Claranova: Completion of the buyout of the minority shareholders of Avanquest scheduled for the end of October 2021

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PARIS–(COMMERCIAL THREAD) – Regulatory news:

Claranova (Euronext Paris: FR0013426004 – CLA) (the “Company”) announces today that the buyout of minority interests in its software publishing division, Avanquest, initially scheduled for the end of September 2021, should now be finalized at the end of ‘October 2021.

This schedule has been modified by mutual agreement between the Company and the minority shareholders of Avanquest to allow the statutory auditor (contribution commissioner), mandated in accordance with Articles L. 225-147 and R. 22-10-8 of the French Commercial Code for contributions in kind, to prepare a report on the fair value of the consideration paid by Claranova, required by the Autorité des marchés financiers (AMF Position-Recommendation 2020-06), based on the Company’s audited accounts for the 2020-2021 fiscal year. These financial statements are expected to be released on October 20, in accordance with the Company’s financial reporting schedule.

The terms of the initial binding agreement between the Company and the minority shareholders of Avanquest are not affected by this new schedule and the terms and conditions of the transaction remain unchanged.

As a reminder, as part of the strategic investment in early August by institutional investors Heights Capital Management and Ophir Asset Management for an amount of 65 million euros, Claranova announced a firm agreement to buy out the minority interests of Avanquest as part of an operation providing for payment by a mix of cash, securities and debt for a total amount of 98 million euros. The financial conditions of this transaction are presented in the press release of August 11, 2021, available on the Company’s website.

Financial calendar:

20 October 2021: Results for the 2020-2021 financial year

About Claranova:

Claranova is a global technology company, home to digital brands and services that are trusted by millions of users around the world. With an average annual growth of more than 40% over the last three years and a turnover of 472 million euros for the fiscal year 2020-2021, Claranova has proven its ability to transform a simple idea into a global success in just a few years. Present in 15 countries and leveraging the technological expertise of its 700+ employees in North America and Europe, Claranova is a truly international company, with 95% of its turnover coming from international markets.

A leader in personalized e-commerce, Claranova also stands out for its technological expertise in software publishing and the Internet of Things, through its PlanetArt, Avanquest and myDevices activities. These three technology platforms share a common vision: to empower people through innovation by providing simple and intuitive digital solutions that facilitate daily access to the best of technology.

For more information on the Claranova Group:

https://www.claranova.com Where https://twitter.com/claranova_group

CODES

Teleprinter:
CLA

IS IN:FR0013426004

www.claranova.com



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