Sodim, SGPS, SA Waiver of the condition of success and information on the acceptance levels recorded

Lisbon, Portugal, June 2, 2021 / PRNewswire / – Sodim, SGPS, SA (“Sodim“), with reference to the general and voluntary public tender offer for the acquisition of shares representing the share capital of Semapa SGPS SA (“Sepapa“) inform the market that:

1. At market close today, June 1, 2021, the total of the orders transmitted to accept the Offer corresponds to 6,230,426 shares, corresponding to approximately 7.67% of the share capital of Semapa and 7.80% of the voting rights of Semapa. In accordance with the conditions of the Offer, these acceptance orders have become irrevocable to date.

2. In addition, during the Offer period, Sodim acquired on Euronext Lisbon, until the close of today’s listing period, a total of 892,133 Semapa shares, corresponding to approximately 1.10 % of the respective share capital and 1.12% of the rights of Semapa.

3. In view of the acceptance levels verified to date, Sodim informs the market that it will waive the condition of success included in its Offer on the date of evaluation of the results of the Offer so that all sale orders of shares transmitted by Shareholders under the Offer will be accepted and executed.

4. Thus, and on the basis of the acceptance levels established to date, Sodim has already assured that it will hold, directly and indirectly, after the conclusion of the Offer, at least 80.67% of the share capital of Semapa. which corresponds to 82.09% of the target’s voting rights.

5. As mentioned in the Offer documents, Sodim’s objective is to concentrate the Group’s presence on the stock market in its main subsidiary Navigator. With this offer, Sodim intends to offer a liquidity event and a relevant exit premium to Semapa shareholders (see Prospectus), allowing shareholders who so wish to switch to the Navigator share. Sodim reminds Semapa Shareholders that between 2016 and 2020 Navigator exhibited a correlation of 0.97 in its stock market behavior with Semapa, having presented levels of dividend yield and liquidity (measured by the average daily trading volume) respectively 2.3 and 4.5 times higher.

6. Shareholders who decide to sell their shares within the framework of the Offer must communicate this intention to their financial intermediaries until 3:00 p.m. GMT at June 4, 2021.


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