HansaMatrix — M&A Activity 2023

Mar 16, 2023

Management Board of HansaMatrix opinion on the voluntary takeover bid for HansaMatrix shares

As recently announced, SIA Emsco (registration no. 40203437904, legal address – Jaunmoku 34, Rīga, LV-1046) (hereinafter – Emsco) has made a voluntary takeover bid (hereinafter – the Offer) for the shares of joint-stock company “HansaMatrix” (hereinafter – the Company). According to the voluntary takeover bid prospectus (hereinafter - the Prospectus), the price of one share is set at EUR 8.50 and the offer is valid till 31th March at 4pm.

The Management Board of the Company provides this opinion in accordance with the requirements of Article 28 of the Share Buyback Law and based only on publicly available information.

The Management Board of the Company believes that the Offer complies with the regulation of the current laws and regulations and that the interests of all the Company's shareholders have been respected. Company shareholders, including minority shareholders, have the opportunity to evaluate the Offer and make a free and economically justified decision to use it and sell shares at the price indicated in the Offer, or to refuse it.

The Management Board believes that financially strong shareholder owning the controlling stake of the Company will contribute to more dynamic development and execution of the strategy, improve the efficiency of the business operations and facilitate the inflow of investments.

The Management Board of the Company evaluates the Offer positively and, based on information included in the published Prospectus, there is a reason to believe that changes in the type of business operations and the change of the Company's location are not planned. Also, there are no plans to reduce the existing number of jobs, which means that the employment legal relations with the Company's employees are planned to continue in accordance with the concluded employment agreements.

Emsco plans to acquire at least 75% of Company’s voting shares and in case the voluntary share purchase offer is successful, it s intended to propose the delisting of HansaMatrix from the regulated market.

Investor and media contact:

Māris Macijevskis, CFA

Management Board Member, Finance director

Phone: (+371) 6780 0002

E-mail: invest@hansamatrix.com

http://www.hansamatrix.com

About HansaMatrix

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial and other high added value business sectors.