Rite Ventures' mandatory tender offer for Lemonsoft begins on March 27

Translation: Original published in Finnish on 3/19/2026 at 6:30 am EET.

Rite Ventures has announced a mandatory tender offer for all Lemonsoft shares at a price of 4.67 euros per share. The offer is an anticipated formal step following Rite Ventures' previously announced exceeding the stake threshold (50%), which triggered the obligation under the Securities Markets Act to make a mandatory tender offer for the remaining shares. We still consider the offer price to be very modest relative to Lemonsoft's long-term earnings potential and fundamentals, and we do not believe it will attract a large number of shareholders. We have previously commented on the tender offer here.

No takeover through tender offer

Rite Ventures' ownership in Lemonsoft increased to 50.56% through share transactions on March 6, 2026, triggering an obligation under the Securities Markets Act to make a mandatory public tender offer for the remaining shares. The offer period is expected to begin on March 27, 2026, and end on May 5, 2026. The completion of the tender offer is not expected to affect Lemonsoft's operational business, management, or employee status. Rite Ventures has been the company's anchor owner since 2016, and increasing their ownership reflects their commitment to the company's long-term strategy.

Rite Ventures' goal is not to delist Lemonsoft, and the intention is for trading in the share on Nasdaq First North to continue as before. Since the company's founder and board member Kari Joki-Hollanti (26.17% ownership) has irrevocably committed not to accept the offer, the arrangement is not expected to result in a redemption right or obligation under the Limited Liability Companies Act.