Ratos has acquired over 90% of the capital and votes in HL Display
2010-08-16
This information is disclosed in accordance with the Securities Markets Act and NASDAQ OMX Stockholm's rules regarding public offers on the stock market.
This press release may not be distributed, directly or indirectly, in or into, the United States of America, Australia, Canada, New Zealand, Switzerland, South Africa or Japan. The Offer is not being made to (and acceptances will not be accepted from) persons in those countries or elsewhere where their participation requires further offer documents, filings or other measures in addition to those required by Swedish law.
Ratos's offer to the shareholders of HL Display has been accepted by shareholders representing 3,039,486 class B shares, corresponding to 9.8% of the capital and 4.8% of the votes. Together with shares acquired outside the offer, Ratos owns 98.7% of the capital and 99.4% of the votes in HL Display. The acceptance period is extended until 27 August 2010.
Ratos announced on 2 June 2010 an offer to the shareholders of HL Display in accordance with the mandatory bid rules to acquire all outstanding shares for a cash consideration of SEK 49 per share. On 20 July 2010 it was announced that approval from relevant competition authorities has been received and that consequently all conditions for the offer have been fulfilled and that the offer will be completed.
On 2 June 2010 Ratos owned (including shares acquired under the agreement with the Remius family) 3,652,096 class A shares and 13,982,048 class B shares, corresponding to 57.0% of the capital and 79.1% of the votes in HL Display. Following announcement of the offer Ratos has acquired 9,859,651 class B shares (corresponding to 31.9% of the capital and 15.5% of the votes) on NASDAQ OMX outside the offer. The acquisitions have been made at a maximum price of SEK 49 per share. Ratos owns in total 98.7% of the capital and 99.4% of the votes in HL Display. Ratos may acquire additional shares in HL Display in the market.
To enable participation in the offer by the shareholders who not yet have accepted the offer the acceptance period is extended until 27 August 2010 at 5.00 p.m.
For shareholders in HL Display that have accepted the offer during the regular acceptance period, settlement is expected to commence on 20 August 2010. For those who accept the offer during the extended acceptance period, settlement is expected to commence on 3 September 2010. As set out in the offer document, Ratos reserves the right to extend the acceptance period and postpone the settlement date.
Since Ratos holds over 90% of the shares outstanding in HL Display, Ratos intends to shortly call for compulsory acquisition of the remaining shares outstanding in HL Display and act to have HL Display's share de-listed from NASDAQ OMX Stockholm.
For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 8 700 17 20
Financial calendar from Ratos:
Interim Report January - June 2010 20 August 2010
Interim Report January - September 2010 4 November 2010
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos offers investors a unique investment opportunity. Ratos's equity is approximately SEK 15 billion and has a market capitalisation of approximately SEK 32 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC, Medisize, SB Seating, Stofa, Superfos and Other holdings.
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