/) (subject to certain restrictions).
- Print Acceptance Form A (appendix 1).
- Complete the acceptance form and submit it to your bank.
- Accept the Offer with no internet access or access to a printer
- Please contact your bank for support.
If you accept the Offer, transaction costs and tax consequences may vary for each shareholder, depending on account holding institution, jurisdiction, nature of the shareholder or other circumstances.
Warrantholders will receive information directly on how to accept the Offer.