Article posted on June 13th, 2017
Kalibrate Technologies plc (AIM: KLBT), the provider of strategy and technology services to the global fuel and convenience retail industry, notes the announcement made earlier today (the “Announcement”) by Canterbury Acquisition Limited (“Hanover Bidco”) and is pleased to confirm to Kalibrate’s shareholders that it has reached agreement on the terms of a proposed recommended all cash offer by Hanover Bidco at a price of 85.5 pence per share (the “Offer”) for the entire issued and to be issued share capital of the Company.
Commenting on the Offer, Bob Stein, Chief Executive Officer of Kalibrate Technologies plc said:
“We continue to make good progress within our core markets, deepening our customer relationships and winning additional contracts. With continued investment in our new products of Merchandise Pricing/Promotion and B2B/Wholesale Pricing we are developing additional growth opportunities with our client base. Whilst this strength underpins our belief in our products and long-term growth plans, the time and investment required to convert those growth ambitions continue to extend, compounded by the delays in deregulating markets that we’ve previously announced. I, along with the rest of the Kalibrate Board, intend to recommend the Offer.”
For further information please contact:
Kalibrate Technologies plc via FTI Consulting, LLP
Robert B Stein, Jr. Chief Executive Officer
Gregg R Budoi, Chief Financial Officer
N+1 Singer Advisory LLP +44 (0) 20 7496 3000
Shaun Dobson/ Alex Price / James Hopton
FTI Consulting, LLP +44 (0) 20 3727 1000
Matt Dixon / Chris Lane / Emma Appleton/ Elena Kalinskaya
The Announcement, which provides further details of the Offer, is available to view at www.kalibratetech-ir.com/content/investors/takeover-code.asp. The Board confirms that it provided its unanimous consent to the issue of the Announcement.
The Board notes that the Offer document will be sent to Kalibrate Shareholders (other than those in a Restricted Jurisdiction) as soon as practicable and in any event within 28 days of this announcement. Shareholders do not therefore need to take any action at this stage.
The Company will make further announcements as appropriate.
For over 20 years, Kalibrate (LSE: KLBT) has advised fuel and convenience retailers throughout the world on how to be best-in-class operators in the fast changing marketplace. Kalibrate’s global footprint and local presence are the result of a merger between two market leaders: KSS Fuels, the forerunner in fuel pricing automation, and MPSI, recognized leaders of retail location intelligence. Clients gain fuller visibility, truer insight and more effective control over what matters most-what Kalibrate calls Your Adaptive Edge™.
Headquartered in Manchester, United Kingdom and Florham Park, New Jersey, Kalibrate has centers of excellence in Mumbai, India; Tulsa, Oklahoma; and Melbourne, Australia as well as offices in 10 other countries. For more information, visit kalibrate.com.