AI assistant
APPEN LIMITED — M&A Activity 2022
May 25, 2022
64403_rns_2022-05-25_e822368b-15ca-4c22-9808-510c1d210b6a.pdf
M&A Activity
Open in viewerOpens in your device viewer
26 May 2022
==> picture [119 x 29] intentionally omitted <==
ASX Announcement
REVOCATION OF NON-BINDING PROPOSAL IN RELATION TO APPEN
As announced this morning, Appen Limited ( Appen ) received an unsolicited, conditional and non-binding indicative proposal from TELUS International ( Telus ) to acquire 100% of Appen at an indicative cash offer price of $9.50 ( Indicative Proposal ).
The Indicative Proposal was subject to several conditions.
Following receipt of the Indicative Proposal, Appen engaged with Telus in good faith through its advisers to better understand the conditions of the Indicative Proposal and to agree an appropriate confidentiality and standstill agreement ( NDA ), after which Appen was prepared to make available limited business and financial information.
Appen and Telus negotiated the NDA to an agreed form and Appen had an expectation that the NDA would be executed by Telus imminently.
Following media reports overnight, Appen was required to disclose the Indicative Proposal to the market.
This afternoon, Telus informed us that they were revoking their Indicative Proposal. No reasons were given.
No confidential information was provided to Telus.
Appen will continue to update shareholders in accordance with its continuous disclosure obligations.
Authorised for release by the Board.
For further information, please contact:
For Investors: For Media: Rosalie Duff Lauren Thompson Head of Investor Relations Domestique Consulting +61 421 611 932 +61 438 954 729 [email protected] [email protected]
About Appen
Appen is the global leader in data for the AI Lifecycle. With over 25 years of experience in data sourcing, data annotation, and model evaluation by humans, we enable organisations to launch the world’s most innovative artificial intelligence systems.
Our expertise includes a global crowd of more than 1 million skilled contractors who speak over 235 languages, in over 70,000 locations and 170 countries, and the industry’s most advanced AI-assisted data annotation platform. Our products and services give leaders in technology, automotive, financial services, retail, healthcare, and governments the confidence to launch world-class AI products.
Founded in 1996, Appen has customers and offices globally.
Appen Limited, 9 Help Street, Chatswood, NSW 2067, Australia – ACN 138 878 298
1