Capio Group Services AB announces outcome of the extended acceptance period of the recommended cash offer to the shareholders of GHP Specialty Care AB

This press release is not an offer, whether directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdiction would be prohibited by applicable law. Shareholders should refer to the offer restrictions included in the section titled “Important information” at the end of this press release and in the offer document published on the transaction website (www.healthcare-nordic.com/en). Shareholders in the United States should also refer to the section titled “Special notice to shareholders in the United States” at the end of this press release.

Press release
May 11, 2022

On March 7, 2022, Capio Group Services AB (“Capio”), which is a wholly-owned subsidiary of Capio AB (publ) and part of the Ramsay Santé Group, announced a recommended public offer to the shareholders of GHP Specialty Care AB (“GHP”) to tender all shares in GHP to Capio (the “Offer”).

On April 25, 2022, Capio announced that the Offer had been accepted by shareholders holding in total 60,731,068 shares and votes in GHP, corresponding to approximately 86.4 percent of the total number of shares and votes in GHP,[1] and that Capio, as previously communicated, had agreed to acquire MJW Invest Förvaltning AB[2] from MJW Invest AB. MJW Invest Förvaltning AB owns 7,109,950 shares in GHP, corresponding to approximately 10.1 percent of the total number of shares and votes in GHP. Hence, Capio controlled in total 67,841,018 shares and votes in GHP, corresponding to approximately 96.6 percent of the total number of shares and votes in GHP, and declared the Offer unconditional.

During the extended acceptance period which expired on May 9, 2022, the Offer has been accepted by shareholders holding in total 1,073,207 shares and votes in GHP, corresponding to approximately 1.5 percent of the total number of shares and votes in GHP.

After the end of the extended acceptance period, Capio thus controls a total of 68,914,225 shares and votes in GHP, corresponding to approximately 98.1 percent of the total number of shares and votes in GHP.

The separate offer to the holder of warrants issued by GHP under an incentive program, has been accepted by holders of all 340,000 warrants allotted and transferred to participants in the incentive program.

Except as set out above, neither Capio nor Capio AB (publ) has acquired any GHP shares or any financial instruments that give a financial exposure to GHP shares outside of the Offer.

Settlement for shares tendered in the Offer during the extended acceptance period is expected to commence on or around May 18, 2022. Capio will not extend the acceptance period further.

Capio has initiate a compulsory acquisition procedure in respect of the remaining shares in GHP under the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)). GHP has applied for delisting from Nasdaq Stockholm, and the last day of trading in the GHP share on Nasdaq Stockholm will be May 20, 2022.

For further information, please contact:

Henrik Brehmer
Chief Strategy & Public Affairs Officer
Telephone: +46 76 111 34 14
Email: henrik.brehmer@capio.com

Information about the Offer is available at:

www.healthcare-nordic.com/en

The information was submitted for publication on May 11, 2022, 08:30 CEST.

Important information

This press release has been published in Swedish and English. In the event of any discrepancy in content between the two language versions, the Swedish version shall prevail.

The Offer is not being made, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand or South Africa by use of mail or any other communication means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the Internet) of interstate or foreign commerce, or of any facility of national securities exchange or other trading venue, of Australia, Canada, Hong Kong, Japan, New Zealand or South Africa, and the Offer cannot be accepted by any such use or by such means, instrumentality or facility of, in or from, Australia, Canada, Hong Kong, Japan, New Zealand or South Africa. Accordingly, this press release or any documentation relating to the Offer are not being and should not be sent, mailed or otherwise distributed or forwarded in or into Australia, Canada, Hong Kong, Japan, New Zealand or South Africa.

This press release is not being, and must not be, sent to shareholders with registered addresses in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa. Banks, brokers, dealers and other nominees holding shares for persons in Australia, Canada, Hong Kong, Japan, New Zealand or South Africa must not forward this press release or any other document received in connection with the Offer to such persons.

The Offer, the information and documents contained in this press release are not being made and have not been approved by an authorized person for the purposes of section 21 of the UK Financial Services and Markets Act 2000 (the “FSMA”). Accordingly, the information and documents contained in this press release are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of the information and documents contained in this press release is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is a communication by or on behalf of a body corporate which relates to a transaction to acquire day to day control of the affairs of a body corporate; or to acquire 50 percent or more of the voting shares in a body corporate, within article 62 of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005.

Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections and other benefits of the Offer, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipates”, “intends”, “expects”, “believes”, or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Capio. Any such forward-looking statements speak only as of the date on which they are made and Capio has no obligation (and undertakes no such obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except for in accordance with applicable laws and regulations.

Nordea is acting exclusively for Capio and no one else in connection with the Offer. Nordea will not regard any other person (whether or not a recipient of this press release) as a client in relation to the Offer and will not be responsible to anyone other than Capio for providing the protections afforded to its clients nor for the giving of advice in relation to the Offer or any other transaction, matter or arrangement referred to in this press release.

Special notice to shareholders in the United States

The Offer described in this press release is made for the issued and outstanding shares of GHP, a company incorporated under Swedish law, and is subject to Swedish disclosure and procedural requirements, which may be different from those of the United States. The Offer is made in the United States pursuant to Section 14(e) of the U.S. Securities Exchange Act of 1934, as amended (the “U.S. Exchange Act”) and Regulation 14E thereunder, to the extent applicable, and otherwise in compliance with the disclosure and procedural requirements of Swedish law, including with respect to withdrawal rights, the Offer timetable, notices of extensions, announcements of results, settlement procedures (including as regards to the time when payment of the consideration is rendered) and waivers of conditions, which may be different from requirements or customary practices in relation to U.S. domestic tender offers. Holders of the shares of GHP domiciled in the United States (the “U.S. Holders”) are encouraged to consult with their own advisors regarding the Offer.

Nordea is not registered as a broker or dealer in the United States and will not be engaging in direct communications relating to the Offer with investors located within the United States (whether on a reverse-inquiry basis or otherwise).

GHP’s financial statements and all financial information included herein, or any other documents relating to the Offer, have been or will be prepared in accordance with IFRS and may not be comparable to the financial statements or financial information of companies in the United States or other companies whose financial statements are prepared in accordance with U.S. generally accepted accounting principles. The Offer is made to the U.S. Holders on the same terms and conditions as those made to all other shareholders of GHP to whom an offer is made. Any information documents, including the offer document, are being disseminated to U.S. Holders on a basis comparable to the method pursuant to which such documents are provided to GHP’s other shareholders.

The Offer, which is subject to Swedish law, is being made to the U.S. Holders in accordance with the applicable U.S. securities laws, and applicable exemptions thereunder. To the extent the Offer is subject to U.S. securities laws, those laws only apply to U.S. Holders and thus will not give rise to claims on the part of any other person. The U.S. Holders should consider that the price for the Offer is being paid in SEK and that no adjustment will be made based on any changes in the exchange rate.

It may be difficult for GHP’s shareholders to enforce their rights and any claims they may have arising under the U.S. federal or state securities laws in connection with the Offer, since GHP and Capio are located in countries other than the United States, and some or all of their officers and directors may be residents of countries other than the United States. GHP’s shareholders may not be able to sue GHP or Capio or their respective officers or directors in a non-U.S. court for violations of U.S. securities laws. Further, it may be difficult to compel GHP or Capio and/or their respective affiliates to subject themselves to the jurisdiction or judgment of a U.S. court.

To the extent permissible under applicable law or regulations, Capio and its affiliates or its brokers and its brokers’ affiliates (acting as agents for Capio or its affiliates, as applicable) may from time to time and during the pendency of the Offer, and other than pursuant to the Offer, directly or indirectly purchase or arrange to purchase shares of GHP outside the United States, or any securities that are convertible into, exchangeable for or exercisable for such shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices, and information about such purchases will be disclosed by means of a press release or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to Capio may also engage in ordinary course trading activities in securities of GHP, which may include purchases or arrangements to purchase such securities as long as such purchases or arrangements are in compliance with the applicable law. Any information about such purchases will be announced in Swedish and in a non-binding English translation available to the U.S. Holders through relevant electronic media if, and to the extent, such announcement is required under applicable Swedish or U.S. law, rules or regulations.

The receipt of cash pursuant to the Offer by a U.S. Holder may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each shareholder is urged to consult an independent professional adviser regarding the tax consequences of accepting the Offer. Neither Capio nor any of its affiliates and their respective directors, officers, employees or agents or any other person acting on their behalf in connection with the Offer shall be responsible for any tax effects or liabilities resulting from acceptance of this Offer.

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY U.S. STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THE OFFER, PASSED ANY COMMENTS UPON THE MERITS OR FAIRNESS OF THE OFFER, PASSED ANY COMMENT UPON THE ADEQUACY OR COMPLETENESS OF THIS PRESS RELEASE OR PASSED ANY COMMENT ON WHETHER THE CONTENT IN THIS PRESS RELEASE IS CORRECT OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.