ANNOUNCEMENT FROM THE BOARD IN LIGHT OF THE MANDATORY BID MADE BY STEENORD
The Board of Agrokultura AB has today received the announced mandatory bid by the new major shareholder Steenord Corp (“Steenord”). The offered price per share is 4.50 SEK in cash and the bid is valid without any further conditions for execution except for the required competition clearance. The formal offer document is expected to be announced on 4 September 2014, and the period of acceptance of the bid is expected to be between the 8 September and the 24 October 2014. The press release, whereby Steenord launches the offer, is published below.
As the Board previously announced, it looks positively on the new major shareholders’ intentions for Agrokultura and on the fact that the mandatory bid rules of First North are followed. The Board welcomes the new specific cash offer which is clearly in excess of the share price during a considerable time before Steenord started buying shares of Agrokultura. According to existing rules, it falls upon the Board to make a statement to the shareholders, at the latest two weeks before the expiry of the acceptance period, regarding whether the shareholders should accept the offer or not. The Board will therefore return with a more detailed announcement regarding the offer within the aforementioned timeframe, whereby the Board also will be able to take Steenord’s formal offer document into account.
Stockholm on 28 August 2014
The Board of Directors
About Agrokultura AB (publ)
Agrokultura invests in farmland and produces agricultural commodities in Russia and Ukraine. The Group aims to generate an attractive return on invested capital by optimally utilizing its agricultural land bank through crop production, livestock and related operations. Shares in Agrokultura are listed in Sweden on the Nasdaq OMX First North exchange under the ticker AGRA and the Group’s Certified Adviser is Remium Nordic AB.