Squeeze-out by CANCOM of the minority shareholders of Pironet.

CANCOM, a majority shareholder of Pironet, filed a motion at the General Meeting to transfer the shares of the minority shareholders to CANCOM against payment of a cash settlement of €9.64 ($10.8) per Pironet share. Based on this settlement price, the cash settlement to be paid by CANCOM to the minority shareholders of Pironet amounts to approximately €6.9m. Pironet is a Germany-based provider of cloud computing services. The CANCOM Group's range of IT solutions includes consulting, implementation, services and the operation of IT systems. Customers benefit from the extensive expertise and an innovative portfolio that covers the IT requirements of companies necessary for a successful digital transformation.