Sidetrade secures majority control of SHS Viveon AG
- New management at SHS Viveon AG as Sidetrade takes
majority control
- SHS Viveon AG delisting approved by Munich Stock
Exchange
- New tender offer deadline: July 29, 2024 at midnight
(CEST, Munich, Germany)
June 20, 2024 |
Sidetrade, the global leader in AI-powered
Order-to-Cash applications, today announces that it owns 79.39% in
SHS Viveon AG, a German leader in credit risk management software,
becoming the majority shareholder. Following the approval by Munich
Stock Exchange for the delisting of SHS Viveon AG, Sidetrade has
extended its public tender offer, allowing SHS Viveon’s
shareholders the opportunity to tender their remaining shares at a
price of €3.00 per share in cash.
New management at SHS Viveon AG as
Sidetrade takes majority control
Sidetrade AG, a wholly owned subsidiary of
Sidetrade group, has now secured 1,977,439 shares,
representing 79.39% of SHS Viveon AG’s outstanding share
capital, thereby becoming the majority shareholder.
On June 4, 2024, Olivier Novasque, CEO
of Sidetrade, was appointed as the new CEO of SHS Viveon
AG: “I’m excited to lead the SHS Viveon team of talented
employees who bring with them impressive expertise and skills in
risk management. Together, we will innovate, reach new heights, and
continue to serve our valued customers in Germany and beyond with
passion.”
In conjunction with this appointment, the
Supervisory Board of SHS Viveon AG implemented further significant
changes on June 10, 2024. Philippe Gangneux, CFO of
Sidetrade, was appointed the new Chairman of the SHS Viveon AG
Supervisory Board. Mark Sheldon, CTO of
Sidetrade, was named as a new Board member, joining Heinz Resch,
who remains as Deputy Chairman.
SHS Viveon AG delisting approved by
Munich Stock Exchange
SHS Viveon AG (ISIN: DE000A0XFWK2) has formally
applied to delist its shares from the Munich Stock Exchange. The
Munich Stock Exchange decided that the listing on the m:access
segment will end on June 30, 2024 and on the regulated unofficial
market “Freiverkehr” on November 15, 2024. As a result,
after November 15, 2024, SHS Viveon shares will no longer
be listed on the capital markets.
In accordance with Munich Stock Exchange,
Sidetrade has extended its public tender offer to July 29, 2024 at
midnight (CEST, Munich, Germany). This extension provides SHS
Viveon’s shareholders with ample time to tender their remaining
shares. As stated in the May 2, 2024 press release, Sidetrade’s
offer price is €3.00 per SHS Viveon share in cash.
SHS Viveon AG
delisting time-frame
May 7, 2024
Tender offer
opensJune 12, 2024
Delisting of SHS Viveon AG proposed to the Munich Stock
ExchangeJune 17, 2024 End
of the initial tender offer periodJune 24, 2024
Extension period of the tender offer opensJune
30, 2024 Delisting of SHS
Viveon AG from m:accessJuly 29, 2024
End of the tender offer period at midnight
(CEST Munich, Germany)November 15, 2024 Delisting of SHS
Viveon AG from “Freiverkehr”
The tender offer is not subject to reaching a
minimum acceptance threshold.
The tender offer documentation is available on
www.sidetrade.com in German
(https://www.sidetrade.com/wp-content/uploads/2024/05/public-tender-offer-shs-viveon-de.pdf)
and in English
(https://www.sidetrade.com/wp-content/uploads/2024/05/public-tender-offer-shs-viveon.pdf).Copies
of the German language binding document may be obtained at
uebernahmeangebot@oddo-bhf.com.
Sidetrade is assisted by King & Spalding LLP
as legal advisor on the transaction and ODDO BHF SE as financial
advisor.
About SHS Viveon AG, a
German leader in credit risk & compliance management software
applications
Founded in 1991 and headquartered in Munich,
Germany, SHS Viveon AG offers applications designed to enable risk,
credit, and compliance management teams to automatically identify,
assess, and hedge risks in a flexible, digital process. It
simplifies access to all relevant data from any system, improves
analysis and simulation, and enables better business decisions.
In 2023, SHS Viveon AG reported revenues of €8.8
million. SHS Viveon AG’s customer portfolio currently comprises 80
businesses including Fortune 100 companies.
Investor
relations @SidetradeChristelle Dhrif
00 33 6 10 46 72
00
cdhrif@sidetrade.com
Media
relations @SidetradeBecca
Parlby
00 44 7824 5055
84
bparlby@sidetrade.com
About
Sidetrade (www.sidetrade.com)Sidetrade
(Euronext Growth: ALBFR.PA) provides a SaaS platform dedicated to
securing and accelerating cash flow. Sidetrade’s next-generation
AI, nicknamed Aimie, analyzes $6.1 trillion worth of B2B payment
transactions daily in the Sidetrade Cloud to predict customer
payment behavior and the attrition risk of more than 38 million
buyers worldwide. Aimie recommends the best operational strategies,
intelligently automates actions on the entire Order-to-Cash
process, and dematerializes customer transactions to enhance
productivity, performance, and working capital improvements.
Sidetrade has a global reach, with 315+ talented employees based in
Paris, London, Birmingham, Dublin, Houston, and Calgary, serving
global businesses in more than 85 countries. Amongst them: Bidcorp,
Biffa, Bunzl, Contentsquare, Engie, Expedia, Inmarsat, KPMG,
Lafarge, Manpower, Opentext, Page, Randstad, Saint-Gobain,
Securitas, Sodexo, Tech Data, UGI, Veolia. Sidetrade is a
participant of the United Nations Global Compact and adheres to its
principles-based approach to responsible business.
For further
information, visit us at www.sidetrade.com and follow @Aimie on
LinkedIn.
In the event of any
discrepancy between the French and English versions of this press
release, only the English version is to be taken into account.
- Sidetrade secures majority control of SHS Viveon AG
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