The Board of Directors of Apivio, on the recommendation of the Special Committee, recommend that shareholders REJECT the unsolicited offer from Nuri Telecom Company Limited (“Nuri”), through 1101324 B.C. Ltd., a wholly owned subsidiary of Nuri, to purchase all of the outstanding common shares of Apivio at a price of CAD$0.40 per share, payable in cash (the “Nuri Offer”). The Board has unanimously concluded that the Nuri Offer significantly undervalues Apivio and is not in the best interests of Apivio or its shareholders.
The basis for the Board’s recommendation is contained in an Apivio Director’s Circular which is available at www.sedar.com and/or can be downloaded here.
Copies have been mailed to shareholders.
The Apivio Directors’ Circular also provides a complete background to the Nuri Offer, a history of Apivio’s evolution since it went public as well as an update on Apivio’s recent business and product development efforts that are expected to generate significant value for shareholders in the years ahead. Apivio urges shareholders to carefully review the Directors’ Circular and cover letter. Apivio also urges shareholders to NOT TENDER their shares until receiving further communication from the Board, as the Nuri Offer is open for acceptance until May 2, 2017, unless withdrawn, accelerated or extended in accordance with its terms.
Shareholders with questions are encouraged to call D.F. King in North America toll-free at 1-800-845-1507 (outside North America 1-201-806-7301) or via e-mail at firstname.lastname@example.org.