Nordstjernan increases its ownership in Salcomp to 52.3 percent
Nordstjernan AB (Nordstjernan) has on August 16, 2007 exercised its option to purchase 8,728,550 shares, corresponding to 22.4 percent of the entire share capital and votes, of the Finnish listed company Salcomp Plc (Salcomp) from EQT II B.V. (EQT). The acquisition will be subject to approval by the relevant competition authorities. Nordstjernan’s ownership in Salcomp will, after receiving such approval, amount to 52.3 percent and Nordstjernan will thereby reach the mandatory bid threshold according to the Finnish Securities Markets Act.
After receiving the relevant authority approvals, which have a handling time of approximately one month, Nordstjernan will as required by the Finnish Securities Markets Act make a mandatory bid for all outstanding shares in Salcomp at the highest price for which Nordstjernan has acquired shares in Salcomp during the last six months, i.e. 4.01 EUR per share.
“Salcomp has continued to develop well, achieving strong results in the second quarter of 2007. We look forward to take part in the future development of the company,” says Tomas Billing, President of Nordstjernan. “We will now, after the relevant authority approvals, make a mandatory bid as required by the Finnish Securities Markets Act. However, we do not expect the bid to gain large acceptance, as the offered price is below the current price on the stock exchange.”
Please refer questions to:
Tomas Billing, President of Nordstjernan, +46 8 788 50 18 or +46 706 66 33 46