DNV is still extending the offer period for Nixu’s purchase offer

DNV, a global provider of quality assurance and risk management services, has moved on from providing cyber security services From Nixus the offer period of its purchase offer until June 5, 2023, Nixus is told.

On February 28, 2023, DNV commenced a voluntary recommended public cash tender offer for all issued and outstanding shares of Nixu not held by Nixu or any of its subsidiaries and for all issued and outstanding warrants of Nixu.

The original end date of the purchase offer was 4/17/2023 at 4:00 p.m. On April 5, 2023, the Offeror announced that it has decided to extend the tender offer period until May 3, 2023 at 4:00 p.m., and again extended the tender offer period until today, May 22, 2023 at 4:00 p.m.

One of the conditions to the completion of the tender offer is the receipt of the necessary approvals from regulatory authorities as set forth in its terms, including approvals under applicable foreign direct investment laws.

According to the release, the approval process for foreign direct investments in Finland is still pending and DNV cannot implement a purchase offer before receiving approval. Based on the available information and discussions with the Ministry of Employment and the Economy, DNV believes that all the conditions for obtaining approval have been met and that the approval will be obtained as soon as possible once the Ministry of Employment and the Economy completes its internal approval process.

Pending approval, DNV has decided to further extend the offer period of the purchase offer until June 5, 2023 at 4:00 p.m., unless the offer period is further extended or the extended offer period is interrupted in accordance with the terms of the purchase offer and applicable laws and regulations. The tenderer estimates that approval will be obtained from the Ministry of Labor and the Economy within the now extended tender period.

The tenderer will inform the Ministry of Labor and the Economy about further updates regarding the approval as soon as possible. The purchase offer is still expected to be implemented during the second quarter of 2023.

According to the release, shareholders who have already accepted the purchase offer for the Nixu shares and/or option rights they own do not need to accept the Purchase Offer again or take any other actions due to the extension of the offer period.

Source: Arvopaperi by www.arvopaperi.fi.

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