ASX, APX, Appen, Withdrawal of Innodata’s non-binding indicative proposal for Appen

On 12 March 2024, Appen received a price and volume query letter from the ASX which it responded to on that day. As part of Appen’s response to the price and volume query letter, it disclosed that it had received a highly conditional, confidential, non-binding, indicative proposal from Innodata, in relation to a potential combination of the two companies (the Indicative Proposal).

Overnight, Innodata informed Appen that it was withdrawing the Indicative Proposal on the basis that it was intended to remain confidential. Appen will continue to update shareholders in accordance with its continuous disclosure obligations.