PHD.L Regulatory News (PHD)

Proactis Holdings PLC

Posting of Annual Report & Accounts and Notice of AGM

Proactis Holdings PLC ("Proactis", the "Group" or the "Company"), the global spend management solution provider, announces that it has today posted to shareholders its Annual Report and Accounts for the year ended 31 July 2019.

This includes a notice of the Company's Annual General Meeting ("AGM"), to be held at 10.00am on Wednesday 29 January 2020 at the offices of finnCap, 60 New Broad Street, London, EC2M 1JJ (the "AGM Notice"). The AGM Notice also includes details of a proposed capital reduction.

The Annual Report and Accounts and AGM Notice are available on the Company's website: www.proactis.com/investors.

Update on Formal Sales Process ("FSP")

As the Company stated at the time of the Final Results for the Year Ended 31 July 2019 announced on 31 October 2019, the Board has thoroughly reviewed and assessed the credibility of a number of expressions of interest ("EOIs") following the Company's announcement of the FSP on 29 July 2019. Certain EOIs have led to more advanced discussions including the provision of detailed financial information with regard to the business in a dataroom. The Board has also completed a number of management team presentations and are now evaluating a number of proposals with a view to potentially proceeding to a final stage of due diligence. The process remains ongoing. The Board reiterates that there can be no certainty that any offer will be forthcoming or the terms of any such offer.

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Notes to Editors:

Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in approximately 1,000 buying organisations around the world from the commercial, public and not-for-profit sectors.