|Bid||3.0200 x 400000|
|Ask||3.0450 x 100000|
|Day's range||3.0000 - 3.0400|
|52-week range||0.7920 - 3.3100|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Reference is made to the stock exchange release dated 22 October 2020, where it was announced that Otello's subsidiary Bemobi has made a preliminary filing for a listing of the Bemobi business in Brazil. The board has now decided to proceed with the listing process by making a second filing with the Brazilian Securities Commission and to commence a road show for the purpose of attract investors for an initial public offering ("IPO") of Bemobi. It is expected that the first day of trading will occur mid-February 2021, but investors should note that the listing is subject to market conditions and the fulfillment of several outstanding items and matters being concluded to Otello's satisfaction, including the valuation of the Bemobi business. Consequently, no assurances can be or are given that the IPO and listing process will proceed and be completed.
On 4 August 2020 Sand Grove Capital Management LLP ("Sand Grove"), which owns or has economic interest in shares representing approximately 25.4% of the common stock of Otello Corporation ASA (the "Company" or "Otello"), requested that the Company’s Board of Directors convene an Extraordinary General Meeting ("EGM") to vote on proposed changes to the Board and Nomination Committee.