Statement regarding Scanfil Oyj’s public tender offer for PartnerTech AB
On 25 May 2015, Scanfil Oyj (“Scanfil”) made a public cash offer to the shareholders in PartnerTech AB (“PartnerTech”) to tender all shares in PartnerTech to Scanfil for a price of SEK 35 per share (“the Offer”). The shares in PartnerTech are listed on Nasdaq OMX Stockholm, Small Cap.
Bure, with a holding of 5,404,140 shares in PartnerTech, equal to approximately 42.7 per cent of the total number of shares and votes in PartnerTech, has undertaken towards Scanfil to accept the Offer. This commitment is conditional pursuant to the rules in the Takeover Recommendation, which among other things includes a Five Per Cent Threshold and a Matching Right. Furthermore, the commitment is conditional on Scanfil’s compliance with the applicable laws and regulations in Nasdaq Stockholm’s rules regarding public takeover offers in the stock market, including the Swedish Security Council’s statements and interpretation.
The Board of Directors of PartnerTech has decided to recommend to the shareholders of PartnerTech to accept the Offer. Bengt Engström and Gösta Johannesson, Board members in PartnerTech who are active at Bure, have not taken part in the Board of PartnerTech’s deliberations or resolution regarding the Offer.
As the largest shareholder, Bure has played an important role in PartnerTech’s development since 1999, when Skanditek Industriförvaltning, which later merged with Bure, originally invested in PartnerTech. Under the terms of the Offer, Bure would receive SEK 189.1M for the holding in PartnerTech, which should be compared to the value of SEK 118.9M at 31 March 2015.
“We consider Scanfil’s offer representing a premium of 52 per cent compared to the volume-weighted average price paid during the past 30 days to be attractive for Bure’s shareholders. In addition, we are positive towards the industrial combination created in the merger between Scanfil and PartnerTech,” says Henrik Blomquist, CEO of Bure.
Stockholm, 25 May 2015
Bure Equity AB (publ)
For more information, contact:
Henrik Blomquist, CEO
Tel. +46 8 – 614 00 20
The information contained herein is subject to the disclosure requirements of Bure Equity AB under the Swedish Securities Market Act. The information has been publicly communicated on 25 May 2015, 8:30 am CEST.