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2019-09-27 17:18:08
We refer to the offer document dated 12 August 2019 (the "Offer Document") for
the voluntary offer (the "Offer") presented by Piano Software B.V. ("Piano" or
the "Offeror") for all the outstanding shares in Cxense ASA ("Cxense") and the
announcements made by Piano on 10, 17 and 24 September 2019, respectively,
regarding extensions of the acceptance period for the Offer by a total of three
weeks.
Piano hereby announces that the financing condition as included in the Offer
Document section 4.3 (b) has been fulfilled and that Piano has sufficient
financing to fund the Offer. Piano further announces that the Offer is now
unconditional, meaning that any remaining conditions included in the Offer
Document section 4.3 are either fulfilled or waived by Piano.
No further extensions of the Offer will be made, meaning that the Offer will
expire on Tuesday 1 October 2019 at 16:30 CEST.
The settlement of the Offer is expected to be conducted on Wednesday 2 October
2019 and the tendering shareholders should expect to receive payment of the cash
consideration for the shares settled on or about Thursday 3 October 2019.
Piano has, shortly before the time of release of this announcement, received
acceptances of the Offer for a total of 20,373,652 of the 21,946,519 shares in
Cxense, equal to 92.83 percent of the outstanding shares.
The Offeror intends to resolve a compulsory acquisition of all shares in Cxense
not already owned by the Offeror as soon as possible after settlement of the
Offer and well within the four-week deadline for the compulsory acquisition, cf.
the Norwegian Securities Trading Act section 6-22 (3).
The complete details of the Offer, including all terms and conditions, are
contained in the Offer Document which has been sent to Cxense's shareholders and
is also available at https://newsweb.oslobors.no/.
DNB Bank ASA, Securities Services, is the receiving agent. For questions
regarding acceptance of the Offer, please contact: DNB Bank ASA, Securities
Services, tel. +47 23 26 80 20, and filled-in acceptance forms for the Offer are
sent to e-mail: retail@dnb.no.
For further information, please contact:
Piano
Trevor Kaufman, CEO, Piano Software, Inc.
Phone: +1 646 350 1999
Cxense
Lars B. Thoresen, Chairman of the Board of Directors, Cxense ASA
Phone: +47 957 07 494
Christian Printzell Halvorsen, CEO, Cxense ASA
Phone: +47 992 29 546
About Cxense:
Cxense helps publishers and marketers across the globe to transform their raw
data into their most valuable resource. Cxense's leading Data Management
Platform (DMP) with Intelligent Personalization, gives companies unprecedented
insight into their individual customers, and enables them to action this insight
real-time in all marketing and sales channels. Cxense Conversion Engine empowers
publishers to monetize insight into their audience's behaviour and preferences
in order to increase subscription revenues. Cxense works with brands such as The
Wall Street Journal, Aeon, Grupo Clarin, NBC, The Mainichi Newspapers,
Universal, Singapore Press Holdings and many more. Cxense is headquartered in
Norway with offices worldwide and the company is listed on the Oslo Stock
Exchange with the ticker “CXENSE”.
About Piano:
Piano, a company with operations in New York, London, and Amsterdam, offers
high-performance cloud-based software and strategic services that empower
companies to create customized digital experiences and commercial relationships
for their users. Leading businesses around the world including Hearst,
NBCUniversal, Business Insider, The Economist, Harvard Business Review, Le
Parisien, Ringier Axel Springer, Prometheus, Mansueto, The Associated Press, and
over 150 other leading organizations use Piano to power their subscription,
registration, analytics, entitlement, and personalization efforts. The company
is one of Inc’s 500 Fastest Growing Companies in North America, one of Red
Herring’s Top 100 Startups in North America, and has won Digiday, CODIE, and
numerous other awards for its innovative suite of software products.