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On 28 April 2009 Hakon Invest AB (publ) ("Hakon Invest") made a mandatory cash offer to the shareholders of Hemtex AB (publ) ("Hemtex") (the "Offer"). Hakon Invest offered SEK 23 in cash per share and an additional premium of SEK 4 in cash for each share if Hakon Invest after the Offer holds or reaches a total holding exceeding 50 per cent of the total number of shares and votes in Hemtex.
Hakon Invest has today acquired 3,697,928 shares in Hemtex, representing 9.0 per cent of the total number of shares and votes in Hemtex, for SEK 27 per share. Hakon Invest thereby controls 16,977,472 shares in Hemtex, representing 41.3 per cent of the total number of shares and votes in Hemtex.
As a consequence of the acquisitions, Hakon Invest revises the terms and conditions of the Offer and increases the consideration in the Offer to SEK 27 per share, thereby excluding the possibility to receive any additional premium. Hakon Invest will also prepare and file for registration and approval with the Swedish Financial Supervisory Authority ("SFSA") an additional addendum to the previously registered offer document and addendum. The offer document was registered with the SFSA on 25 May 2009 and the addendum on 12 June 2009.
In order to enable shareholders who have not yet accepted the Offer to participate in the Offer, Hakon Invest extends the acceptance period to 6 July 2009. Settlement in respect of shareholders that accept the Offer after 22 June 2009 is estimated to occur on or about 13 July 2009.
Settlement in respect of shareholders that accept the Offer during the original acceptance period, i.e. no later than on 22 June 2009, will not be delayed and is estimated to occur on 29 June 2009. As a consequence of the additional addendum to the offer document, shareholders of Hemtex will have a right to withdraw acceptances of the Offer within five business days after the announcement of the additional addendum, save that this shall not apply to shareholders whose acceptances have been settled. This means that shareholders who accept the Offer no later than on 22 June 2009, must withdraw their acceptances no later than on 26 June 2009, in order for the withdrawal to be effective.
Hakon Invest may acquire additional shares in Hemtex in the market during the extended acceptance period.
For more information, contact:
SVP Investments & Portfolio Companies Stein Petter Ski tel. +46-8-55 33 99 44
Head of IR Pernilla Grennfelt tel. +46-8-55 33 99 55
Hakon Invest, which is listed on Nasdaq OMX Stockholm, conducts active and long-term investment operations in retail-oriented companies in the Nordic region. Hakon Invest owns 40% of ICA AB, one of the Nordic region's leading retail companies with a focus on food. The portfolio also includes shares in Forma Publishing Group, Kjell & Company, Hemma, Cervera, inkClub and Hemtex. Further information about Hakon Invest is available at www.hakoninvest.se
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
SOURCE: Hakon Invest AB
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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