Rite Internet Ventures Holding AB launched a mandatory offer to acquire remaining 69.89% stake in Nelly Group AB (publ) (OM:NELLY) from shareholders for approximately SEK 350 million on May 8, 2024. Rite Ventures launched a mandatory offer of SEK 17.00 per share to the shareholders of Nelly. Prior to the transaction, Rite Ventures holds a total of 9,179,571 shares, representing 30.62% stake in Nelly Group. The Board of Nelly has resolved to form an independent bid committee to handle matters relating to the Offer, comprising the independent board members Ebba Ljungerud (chair) and Lennart Sparud. The acceptance period for the Offer is estimated to commence on May 10, 2024 and expire around June 7, 2024. As of May 8, 2024, The independent bid committee of Nelly Group AB unanimously recommends the shareholders of Nelly not to accept the mandatory offer made by Rite Internet Ventures Holding AB. Completion of the Offer is not subject to any conditions. The Board member Stefan Palm has undertaken not to accept the Offer and does therefore not participate in the Board's handling of matters relating to the Offer. The bid committee has further considered the independent fairness opinion from Svalner, according to which the Offer, subject to the conditions and limitations stated in the opinion, is not considered fair from a financial point of view to the shareholders of Nelly.

Nelly Group's independent bid committee has engaged Advokatfirman Cederquist as legal advisor in connection with the Offer. Rite Ventures has engaged Lenner & Partners Corporate Finance AB as financial advisor and David Andersson, Oskar Nilsson, Helena Göransson and Nour Makie of Advokatfirman Vinge as legal advisor in connection with the Offer. The bid committee has further obtained an independent fairness opinion from Svalner Skatt & Transaktion KB.