RESULTS OF THE INITIAL ACCEPTANCE PERIOD OF THE MANDATORY TAKEOVER BID FOR AKKA TECHNOLOGIES - REOPENING OF THE BID AS A SIMPLIFIED SQUEEZE-OUT

AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange

ZURICH, April 20, 2022 /PRNewswire/ -- The Adecco Group announces today that during the initial acceptance period of the previously announced mandatory takeover bid for AKKA Technologies, 9,319,130 shares (representing 90.79% of the shares to which the bid relates) were tendered.

View PDF

The initial acceptance period of the bid launched by Adecco Group's wholly owned subsidiary, Modis International AG ("Modis" or the "Bidder") for AKKA Technologies SE ("AKKA") (the "Bid") ended on 13 April 2022. In addition to shares, 1,652 convertible bonds (representing 94.40% of the outstanding convertible bonds, to which the bid relates) were tendered into the Bid.

As a result, the Adecco Group will hold a total of 96.97% of the outstanding shares and 94.40% of the outstanding convertible bonds issued by AKKA.

The payment of the bid price is expected to take place on or about 21 April 2022.

As the Adecco Group holds more than 95% of the outstanding shares, it has decided to proceed with a simplified squeeze-out bid, pursuant to article 7:82, §1 of the Code of Companies and Associations and articles 42 and 43 of the royal decree of 27 April 2007 on public takeover bids, at the same price as set out in the Prospectus. The acceptance period will start on 21 April 2022 and end on 11 May 2022. Security holders can tender their securities by following the instructions set out in the Prospectus. The results of the acceptance period of the squeeze-out bid are expected to be published on or about 12 May 2022.

FULL PRESS RELEASE

Contacts: The Adecco Group, Investor Relations, +41 (0)44 878 88 88

Logo - https://mma.prnewswire.com/media/1197818/The_Adecco_Group_Logo.jpg
PDF - https://mma.prnewswire.com/media/1800121/Adecco_Group.pdf

SOURCE The Adecco Group