NEW YORK, April 8, 2019 /PRNewswire/ -- BNN Technology PLC
("BNN") today announced that it has further extended the expiration
date of its previously announced tender offer to purchase up to
1,953,423 shares of the common stock of MICT, Inc. (NASDAQ: MICT)
("MICT") at a purchase price of $1.65
per share, net to the seller, in cash. The tender offer is being
made in accordance with the acquisition agreement, dated as of
December 18, 2018, between BNN, MICT
and other parties thereto (the "Acquisition Agreement"). As
amended, the tender offer will now expire at 5:00 p.m. EDT, on Monday,
April 29, 2019, unless further extended or earlier
terminated.
Continental Stock Transfer & Trust Company, the depositary
for the tender offer, has advised BNN that, as of 4:00 p.m., EDT, on Monday,
April 8, 2019, an aggregate of 5,406,926 shares of common
stock were properly tendered and not properly withdrawn. MICT's
stockholders who have already tendered their shares of common stock
of MICT do not need to re-tender their shares or take any other
action as a result of the extension of the expiration date of the
tender offer. MICT's stockholders may withdraw shares they have
previously tendered at any time prior to the extended expiration
date of the tender offer.
Complete terms and conditions of the tender offer can be found
in the Offer to Purchase, the related Letter of Transmittal and
certain other materials filed with the U.S. Securities and Exchange
Commission ("SEC") on February 5,
2019, and available at www.sec.gov. Except as described in
this news release, the terms of the tender offer remain the same as
set forth in the Offer to Purchase and in the related Letter of
Transmittal.
Copies of the Offer to Purchase, the related Letter of
Transmittal and other materials related to the tender offer may be
obtained for free from the information agent, Morrow Sodali LLC, at
(800) 662-5200. Banks and brokers may call the information agent at
(203) 658-9400. The depositary for the tender offer is Continental
Stock Transfer & Trust Company.
About BNN Technology PLC
BNN Technology PLC is a Chinese technology, content and services
company that builds long-term partnerships to deliver China's citizens with value-added services,
content and evolving opportunities. BNN principally engages in
providing technology to partners to facilitate fulfilment of
payments online and on mobile apps through partnerships or
affiliate agreements and, developing digital content, both online
and mobile. BNN works with its strategic partner Xinhuatong to
facilitate mobile payments and other key services on the Xinhua
News mobile app in 12 provinces in China. BNN's technology platform enables urban
and rural communities across China
to access exclusive content and pay for more services online.
Additional Information and Where to Find It
This communication is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
any shares of MICT or any other securities. A Tender Offer
Statement on Schedule TO, including an Offer to Purchase, the
related Letter of Transmittal and certain other materials, has been
filed with the SEC by BNN. The tender offer will only be made
pursuant to the Offer to Purchase, the related Letter of
Transmittal and the other documents filed as a part of the Schedule
TO.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ BOTH THE TENDER
OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE RELATED
LETTER OF TRANSMITTAL AND THE OTHER TENDER OFFER MATERIALS) AND THE
SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 FILED BY
MICT REGARDING THE OFFER, IN EACH CASE, AS THEY MAY BE AMENDED FROM
TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION WHICH
SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT
TO THE TENDER OFFER. INVESTORS AND SECURITY HOLDERS MAY OBTAIN A
FREE COPY OF THESE STATEMENTS AND OTHER DOCUMENTS FILED WITH THE
SEC AT THE WEBSITE MAINTAINED BY THE SEC AT WWW.SEC.GOV OR BY
DIRECTING SUCH REQUESTS TO THE INFORMATION AGENT FOR THE TENDER
OFFER.
Forward Looking Statements
Certain statements contained in this press release are
forward-looking statements and are based on future expectations,
plans and prospects that involve a number of risks and
uncertainties. Forward looking statements can be identified by use
of words such as "believe," "intend," "expect," "potential,"
"will," "may," "should," "estimate," "anticipate" and derivatives
or negatives of such words or similar words. The forward-looking
statements and other information in this release are made as of the
date hereof and are subject to risks and uncertainties, including
whether the conditions to the tender offer will be satisfied, the
number of shares of MICT common stock that will be tendered, the
possibility that competing offers will be made, whether the tender
offer will be consummated and risks related to the transactions
contemplated by the Acquisition Agreement. Stockholders and
investors are cautioned that the occurrence of any of these risks
or uncertainties may cause actual results to differ materially from
those contemplated, expressed, projected, anticipated or implied in
the forward-looking statements. New factors may emerge from time to
time, and it is not possible for BNN to predict new factors, nor
can BNN assess the potential effect of any new factors on it. BNN
undertakes no obligation (nor does it intend) to publicly
supplement, update or revise such statements on a going-forward
basis, whether as a result of subsequent developments, changed
expectations or otherwise, except as required by law.
Contact:
Morrow Sodali LLC
470 West Avenue
Stamford, CT 06902
Tel: (800) 662-5200 or banks and brokers can call (203)
658-9400
Email: MICT.info@morrowsodali.com
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SOURCE BNN Technology PLC