Core Points - The voluntary takeover offer by Innosera ApS for Bavarian Nordic has been withdrawn due to insufficient acceptance rates, with only 60% of shareholders accepting the offer, falling short of the required 66.67% [2][3][4] - Bavarian Nordic will continue as an independent company, maintaining its current growth strategy and inviting shareholders to an information meeting to discuss business status and future plans [4][5] Company Overview - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including being a preferred supplier of mpox and smallpox vaccines [7]

Core Viewpoint - Innosera ApS has published a third supplement to its offer document, lowering the minimum acceptance condition for its takeover bid of Bavarian Nordic A/S from 75% to 66 2/3% of the voting rights and share capital [2][4]. Offer Details - The offer period has been extended, with the expiry time changed from 5:00 p.m. (CET) to 11:59 p.m. (CET) on November 5, 2025 [3]. - All other terms and conditions of the offer remain unchanged as per the previous supplements [4]. Shareholder Response - Institutional shareholders representing approximately 5.3% of Bavarian Nordic's share capital have committed to accept the improved offer during the extended period [5]. - As of October 21, 2025, the Offeror has received acceptances and binding commitments indicating a preliminary acceptance level of approximately 36.1% [5]. Regulatory Approval - The third supplement has been approved by the Danish Financial Supervisory Authority [6].

Core Viewpoint - Bavarian Nordic's Board of Directors maintains its recommendation for shareholders to accept the takeover offer from Innosera ApS, citing the offer as fair and attractive based on the company's fundamental value and historical share price levels [2][3]. Offer Details - The takeover offer is for all issued and outstanding shares of Bavarian Nordic, excluding treasury shares, made by Innosera ApS, which is controlled by Nordic Capital Fund XI and Permira Beteiligungsberatung GmbH [1]. - The offer period has been extended, and the offer price has been increased, prompting the Board to reiterate its recommendation [2][3]. Company Background - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including mpox and smallpox vaccines, and has a strong portfolio of travel vaccines [7].

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION COPENHAGEN, Denmark, October 15, 2025 – With reference to the announcement of 26 August 2025 (no. 24/2025) regarding the publication of the offer document (the "Offer Document") concerning the all-cash voluntary recommended public takeover offer to acquire all of the issued and outstanding shares (except treasury ...

Core Viewpoint - Innosera ApS, controlled by Nordic Capital Fund XI and Permira, has made a public takeover offer for Bavarian Nordic A/S, with the offer period expiring on 14 October 2025 at 11:59 p.m. (CEST) [1][2]. Group 1: Offer Details - The takeover offer is an all-cash voluntary board-recommended public offer to acquire all issued and outstanding shares of Bavarian Nordic, excluding treasury shares [1]. - The Offeror has received all necessary regulatory approvals, but the completion of the offer is contingent upon meeting a minimum acceptance condition of 75% of shares [2]. - Shareholders must submit their acceptance through their custodian bank or account holding institution before the offer period expires [3]. Group 2: Shareholder Guidance - Shareholders are encouraged to read the Offer Document and the Board Statement in full before deciding whether to accept the offer [4]. - Acceptance can be made online via the custodian bank's web banking solution or by using the acceptance form provided in the Offer Document [3]. Group 3: Company Background - Bavarian Nordic is a global vaccine company focused on improving health through innovative vaccines, including mpox and smallpox vaccines [6].

Core Viewpoint - Innosera ApS, controlled by Nordic Capital Fund XI and Permira, has extended its all-cash voluntary takeover offer for Bavarian Nordic A/S by two weeks to obtain the last outstanding regulatory approval necessary for the acquisition [1][2]. Group 1: Offer Details - The initial offer period, which began on August 26, 2025, was set to expire on September 30, 2025, but has now been extended to October 14, 2025, at 11:59 p.m. (CEST) [3][6]. - The Offeror has received regulatory approvals in several jurisdictions, including Australia, China, Saudi Arabia, Switzerland, and the United States, with the only remaining approval being from the European Union [2][5]. Group 2: Board Recommendations - Bavarian Nordic's Board of Directors has recommended that shareholders accept the Offer, and this recommendation remains unchanged despite the extension of the offer period [4][5]. Group 3: Timetable and Important Dates - The updated timetable includes the announcement of the preliminary result of the Offer on October 15, 2025, and the final result by October 20, 2025, with settlement of the offer price expected by November 11, 2025 [6][7].

Core Viewpoint - Bavarian Nordic A/S is undergoing a voluntary public takeover offer from Innosera ApS, backed by Nordic Capital Fund XI and Permira, with the Board of Directors recommending shareholders accept the offer as it presents immediate and attractive value [1][2]. Company Overview - Bavarian Nordic has evolved into a leading vaccine company since 2018, receiving multiple unsolicited inquiries for potential takeover bids [2]. - The company specializes in innovative vaccines, including mpox and smallpox vaccines, and has a strong portfolio of travel vaccines [4]. Offer Details - The Board of Directors has conducted a thorough analysis of the takeover offer, considering the company's financials, performance, and future prospects [2]. - The offer is positioned as an opportunity for shareholders to realize immediate value, which the Board finds attractive [2]. - The Board Statement regarding the offer is available in both Danish and English, with the Danish version prevailing in case of discrepancies [2][3]. Communication and Availability - Offer-related documents, including the Board Statement, are accessible on Bavarian Nordic's website, with notifications sent to registered shareholders [3].

Core Viewpoint - Kenmare Resources plc has terminated discussions regarding a potential offer from a consortium led by Oryx Global Partners Limited, citing that the proposals significantly undervalued the company and its prospects [3][12]. Company Overview - Kenmare Resources plc is a leading global producer of titanium minerals and zircon, operating the Moma Titanium Minerals Mine in northern Mozambique [3]. - The company is confident in its independent prospects and ability to achieve strategic and operational objectives, with a strong order book for the second half of 2025 [5]. Offer Discussions - Initial discussions began on March 6, 2025, when Kenmare received a non-binding proposal from the consortium for an all-cash offer at a price of 530 pence per share [7]. - The Board of Kenmare unanimously rejected the initial proposal, deeming it to undervalue the company [8]. - Subsequent engagement with the consortium revealed that they were only willing to proceed with an offer at a price substantially below the initial proposal, which was also rejected by the Board [11]. Future Plans - Kenmare is progressing with the Wet Concentrator Plant A upgrade project, with commissioning expected to begin in Q3 2025 [6]. - Ongoing discussions with the Government of Mozambique regarding the extension of the Implementation Agreement highlight the company's commitment to its investments and future plans in the region [7].

Core Viewpoint - Nykredit has successfully completed its takeover offer for Spar Nord, acquiring a significant majority of shares and voting rights, and plans to initiate compulsory acquisition of remaining shares [3][4][6]. Group 1: Takeover Offer Details - The offer period for Nykredit's takeover of Spar Nord expired on 20 May 2025, with preliminary results announced on 21 May 2025 [2]. - Nykredit received acceptances for 72,169,763 Spar Nord shares, equating to 94.15% of the total share capital and voting rights, leading to a total holding of 96.54% post-offer [3]. - All relevant public authority approvals have been obtained, confirming that the minimum acceptance condition has been met [4]. Group 2: Completion and Settlement - The completion and settlement of the offer will occur as per the terms outlined in the offer document, with cash payments expected to be made to shareholders on 28 May 2025 [5]. - Following the completion of the offer, Nykredit will seek to initiate a compulsory acquisition of shares held by minority shareholders [6]. Group 3: Delisting Plans - Nykredit intends to request the delisting of Spar Nord shares from Nasdaq Copenhagen A/S after acquiring over 90% of the share capital and voting rights [7].