Supervisors in discussion at construction site

Kalibrate cash offer received

Kalibrate Technologies plc (AIM: KLBT), the provider of strategy and technology services to the global fuel and convenience retail industry, notes the announcement made earlier today (the “Announcement”) by Canterbury Acquisition Limited (“Hanover Bidco”) and is pleased to confirm to Kalibrate’s shareholders that it has reached agreement on the terms of a proposed recommended all cash offer by Hanover Bidco at a price of 85.5 pence per share (the “Offer”) for the entire issued and to be issued share capital of the Company. The Offer values the entire issued share capital of Kalibrate at approximately £29 million and represents a premium of 50 per cent over the closing middle market price of 57 pence per Kalibrate Share on 1 June 2017, being the day prior to Hanover Bidco’s approach to the directors of Kalibrate (the “Kalibrate Directors”) regarding the Offer.

Commenting on the Offer, Bob Stein, Chief Executive Officer of Kalibrate Technologies plc said:

“We continue to make good progress within our core markets, deepening our customer relationships and winning additional contracts. With continued investment in our new products of Merchandise Pricing/Promotion and B2B/Wholesale Pricing we are developing additional growth opportunities with our client base. Whilst this strength underpins our belief in our products and long-term growth plans, the time and investment required to convert those growth ambitions continue to extend, compounded by the delays in deregulating markets that we’ve previously announced. I, along with the rest of the Kalibrate Board, intend to recommend the Offer.”

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