Basware Oyj

Legal Proceedings Report • Nov 25, 2022

The arbitral tribunal has confirmed Sapphire BidCo Ltd's redemption right over the minority shares in Basware Corporation and trading in the Basware Corporation shares will be suspended

The arbitral tribunal has confirmed Sapphire BidCo Ltd's redemption right over the minority shares in Basware Corporation and trading in the Basware Corporation shares will be suspended

Basware Corporation, stock exchange release, 25 November 2022 at 9:55a.m. EET

The arbitral tribunal appointed by the Redemption Board of the Finland Chamber
of Commerce in connection with the redemption proceedings concerning the
minority shares in Basware Corporation (“Basware”) has in its interim decision
confirmed that Sapphire BidCo Ltd (“Sapphire BidCo”) has the right to redeem the
minority shares in Basware and that Sapphire BidCo has the right to obtain title
to the minority shares by posting a security approved by the arbitral tribunal
for the payment of the redemption price and the possible interest accruing
thereon.

Basware announced on 7 October 2022 that the Board of Directors of Basware has
resolved to apply for the termination of public trading in the shares of Basware
and for the delisting of its shares from the official list of Nasdaq Helsinki
Ltd (“Nasdaq Helsinki”) so that the delisting would occur as soon as possible
upon Sapphire BidCo having gained title to all the shares in Basware in the
pending redemption proceedings under Chapter 18 of the Finnish Companies Act.
Following the confirmation of the redemption right, Nasdaq Helsinki will suspend
trading in the Basware shares on 25 November 2022 before the opening of trading.
The posting of the security and the delisting of the Basware shares will be
announced separately.

For more information, please contact:
Teemu Ruikka, General Counsel, Basware Corporation
Tel.+358 40 548 9848, teemu.ruikka@basware.com

Distribution:
Nasdaq Helsinki
Main media
investors.basware.com/en

About Basware:
Basware is a leading provider of Networked Procure-to-Pay solutions with the
largest open e-invoicing network in over 180 countries. Our cloud-based
technology enables enterprises to fully manage their spend, mitigate financial
risk and reduce operating costs through automation of finance, procurement,
accounts payable and accounts receivable processes. Our open technology
ecosystem and extensive partner network have helped over 6,500 businesses in 60
countries move towards 100% spend visibility which enables better business
decisions - a concept we call Visible Commerce. Basware's solutions support the
transition to a lower-carbon economy by digitization and automation. Basware is
traded on the Helsinki exchange (BAS1V: HE). Find out more at
https://investors.basware.com/en.

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