Visma has published notice of compulsory acquisition of Penneo's shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

With reference to Penneo A/S' ("Penneo") announcement of 27 January 2025 (no. 4/2025) regarding the final result of the all-cash voluntary recommended public takeover offer made by Visma Danmark Holding A/S ("Visma"), Visma has today published a notice of compulsory acquisition of the shares held by the remaining minority shareholders in Penneo in accordance with Sections 70-72 of the Danish Companies Act. The notice has been published in the Danish Business Authority's IT system and made available at: https://penneo.com/investors/.

As set out in the notice, all remaining minority Penneo shareholders are formally requested by Visma to transfer their Penneo shares to Visma within a four-week period expiring on 5 March 2025 at 23:59 (CET). Settlement of the transferred shares will take place after expiry of said four-week period.

The compulsory acquisition of the shares in Penneo will be made on the terms set forth in the compulsory acquisition notice, at a price of DKK 16.5 for each share with a nominal value of DKK 0.02, with payment made in cash.

The board of directors of Penneo notes that the compulsory acquisition is made at the same price per share (DKK 16.5) as was offered to the shareholders in the Offer. The board of directors refers to its statement on the Offer published on 19 December 2024.