FRISQ has received an offer regarding a divestment of its operating subsidiaries

Insider information: The Board of Directors (“Board”) of FRISQ Holding AB (publ) ("FRISQ" or "the Company") has received an offer for the Company's operating subsidiaries FRISQ AB, FRISQ UK LTD and FRISQ USA Holding Inc (together the "Subsidiaries") for a total purchase price of approximately SEK 106 million. The non-binding offer has been submitted by Kerdos Capital Ventures Ltd ("Kerdos").

As previously communicated, the Board of FRISQ has worked to find a solution for long-term financing and during this course evaluated several alternatives for structural change. As part of this evaluation process, the Board has conducted discussions with Kerdos about a sale of the Subsidiaries. On December 27 2021, Kerdos submitted an offer to acquire the Subsidiaries for approximately SEK 106 million. To illustrate the value of the offer, this would mean a contribution of SEK 2.22 per share in Frisq Holding AB (without taking any transaction costs into account). The offer from Kerdos is non-binding and is subject to certain conditions.
To maintain full flexibility for this offer and for other alternatives, the Board of FRISQ has decided to convene an Extraordinary General Meeting to, amongst other things, amend the Articles of Association and thereby enable a sale of the Subsidiaries. The Extraordinary General Meeting will be held on February 8, 2022, and the notice has been announced separately today. If this becomes relevant, a final sale of the Subsidiaries will be subject to the shareholders' approval at a special General Meeting, which is also one of the conditions in Kerdo's offer.
In its offer, Kerdos has undertaken to provide the Subsidiaries with SEK 120 million after a completed acquisition, whereby the Subsidiaries' continued operations would be secured and constitute a good financial base for customers and employees. A sale of the Subsidiaries would mean that FRISQ no longer has any operating activities as a listed company. As the Board of FRISQ continues to evaluate the current situation, the Board also considers what the continued plan for FRISQ would be in such a scenario.
The Board of FRISQ will publish more information as the situation changes or decisions are made.
Responsible parties:
This information constitutes inside information that Frisq Holding AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation 596/2014. The information in this press release has been published by the following contact person, on December 4th, 2021 at 08.00 CET. The person below can also be contacted for further information.

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