Cyril Acquisition AB extends the acceptance period in the offer to the shareholders of and holders of convertible participation certificates issued by Cision AB (publ)
The Offer is not being made, and this press release may not be distributed, directly or indirectly, in or into, nor will any tender of shares be accepted from or on behalf of holders in, the United States of America, Australia, Canada, South Africa, New Zeeland or Japan or any other jurisdiction in which the making of the Offer, the distribution of this press release or the acceptance of any tender of shares would contravene applicable laws or regulations or require further offer documents, filings or other actions in addition to those required under Swedish law.
On 30 April 2008, Cyril Acquisition AB (“Cyril Acquisition”) announced an offer (the “Offer”) for all the shares in and convertible participation certificates issued by Cision AB (publ) (“Cision”). Cyril Acquisition offers a price of SEK 20 in cash per share and a price in cash equivalent to nominal value of SEK 33.94 per convertible participation certificate issued by Cision.
The Offer represents a premium of 66 per cent compared to the latest closing price for the Cision share, SEK 12.05, on 29 April 2008.
Cyril Acquisition has as of 21 May 2008 acquired 7,511,800 shares in Cision, representing 10.08 per cent of the total number of shares in Cision, at a highest price of SEK 20 per share.
On 20 May 2008, the Board of Directors of Cision announced its statement regarding the Offer, as well as a fairness opinion given by Lazard, stating the Offer to be, on balance, fair.
The Offer is inter alia conditional upon receipt of necessary approvals from competition authorities. Cyril Acquisition has received such approval from the competition authority in Sweden, and expects to have received approvals from the competition authorities in the United States of America, Germany and Norway in the beginning of June 2008. The receipt of approvals is viewed as a mere formality as Triton does not currently have any activities in Cision’s field of business.
In order to await the remaining approvals from competition authorities, and to allow the shareholders in Cision reasonable time to consider the Cision Board of Directors’ statement and Lazard’s fairness opinion regarding the Offer, Cyril Acquisition extends the acceptance period until 16.00 (CEST) on 2 June 2008.
The offer document and other information regarding the Offer can be obtained on www.tritonoffer.com and on www.nordea.se/placera.
Additional information:
For additional information about the Offer, please call Nordea at +46-8-20 69 42.