BEWI – Shareholders representing the remaining 50 per cent of shares in Jackon accept the offer

With reference to the stock exchange notice issued by BEWI ASA ("BEWI" or the "Company") on 1 October 2021 regarding its offer to acquire all shares in Jackon Holding ("Jackon") and the announcement on 3 October 2021 regarding the acceptance received for 50 per cent of the shares in Jackon, BEWI now announces that the Company has received acceptances of the offer from shareholders holding the remaining 50 per cent of the shares in Jackon. All shareholders in Jackon have accordingly accepted the offer and share purchase agreements have been entered into between the parties.

The Jackon shareholders were offered consideration in the form of cash or new BEWI shares subject to a 12-months lock-up. As set out in the Company's announcement of 3 October 2021, HAAS AS, the holding company of the Akselsen family, has chosen to receive its consideration in the form of new BEWI shares. The remaining shareholders have chosen to receive their consideration in cash. The cash consideration will be financed through cash sources available to BEWI.

Completion of the transaction is subject to satisfactory due diligence, resolution of the BEWI general meeting to issue the consideration shares, and customary closing conditions, including regulatory approvals. The majority shareholder of BEWI, Frøya Invest AS, has confirmed that they will vote in favour of the issuance of the consideration shares.

The transaction is expected to be completed during the first half of 2022.

Contacts:
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959
 

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on 15 October 2021.