EANS-Adhoc: S&T AG cancels Letter of Intent with Cloudeeva Inc.

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
Mergers - Acquisitions - Takeovers

Linz, 25.02.2014. S&T AG has withdrawn from the Letter of Intent concluded with
Cloudeeva Inc., San Ramon, California 94583, USA. The objectives of the Letter
of Intent included the issuance of a voluntary offer. It would have been made to
the shareholders of S&T AG. This would have been linked to the provision of
support to Cloudeeva Inc. by S&T AG. 

Cloudeeva Inc. announced on 22.01.2014 that it had concluded the due diligence
of S&T AG's business, tax and legal situations, and that this process had
yielded positive results. 

The Letter of Intent also foresaw Cloudeeva Inc.'s submission or publication by
20.02.2014 of documents detailing how the issuance of a voluntary takeover could
proceed as planned - or how it could at all be made. Cloudeeva Inc.'s
non-fulfillment up to now of this agreement caused S&T AG today to cancel  this
Letter of Intent. The latter thus adhered to the term of termination, in doing
such. Independent of this cancellation both parties stated that they may proceed
with further negotiations in the future.

About S&T AG:
S&T AG (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT) is listed on the Prime Standard
segment of the Frankfurt Stock Exchange. The company has some 1,500 employees
and offices in 19 countries in Central and Eastern Europe. These provide the
company's extensive portfolio of products and services - many of them featuring
proprietary technologies - throughout this region. These assets make S&T one of
the largest suppliers of IT systems in Eastern Europe.

Further inquiry note:
ir@snt.at; +431801911125;

end of announcement                               euro adhoc 

issuer:      S&T AG
             Industriezeile  35
             A-4021 Linz
phone:       +43 664 6119214
FAX:         +43 1 80191 1290
mail:     ir@snt.at
WWW:      www.snt.at
sector:      Computing & Information Technology
ISIN:        AT0000A0E9W5, DE000A1HJLL6
stockmarkets: regulated dealing/prime standard: Frankfurt 
language:   English

Original-Content von: S&T AG, übermittelt durch news aktuell

Weitere Meldungen: S&T AG

Das könnte Sie auch interessieren: