Acando applies for delisting, appoints new CEO and CFO and sets new date for annual general meeting

    18 April 2019

    For more information, please contact:

    Jarkko Virtanen, Vice-President, Marketing and Communications for Northern Europe, jarkko.virtanen@cgi.com, +358 40 759 3603

    CGI Inc. (“CGI”), through its indirect wholly-owned subsidiary CGI Nordic Holdings Limited, declared the public offer for Acando AB (publ) (“Acando”) unconditional on 16 April 2019. CGI holds more than 90 per cent of the shares in Acando and intends to request compulsory redemption regarding the remaining shares in the Acando.

    The board of directors of Acando has, at the request of CGI, today resolved to apply for delisting of Acando’s class B shares from Nasdaq Stockholm. The last day of trading in Acando’s shares on Nasdaq Stockholm will be announced as soon as Acando has received confirmation from Nasdaq Stockholm.

    The board of directors of Acando has further resolved to bring forward the date for the annual general meeting to be held on 22 May 2019 instead of on 29 May 2019 as previously announced, for the purposes of, amongst other things, electing board members and auditor and amending Acando’s articles of association with respect to the number of board members.

    In consideration of the current changed situation, the board of directors has further resolved to no longer propose a dividend to be paid for the 2018 financial year.

    By reason of CGI’s public offer, the board of directors of Acando resolved to postpone the publishing of the interim report for the period January–March 2019, to 31 May 2019 (see Acando’s press release as of 18 March 2019). Should Acando at this time no longer be listed on Nasdaq Stockholm, no interim report will be published.

    Moreover, the board of directors of Acando has, as part of the measures taken to manage the integration of Acando into CGI, resolved to dismiss Carl-Magnus Månsson as President and Chief Executive Officer of Acando as from 18 April 2019. Carl-Magnus Månsson will provide full time assistance to CGI in connection with the integration of Acando and the transfer of work tasks to his successor and will be available to Acando during a transition period afterwards. The board of directors has resolved to appoint Heikki Nikku as President and Chief Executive Officer of Acando as from 18 April 2019. Heikki Nikku was born in 1956 and is President of CGI Northern Europe operations. Furthermore, as from 18 April 2019, Charles Gill will replace Anneli Lindblom as Chief Financial Officer of Acando. Charles Gill was born in 1965 and is CGI Vice-President, Finance, Northern Europe.

    About Acando

    Acando is the consulting company who with equal parts of technical excellence and insight in human behavior innovates, streamlines and mobilizes organizations to sustainable change. The Group has approximately 2,100 employees allocated over five countries. Acando had sales of more than SEK 2.8 billion in 2018 and is listed on Nasdaq Stockholm.

    www.acando.com