Public proposal for Byte Computer by Ideal Holdings – Ideal’s EGM for AMK on 7/25

LAST UPDATE 19:39

IDEAL HOLDINGS SA announced today the submission of an optional public offer to all shareholders of BYTE COMPUTER ABEE

The Offeror started the process of the Public Offer on 1.7.2022 by informing the Capital Market Commission (“EC”) and the Board of Directors of the company and by submitting the draft of the information sheet to the above persons.

Through the Public Offer, the Offeror commits and undertakes to acquire all the Shares of the Public Offer, i.e. a maximum number of 15,816,009 Shares, which correspond to 100% of the paid-up share capital and voting rights of the company, if offered the Minimum Number of Shares and the relevant denominations have been paid.

The exchange

The Offeror offers, in return, a combination of securities and cash.

In particular, the Offeror offers for each validly tendered and transferred Share of the Public Offer, an amount of €2.10 in cash plus 0.397590 new common registered shares of the Offeror, (collectively the “Offered Consideration”), which will be issued pursuant to an increase share capital of the Proposer.

In particular, there will be a share capital increase (after convening an Extraordinary General Meeting of the company on 7/25) in an amount of up to €2,515,317.20, with the issuance of up to 6,288,293 new common registered, with voting rights, shares with a nominal value of € 0.40 and a disposal price of €4.15 each, in the context of which, in accordance with article 26 par. 1 of Law 4548/2018, and in the absence of a contrary provision in the Proposer’s articles of association, there will be no right of preference in favor of existing shareholders of the Offeror, as the entire new share capital will be covered by a contribution in kind of Shares in favor of the Company’s Shareholders, who will have validly accepted the Public Offer based on the exchange ratio of 0.397590 new share of the Offeror for one Share of the Public Offer .

Byte: There are no major shareholder negotiations

For its part, Byte Computer, in response to a related question from the Athens Stock Exchange, notes in its announcement that “there are no negotiations between the main shareholders for the sale of the Company’s shares.

Following today’s information from the Capital Market Commission regarding the submission of an Optional Public Offer by IDEAL HOLDINGS S.A. for the purchase of all of the Company’s shares, the Company assures that it will act in accordance with the obligations imposed by applicable law,” the company states, adding:

“In view of the protection and more complete information of the investing public, the Company assures that in the event that an event occurs, the publication of which is reasonably expected to affect the price of its shares, it will immediately publish it itself, in accordance with the established her tactics.”

See the full announcement, as well as the invitation to Ideal’s EGM in the right column “Related Files”