Members of Semcon's management have accepted JCE's Offer
This press release is not and may not, directly or indirectly, be distributed or made public in the United States of America, Australia, Japan or Canada or any other country where such distribution requires registration or any other measures than those required by Swedish law. The Offers are not being made to persons in those jurisdictions or elsewhere, whose participation requires further documentation, filings or other measures in addition to those required by Swedish law.
On 2 October 2006, JCE Group AB ("JCE") announced a public offer to the shareholders of Semcon AB ("Semcon") to tender all shares to JCE (the "Offer"). Earlier today, JCE announced that shareholders representing approximately 22.1 percent of the capital and the votes have accepted the Offer and that JCE completes the Offer and extends the acceptance period until 12 December 2006.
JCE has received confirmation that a number of members of Semcon's management and employees with a total shareholding of approximately 260 000 shares, representing approximately 1.5 percent of the capital and the votes, have accepted the Offer.
"This can only be interpreted as the management having a different view on our offer than Semcon's board. The board of Semcon and the chairman of the board have at several occasions indicated that a number of other interested parties are willing to offer a higher bid and have recommended the shareholders of Semcon not to accept our cash offer of SEK 65 per share. Despite the fact that at least one interested party has conducted a due diligence of the company, a higher bid has not been presented by the board of Semcon.
Given that the management of the company views positively on us becoming the largest shareholder in Semcon, convinces us that we have submitted an attractive offer to Semcon's shareholders" – says
J Christer Ericsson, Chairman of the board and CEO of JCE.
Gothenburg, 23 November 2006
JCE Group AB
For further information, contact:
CEO, Consafe IT AB: Per Edlund
Phone: +46 (0) 8 792 95 00
Mobile: +46 (0) 708 28 93 56
Chairman of the board and CEO, JCE Group AB: J Christer Ericsson
Phone: +46 (0) 31 759 55 00
Mobile: +46 (0) 708 19 91 30