PROACTIS Holdings PLC Result of Hubwoo Tender Offer (4817H)

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

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March 13, 2018 03:00 ET (07:00 GMT)