Comment from the Board of Directors of Scandinavian Biogas Fuels International AB (publ) about the mandatory tender offer from Aneo Renewables Holding AS
Stockholm, 23 November 2022
Aneo Renewables Holding AS (“Aneo”) has today announced a mandatory cash tender offer for the shares in Scandinavian Biogas Fuels International AB (publ), reg.no 556528-4733 (”Scandinavian Biogas”) at a price of SEK 15.45 per share (the “Offer”).
The Offer is made because Aneo’s shareholding in Scandinavian Biogas, following Aneo’s participation in the directed share issue that the Board of Directors in Scandinavian Biogas resolved on 5 October 2022, and which was approved by the subsequent extraordinary general meeting held on 27 October 2022, now correspond to approximately 36.1 percent of the total number of shares and votes in Scandinavian Biogas. Aneo is therefore, in accordance with the Swedish Corporate Governance Board’s takeover rules for certain trading platforms (the “Takeover Rules”), obliged to make a mandatory tender offer for the remaining shares in Scandinavian Biogas.
For further information about the Offer, please see Aneo’s announcement of the Offer which is available on Aneo’s website www.aneo.com.
The acceptance period of the Offer is expected to commence on or around 28 November 2022 and expire on or around 19 December 2022. An offer document regarding the Offer is expected to be made public shortly before the start of the acceptance period.
The Board of Directors of Scandinavian Biogas will now evaluate the Offer and obtain a valuation opinion. The Board of Directors will no later than two weeks prior to the expiry of the acceptance period announce its opinion of the Offer, including the reasons for its opinion. Håkon Welde, Head of M&A and Corporate Ownership at TrønderEnergi Vekst Holding AS, who together with Hitec Vision Advisory AS owns Aneo, will, due to a conflict of interest, not participate in the Board of Directors’ processing of or resolutions on matters related to the Offer. Håkon Welde does not submit or participate in the Offer.
The information was submitted for publication, through the agency of the contact person, on 23-11-2022 20:54 CET.
For further information, please contact:
Matti Vikkula CEO
Mobile +46 (0) 70 597 99 38
E mail matti.vikkula@scandinavianbiogas.com
Scandinavian Biogas is a leading Nordic producer of biogas for vehicle fuel and fertilizer. Biogas is CO2-neutral and made from sewage and household, agriculture as well as industrial organic waste. Today Scandinavian Biogas has facilities in Sweden, Norway and Korea. In 2021, the company delivered 366 GWh of energy. Scandinavian Biogas has 100 employees and total net sales of SEK 394 million in 2021. The head office is located in Stockholm and the company is listed on Nasdaq First North. Certified advisor is Erik Penser Bank AB, telephone: +46 (0) 8-463 80 00, certifiedadviser(at)penser.se. www.scandinavianbiogas.com