Nordstjernan makes mandatory tender offer for all outstanding shares and options in Salcomp
NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, IN WHOLE OR IN PART, INTO OR FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW INCLUDING AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA, JAPAN, SOUTH AFRICA, CANADA AND THE UNITED STATES.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY OR SOLICITATION OF AN OFFER TO SELL SHARES AND OPTIONS IN SALCOMP. IN THIS RESPECT NORDSTJERNAN REFERS TO THE FORMAL PRESS RELEASE WHICH MUST BE ISSUED UNDER THE FINNISH SECURITIES MARKETS ACT.
Nordstjernan AB (“Nordstjernan”) has on August 16, 2007 exercised the option included in the agreement entered into on June 25, 2007 with EQT II B.V. on the Salcomp Plc (“Salcomp”) shares. The consummation of the sale and purchase of the shares was conditional on the approval of the relevant competition authorities. Relevant approval was received on September 7, 2007 and the sale and purchase of the shares was thereafter consummated on September 12, 2007. Following the acquisition, Nordstjernan holds 20,382,131 shares in Salcomp, which corresponds to 52.3 per cent of all shares and votes in Salcomp.
Accordingly, Nordstjernan has today become obligated, under the Finnish Securities Markets Act, Chapter 6, Section 10, to make a mandatory tender offer for all of the remaining shares and securities entitling to shares issued by Salcomp.
Nordstjernan intends to make and publish the formal mandatory public tender offer within short time. The offer price for shares is, as announced earlier, the highest price for which Nordstjernan has acquired shares in Salcomp, i.e. € 4.01 per share.