AP NEWS

Arrowgrass Has Agreed to an Extension of Its Irrevocable Undertaking Regarding Its Holdings in Basware Corporation

January 16, 2019

LONDON & NEW YORK--(BUSINESS WIRE)--Jan 16, 2019--The investment funds of Arrowgrass Capital Partners LLP (“ Arrowgrass ”) hold, directly and indirectly, over 24 per cent of all shares and votes in Basware Corporation (“ Basware ”), a Finnish listed company providing networked source-to-pay solutions and e-invoicing services. Arrowgrass refers to the announcements made by Basware on 16 November 2018, 20 November 2018 and 7 December 2018 with regard to a possible tender offer by Tradeshift Holdings Inc. (“ Tradeshift ”) for Basware.

Arrowgrass announces that it has agreed, under certain conditions, to extend an irrevocable undertaking with Tradeshift to accept a tender offer by Tradeshift for Basware, should Tradeshift publicly announce its tender offer in accordance with applicable laws and regulations no later than 28 February, 2019.

Arrowgrass recognizes that Basware has emphasized in its announcements that the launch of the tender offer remains uncertain.

About Arrowgrass

Arrowgrass Capital Partners LLP is a London headquartered alternative asset manager that was founded in February 2008. Currently, Arrowgrass manages the following four funds: Arrowgrass Master Fund Ltd., Arrowgrass Equity Focus Fund Limited, Arrowgrass Customised Solutions I Limited, and Arrowgrass Inflection Fund Limited.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190116005667/en/

CONTACT: Media:

Shawn Pattison and William Braun

Abernathy MacGregor

212-371-5999

shp@abmac.com/whb@abmac.com

KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Arrowgrass Capital Partners LLP

Copyright Business Wire 2019.

PUB: 01/16/2019 12:30 PM/DISC: 01/16/2019 12:30 PM

http://www.businesswire.com/news/home/20190116005667/en

AP RADIO
Update hourly