Basware response to media speculation
Basware Corporation, stock exchange release, November 20, 2018 at 9.45 a.m.
On November 16, 2018, in response to media speculation, Basware confirmed that it had been approached with a non-binding and highly conditional indicative proposal for a possible tender offer for the entire share capital of Basware (the “Indicative Proposal”). As stated in Basware’s stock exchange release of November 16, 2018, the Indicative Proposal is subject to a number of pre-conditions including, but not limited to, securing of appropriate financing, conducting a satisfactory due diligence review and receiving a recommendation from the Board of Directors of Basware. Completion of any such tender offer would in turn be subject to further conditions, including, but not limited to, approval by Basware shareholders holding at least 90% of the shares of Basware and receipt of all necessary regulatory approvals.
In relation to recent further media reports, Basware confirms that the Indicative Proposal was submitted by Tradeshift Holdings Inc. Such further media reports also contain speculation regarding potential premium levels and certain other matters that relate to the Indicative Proposal. However, as Basware has not, among other things, received any confirmation that the financing for the Indicative Proposal is appropriately secured and as there can be no assurance that the Indicative Proposal will result in a tender offer or any transaction or that a tender offer or any transaction would be made at a certain price, Basware will not comment the most recent media reports further.
Basware will release further information at an appropriate time.
Board of Directors
For more information, please contact:
Ben Selby, Head of Investor Relations, Basware Corporation
+358 50 305 8077, email@example.com
Basware (Nasdaq: BAS1V) is the global leader in providing networked source-to-pay solutions, e-invoicing and value added services. Basware’s commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at https://investors.basware.com/en.