21 June 2023
London, 22 June 2023 – Noventiq (LSE: NVIQ), a global digital transformation and cybersecurity solutions and services provider, today announces that it will shortly apply to the UK Financial Conduct Authority ("FCA") and London Stock Exchange plc ("LSE") to effect a cancellation of its listing of global depositary receipts (“GDRs”) representing ordinary shares on the standard segment of the FCA's Official List and trading on the main market for listed securities of the LSE ("Main Market").
Further to the announcement by Noventiq on 4 May 2023 that it has entered into a business combination agreement with Corner Growth Acquisition Corp. (Nasdaq: COOL) ("Corner Growth") and the proposed listing of the combined company on Nasdaq, the Company has decided to request the voluntary cancellation of its GDR listing on the FCA’s Official List and of its admission to trading on the LSE (“LSE Delisting”). The Company will, in due course, also apply to the Moscow Exchange (“MoEX”) to de-list its GDRs from trading on MoEX (“MoEX Delisting”). Delisting on LSE and MoEX is a condition of the business combination with Corner Growth, and given the multiple trading venues involved, the Company has initiated the process now as a natural step to ensure the delistings are completed in a timely manner and do not impact completion of the business combination.
Pursuant to Listing Rule 5.2.8R, the Company is required to give at least 20 business days' notice of the intended cancellation of its listing on the LSE. It is anticipated that the LSE Delisting will be effective at 8:00 a.m. on 26 July 2023 (the "LSE Delisting Date"). Following the LSE Delisting, the Company will no longer be subject to the regulatory and statutory regime which applies to companies admitted to the standard segment of the Official List and traded on the Main Market.
The Company anticipates that the MoEX Delisting will be completed by early October. The Company will continue to update its shareholders and its GDR holders in connection with the MoEX Delisting and on the business combination with Corner Growth as necessary.
Investors: Steven Salter Global Investor Relations VP IR@noventiq.com
Media: Rocio Herraiz Global Head of Communications firstname.lastname@example.org
Noventiq (Noventiq Holdings plc) is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered and listed in London (LSE: NVIQ). The company enables, facilitates, and accelerates digital transformation for its customers’ businesses, connecting 80,000+ organizations across all sectors with a vast selection of best-in-class IT vendors, alongside its own services and solutions.
With a turnover of US$ 1.6 billion in FY23 (12 months ending March 31, 2023), Noventiq is currently one of the fastest growing companies in the sector. The company’s growth is underpinned by its three-dimensional strategy to expand its markets, portfolio, and sales channels. The strategy is supported by an active approach to M&As which enables Noventiq to take advantage of the ongoing consolidation in the industry. Noventiq's 6,400 employees work in ~60 countries throughout Asia, Latin America, Europe, Middle East, and Africa—markets with significant growth potential.
In May 2023, Noventiq announced its intent to list on Nasdaq through a proposed business combination with Corner Growth Acquisition Corp.
Additional information about Noventiq can be found here: https://noventiq.com/investor-relations
Forward Looking Statements
Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the business combination between Corner Growth and Noventiq, the estimated or anticipated future results and benefits of the combined company, including the likelihood and ability of the parties to successfully consummate the business combination, future opportunities for the combined company, and other statements that are not historical facts. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Noventiq. These forward-looking statements should not be relied upon as representing Noventiq’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
This release shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.