News: NTO Nitro Software Notes Unsolicited Announcement Made By Technology Growth Capital

Oct 31 (Reuters) - Nitro Software Ltd (NTO) :

• TAKEOVER UPDATE
• NOTES UNSOLICITED ANNOUNCEMENT MADE BY TECHNOLOGY GROWTH CAPITAL OF ITS INTENTION TO MAKE AN OFF-MARKET TAKEOVER OFFER
• NITRO BOARD HAS CONCLUDED POTENTIA TAKEOVER BID UNDERVALUES NITRO
• UNANIMOUSLY REJECTS POTENTIA TAKEOVER BID AS NOT BEING IN BEST INTERESTS OF SHAREHOLDERS
• CASCADE PARENT LIMITED TRADING AS ALLUDO HAS MADE A PROPOSAL THROUGH ONE OF ITS SUBSIDIARIES TO ACQUIRE 100% OF NITRO
• ALLUDO PROPOSAL AT A$2.00 CASH PER SHARE
• NITRO SHAREHOLDERS SHOULD TAKE NO ACTION AT THIS TIME
• NO CERTAINTY THAT ALLUDO PROPOSAL WILL RESULT IN A BINDING TRANSACTION BEING PUT FORWARD TO SHAREHOLDERS FOR THEIR CONSIDERATION
• BOARD'S INTENTION TO UNANIMOUSLY RECOMMEND THAT SHAREHOLDERS VOTE IN FAVOUR OF ALLUDO SCHEME
• ALLUDO HAS INDICATED THAT FUNDING FOR ALLUDO PROPOSAL WILL BE OBTAINED PRIMARILY FROM EQUITY SOURCES