PHAST Invest made an offer to acquire 56.44% stake in Prodware from its shareholders for ?38.4 million.
October 19, 2021
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PHAST Invest made an offer to acquire 56.44% stake in Prodware (ENXTPA:ALPRO) from its shareholders for ?38.4 million on October 20, 2021. Phast Invest and the directors and reference shareholders Messrs Philippe Bouaziz, Alain Conrard, St?phane Conrard and Fran?ois Richard historical shareholders made an offer to acquire Prodware at ?8.80 per share. The Offer targets all the Productware shares not held by the Concert, consequently, the Concert will hold 38.47% of the capital. The Offer will be subject to the normal procedure in accordance with the provisions of articles 232-1 et seq. Of the general regulations of the Autorit? des march?s financiers will lapse if the Offeror does not hold, alone or in concert greater than 50%. Le Concert does not intend to request the implementation of a squeeze-out procedure in the event that, at the closing of the Offer, the minority shareholders of Prodware do not represent more than 10% of the capital. The Offer is financed by external financing raised by Phast Invest. The Offer will not be subject to any regulatory authorization or to any other condition. Messrs Olivier Peronnet and Christophe Lambert of Finexsi Expert & Conseil Financier is acting as a fairness opinion provider to Prodware Board of directors.
Prodware specializes in publishing and integrating management software. With a strong R & D structure, an unparalleled expertise in best practices industrialization and top-notch strategic alliances, the group's ambition is to deploy its Prodware Adjust product range worldwide. The group's activity is organized around 3 areas:
- publishing and integration of management software: software for accounting management, human resources, customer relations, pay stubs, production, etc.;
- design, engineering and deployment of decisional information systems: data operating and analysis applications, internal management process control and modeling systems (customer relations and human resources management, management control etc.), etc.;
- design and implementation of network applications and securitization: supply of network systems, server installation and hosting, installation of security software (antivirus, anti-intrusion etc.).
As Microsoft's first partner in the EMEA region, and the main Sage partner in French-speaking countries, Prodware employs more than 1,400 employees serving more than 15,000 customers in 15 countries.
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