This press release is not an offer, whether directly or indirectly, in Australia, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders not resident in Sweden who wish to accept the Revised Offer (as defined below) must make inquiries concerning applicable legislation and possible tax consequences. Shareholders should refer to the offer restrictions included in the section titled "Important notice" at the end of this press release and in the offer document and the supplement offer document published on Trisall's website (www-invest-to-lead.com). Shareholders in the United States should also refer to the section titled "Special notice to shareholders in the United States" at the end of this press release.

On 26 August 2020, Triton Fund V, through Trisall AB[[1]] ("Trisall"), announced a public offer to the shareholders of HiQ International AB ("HiQ") to tender all their shares in HiQ to Trisall for SEK 70 per share (the "Offer"). The price in the Offer was increased on 15 September 2020 to SEK 72 per share (the "Revised Offer"). At the end of the acceptance period on 1 October 2020 a total of 49,686,320 shares in HiQ, corresponding to approximately 89 per cent[[2]] of the share capital and the voting rights in HiQ, had been tendered in the Revised Offer. Trisall has now resolved to waive the right to increase the price of SEK 72 in the Revised Offer.

Trisall has resolved to waive the right to increase the price of SEK 72 per share in the Revised Offer. By this statement Trisall cannot, in accordance with Nasdaq Stockholm's Takeover rules, increase the price in the Revised Offer. SEK 72 per share is consequently the highest price that will be paid in the Revised Offer.

To provide the remaining shareholders of HiQ who have not tendered their shares time to accept the Revised Offer, the acceptance period was on 5 October 2020 extended until 19 October 2020 at 15:00 (CEST). Settlement for shares tendered during the extended acceptance period will occur at two occasions, with a first settlement estimated to be initiated around 14 October 2020 and a second settlement estimated to be initiated around 22 October 2020. Trisall reserves the right to further extend the acceptance period for the Revised Offer.

Trisall continues to strive towards an ownership of more than 90 per cent and thereafter initiate compulsory redemption of the remaining shares in HiQ as well as promote a de-listing of HiQ's shares from Nasdaq Stockholm.

Trisall may acquire shares in HiQ in the market during the extended acceptance period, however not at a price exceeding the price in the Revised Offer of SEK 72.

Since the Revised Offer is unconditional, shareholders who have accepted the Revised Offer, or shareholders who accept the Revised Offer during the extended acceptance period, have no right to withdraw their acceptances.

Information about the Revised Offer:

For further information about the Offer and the Revised Offer, please refer to the offer document and the supplement offer document which are available on Trisall's website (www.invest-to-lead.com).

For enquiries, please contact:

Fredrik Hazén, Communications Professional, Triton Nordics

Tel: +46 709 483 810, email: hazen.wp@triton-partners.com

For administrative questions regarding the Offer and the Revised Offer, please contact your bank or the nominee registered as holder of your shares.

The information in this press release was submitted for publication on 7 October 2020 at 08:00 a.m. (CEST).

Important notice

This press release has been published in Swedish and English. In the event of any discrepancy in content between the two language versions, the Swedish version shall prevail.

The Offer (which in this section "Important notice" refers to the Offer as well as the Revised Offer) is not being made, directly or indirectly, in or into Australia, Hong Kong, Japan, New Zealand or South Africa by use of mail or any other communication means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the Internet) of interstate or foreign commerce, or of any facility of national securities exchange or other trading venue, of Australia, Hong Kong, Japan, New Zealand or South Africa, and the Offer cannot be accepted by any such use or by such means, instrumentality or facility of, in or from, Australia, Hong Kong, Japan, New Zealand or South Africa. Accordingly, this press release or any documentation relating to the Offer are not being and should not be sent, mailed or otherwise distributed or forwarded in or into Australia, Hong Kong, Japan, New Zealand or South Africa.

This press release is not being, and must not be, sent to shareholders with registered addresses in Australia, Hong Kong, Japan, New Zealand or South Africa. Banks, brokers, dealers and other nominees holding shares for persons in Australia, Hong Kong, Japan, New Zealand or South Africa must not forward this press release or any other document received in connection with the Offer to such persons.

The Offer, the information and documents contained in this press release are not being made and have not been approved by an authorized person for the purposes of section 21 of the UK Financial Services and Markets Act 2000 (the "FSMA"). Accordingly, the information and documents contained in this press release are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of the information and documents contained in this press release is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is a communication by or on behalf of a body corporate which relates to a transaction to acquire day to day control of the affairs of a body corporate; or to acquire 50 per cent or more of the voting shares in a body corporate, within article 62 of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.

Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections and other benefits of the Offer, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as "anticipates", "intends", "expects", "believes", or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Trisall. Any such forward-looking statements speak only as of the date on which they are made and Trisall has no obligation (and undertakes no such obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except for in accordance with applicable laws and regulations.

Carnegie Investment Bank AB (publ) is not responsible to anyone other than Trisall for advice in connection with the Offer.

Special notice to shareholders in the United States

The Offer (which in this section "Special notice to the shareholders in the United States" refers to the Offer as well as the Revised Offer) described in this press release is made for the issued and outstanding shares of HiQ, a company incorporated under Swedish law, and is subject to Swedish disclosure and procedural requirements, which are different from those of the United States. The Offer is made in the United States, subject to applicable exemptions under the U.S. Securities Exchange Act of 1934, as amended, and otherwise in accordance with the disclosure and procedural requirements of Swedish law, including with respect to withdrawal rights, the Offer timetable, settlement procedures, waiver of conditions and timing of payments, which are different from those applicable under U.S. domestic tender offer procedures and law. Holders of the shares of HiQ domiciled in the United States (the "U.S. Holders") are encouraged to consult with their own advisors regarding the Offer.

HiQ's financial statements and all financial information included herein, or any other documents relating to the Offer, have been or will be prepared in accordance with IFRS and may not be comparable to the financial statements or financial information of companies in the United States or other companies whose financial statements are prepared in accordance with U.S. generally accepted accounting principles. The Offer is made to the U.S. Holders on the same terms and conditions as those made to all other shareholders of HiQ to whom an offer is made. Any information documents, including the offer document, are being disseminated to U.S. Holders on a basis comparable to the method pursuant to which such documents are provided to HiQ's other shareholders.

The settlement of the Offer is based on the applicable Swedish law provisions, which differ from the settlement procedures customary in the United States, particularly as regards to the time when payment of the consideration is rendered. The Offer, which is subject to Swedish law, is being made to the U.S. Holders in accordance with the applicable U.S. securities laws, and applicable exemptions thereunder. To the extent the Offer is subject to U.S. securities laws, those laws only apply to U.S. Holders and thus will not give rise to claims on the part of any other person. The U.S. Holders should consider that the price for the Offer is being paid in SEK and that no adjustment will be made based on any changes in the exchange rate.

It may be difficult for HiQ's shareholders to enforce their rights and any claims they may have arising under the U.S. federal or state securities laws in connection with the Offer, since HiQ and Trisall are located in countries other than the United States, and some or all of their officers and directors may be residents of countries other than the United States. HiQ's shareholders may not be able to sue HiQ or Trisall or their respective officers or directors in a non-U.S. court for violations of U.S. securities laws. Further, it may be difficult to compel HiQ or Trisall and/or their respective affiliates to subject themselves to the jurisdiction or judgment of a U.S. court.

To the extent permissible under applicable law or regulations, Trisall and its affiliates or its brokers and its brokers' affiliates (acting as agents for Trisall or its affiliates, as applicable) may from time to time and during the pendency of the Offer, and other than pursuant to the Offer, directly or indirectly purchase or arrange to purchase shares of HiQ outside the United States, or any securities that are convertible into, exchangeable for or exercisable for such shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices, and information about such purchases will be disclosed by means of a press release or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to Trisall may also engage in ordinary course trading activities in securities of HiQ, which may include purchases or arrangements to purchase such securities as long as such purchases or arrangements are in compliance with the applicable law. Any information about such purchases will be announced in Swedish and in a non-binding English translation available to the U.S. Holders through relevant electronic media if, and to the extent, such announcement is required under applicable Swedish or U.S. law, rules or regulations.

The receipt of cash pursuant to the Offer by a U.S. Holder may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each shareholder is urged to consult an independent professional adviser regarding the tax consequences of accepting the Offer. Neither Trisall nor any of its affiliates and their respective directors, officers, employees or agents or any other person acting on their behalf in connection with the Offer shall be responsible for any tax effects or liabilities resulting from acceptance of this Offer.

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY U.S. STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THE OFFER, PASSED ANY COMMENTS UPON THE MERITS OR FAIRNESS OF THE OFFER, PASSED ANY COMMENT UPON THE ADEQUACY OR COMPLETENESS OF THIS PRESS RELEASE OR PASSED ANY COMMENT ON WHETHER THE CONTENT IN THIS PRESS RELEASE IS CORRECT OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

[1] A newly established company indirectly wholly-owned by certain limited partnerships comprising the private equity fund Triton Fund V, advised by the investment firm Triton.

[2] Based on all outstanding 55,842,087 shares in HiQ.

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