Open Letter from Clearance Capital to Hoivatilat plc shareholders recommending that you reject the Tender Offer in its current form as it does not fully reflect the value of the Company.
Dear Fellow Hoivatilat plc Shareholders, The funds we manage hold 8.6% of Hoivatilat plc (“Hoivatilat” or the “Company”). Following careful consideration of Aureit Holding Oy's (“Aedifica” or “the Offeror”) voluntary public cash tender offer for the shares in Hoivatilat announced on 4 November 2019 (“Tender Offer”), we have come to the conclusion that the Tender Offer does not reflect the value of the Company and its unique growth prospects. We have, therefore, decided to reject the offer. We urge you to do the same. In reaching our decision, we have reflected on Aedifica’s