Publicado 02/06/2021 12:24CET

Sodim, SGPS, S.A. Waiver Of The Condition Of Success And Information On The Acceptance Levels Registered

LISBON, Portugal, June 2, 2021 /PRNewswire/ -- Sodim, SGPS, S.A. ("Sodim"), with reference to the general and voluntary tender offer for the acquisition of shares representing the share capital of Semapa SGPS SA ("Semapa") hereby informs the market that:

1. As of market close today, 1 June 2021, total transmitted orders to accept the Offer correspond to 6,230,426 shares, corresponding to approximately 7.67% of Semapa's share capital and to 7.80% of the voting rights of Semapa. In accordance with the conditions of the Offer, these acceptance orders became irrevocable as of the present date.

2. In addition, during the Offer period, Sodim acquired in Euronext Lisbon, until the end of today's trading period, a total of 892,133 Semapa's shares, corresponding to approximately 1.10% of the respective share capital and to 1.12 % of the voting rights of Semapa.

3. Given the acceptance levels verified so far, Sodim informs the market that it will waive the condition of success included in its Offer on the date of assessment of the results of the Offer so that all orders for the sale of shares transmitted by the Shareholders in the context of the Offer shall be accepted and executed.

4. Thus, and based on 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 Semapa's share capital that corresponds to 82.09% of the voting rights of the Target.

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

6. Shareholders who decide to sell their shares in the context of the Offer must communicate that intention to their financial intermediaries until 3 pm GMT on 4 June 2021.

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