PROACTIS Holdings PLC Result of Hubwoo Tender Offer (4817H)
March 13 2018 - 3:00AM
UK Regulatory
TIDMPHD
RNS Number : 4817H
PROACTIS Holdings PLC
13 March 2018
Date: 13 March 2018
On behalf of: PROACTIS Holdings PLC ("Proactis"
the "Company" or the "Group")
Embargoed until: 0700hrs
PROACTIS Holdings PLC
Announcement Regarding Result of Tender Offer for Hubwoo
S.A.
PROACTIS Holdings PLC, the global Spend Control and eProcurement
solution provider, is pleased to announce the result of the Tender
Offer for the remaining issued share capital of Hubwoo S.A.
("Hubwoo"), details of which were announced on 18 January 2018.
In accordance with the result of the Tender Offer for Hubwoo
shares published by the French Financial Markets Authority
("Autorité des Marchés Financiers") on 12 March 2018, Perfect
Commerce SA (a wholly owned subsidiary of Proactis Holdings PLC)
purchased 13,037,628 Hubwoo shares representing 9.56% of the issued
share capital and total voting rights of Hubwoo.
Proactis Holding PLC is now beneficially interested in
120,681,033 Hubwoo shares representing 88.51% of the total issued
share capital and total voting rights of Hubwoo.
Tim Sykes, CFO commented:
"The result of the Tender Offer represents an excellent outcome
for the Group and is well beyond our expectations that were formed
at the time of the acquisition of Perfect Commerce LLC on 4 August
2017. We look forward to continuing to work with the Hubwoo board
and the remaining minority shareholders of Hubwoo."
For further information, please contact:
PROACTIS Holdings PLC
Hamp Wall, Chief Executive Via Redleaf Communications
Officer
Tim Sykes, Chief Financial
Officer
Redleaf Communications
Elisabeth Cowell
Fiona Norman 020 3757 6880
finnCap Limited
Corporate Finance
Stuart Andrews 0207 220 0500
Carl Holmes
Emily Watts
Corporate Broking
Stephen Norcross
Notes to Editors:
PROACTIS creates, sells and maintains software and services
which enable organisations to streamline, control and monitor all
internal and external expenditure other than payroll. Its solutions
are used in approximately 1,000 buying organisations around the
world from the commercial, public and not-for-profit sectors.
PROACTIS is head quartered in London and floated on the AIM
market of the London Stock Exchange in June 2006.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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