Statement from the Board of Directors of HiQ regarding the public takeover bid from Triton

Triton Fund V (”Triton”) submitted, at 07.00 CET this morning, through its wholly-owned subsidiary Goldcup 25969 AB (under name change to Trisall AB) (“Trisall”), a public takeover bid to the shareholders of HiQ International AB (publ) (“HiQ”) to transfer all of the shares in HiQ to Trisall (the “Offer”).

The offer in brief according to the statement from Triton:

  • Trisall will pay SEK 70 in cash for each share in HiQ.[1] The total offer amounts to c. SEK 3,909 million.[2]
  • The Offer does not include warrants holder within the framework of HiQ’s Incentive Programme. Trisall has announced that after the completion of the Offer, it will work to ensure that warrant holders are given fair treatment outside the Offer.
  • The offer implies a premium of:
    • (i) c. 25 percent compared to the closing price of SEK 55.90 and 27 percent compared to the volume weighted average share price of SEK 55.20 on Nasdaq Stockholm the 25 of August 2020 (which was the last day of trading prior to the Offer announcement);
    • (ii) c. 33 percent compared to the volume weighted average share price of SEK 52.82 during the last 30 days of trading prior to the Offer announcement;
    • (iii) c. 63 percent compared to the volume weighted average share price of SEK 42.84 during the last 180 days of trading prior to the Offer announcement; and
    • (iv) c.54 percent compared to the volume weighted average share price of SEK 45.40 during the last 360 days of trading prior to the Offer announcement.
  • Triton’s indicative timeline:
    • Offer document published                                                      9 September 2020
    • Acceptance period                                                                  10 September – 1 October 2020
    • Settlement                                                                               9 October 2020

Further information concerning the Offer on the bidder’s website: www.invest-to-lead.com

 

Advisors
The Board of Directors of HiQ has engaged Danske Bank as financial advisor and Setterwalls Advokatbyrå as legal advisor in relation to the Offer.

 

Statement from the Board of Directors
The Board, together with its advisors, will further evaluate the Offer that has been submitted and will thereafter publish its formal statement on the Offer as soon as possible, at the latest two weeks prior to the end of the acceptance period of the Offer.

 

For additional information, please contact:
Erik Ridman, Director of Communication HiQ, tel: +46 (0)70-420 00 01, E-mail: erik.ridman@hiq.se

 

This information is information that HiQ International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at [08:59] CET.



[1] If HiQ, prior to the settlement of the Offer, pays any dividend or makes any other transfer of value to shareholders, the Offer Consideration will be adjusted accordingly.

[2] Based on 55,842,087 shares, corresponding to the total number of shares outstanding in HiQ.


Erik Ridman

Get in touch

Erik Ridman
Chief Marketing Officer
HiQ
+46 70-420 00 01
+46 8-588 90 000

HiQ expands in three Swedish cities following the acquisition of Headlight

Earlier this year, HiQ acquired Headlight Group, consisting of Headlight and Relight. This acquisition is an important part of HiQ’s expansion journey and will bring new job opportunities to the cities of Västerås, Örebro and Borlänge due to the great recruitment need. The news comes just weeks after the acquisition was announced and is an important part of HiQ’s effort to become Northern Europe’s leading tech consulting firm.

– We’re so excited to be expanding to Borlänge and in the cities of Örebro and Västerås! This merger enables us to expand further in the Swedish market and bring new jobs to all three cities while also affording us the opportunity to work together with companies in these areas. This is a good step for us on our expansion journey. Let’s go big!, says Sven Ivar Mørch, CEO of HiQ.

Read more

HiQ wins framework agreement with the Swedish National Agency for Higher Vocational Education

HiQ wins framework agreement with the Swedish National Agency for Higher Vocational Education (MYH). The procurement refers to consulting support regarding system development, architecture, and change management.

– So great for HiQ to win this framework agreement, areas in which we are incredibly strong. Contributing with this kind of competence is the core of what we want to do, and the public sector is an important area for us, says Sven Ivar Mørch, CEO of HiQ.

Read more

HiQ & BatteryLoop develop more efficient charging infrastructure

BatteryLoop, a company which gives electric car batteries a second life as energy storage systems, launched an energy storage system in the spring of 2021 which makes it possible, among other things, to build charging infrastructure in places where the electricity grid suffers power shortages. In collaboration with HiQ, BatteryLoop is now developing a digital platform that makes it possible to maximize power in the charging infrastructure. The digital platform enables an estimate as to how long a battery has left to live, thus its economic value in a circular business model.

– It is fantastic that our team is joining BatteryLoop on this journey. Circular business models and sustainability are important to us at HiQ, and it really shows with this project. There is an incredible amount to do to streamline the use of energy in society and this solution is an important contribution to that process, says Sven Ivar Mørch, CEO of HiQ.

Read more