The Board of Directors of Peab Industri has received an intention from Peab’s major shareholders to propose Peab to submit a public tender offer to the shareholders of Peab Industri
Shareholders in Peab AB (publ) (“Peab”) representing approximately 71 per cent of the votes in the company have requested that the board of Peab summons an Extraordinary General Meeting to, according to a proposal made by these shareholders (the “Proposal”), decide on a public tender offer to the shareholders and convertible debenture holders of Peab Industri AB (publ) (“Peab Industri”) to tender all their shares and convertible debentures issued by Peab Industri to Peab (the “Offer”) and undertake all necessary resolutions in order to implement the Offer. Peab’s and Peab Industri’s Class B shares are listed on OMX Nordic Exchange Stockholm AB (“OMX”), Mid cap. The Class A shares of each company are unlisted, as are the convertible debentures.
Peab offers three (3) newly-issued Class B shares in Peab for two (2) Class B shares in Peab Industri and three (3) newly-issued Class A shares in Peab for two (2) Class A shares in Peab Industri. The Offer entails an offer premium of approximately 25 per cent based on the last transaction price for the respective company’s Class B share as per October 14, 2008. The Offer entails an offer premium of approximately 22 per cent based on the average last transaction price for the respective company’s Class B share during the past ten trading days.
Shareholders of Peab Industri representing approximately 71 per cent of the votes and 42 per cent of the shares in Peab Industri have undertaken to accept the Offer
Shareholders of Peab representing approximately 71 per cent of the votes have announced that they will vote in favour of necessary resolutions at an Extraordinary General Meeting of Peab in order to facilitate the issuance of shares as consideration in the Offer. The acceptance period is expected to be between November 13 and December 3, 2008
For further details regarding the Offer, we refer to Peab’s press release to summon an Extraordinary General Meeting to decide on a public tender offer to the shareholders of Peab Industri.
The Board of Directors in Peab Industri AB (publ)
For additional information, please contact:
Jan Segerberg, Board Member of Peab Industri, +46 431-44 96 04
Peab Industri AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.55 am on 15 October 2008.
Previous press releases from Peab Industri are available at www.peabindustri.com.