English

ELISA MAKES A TENDER OFFER TO THE SHAREHOLDERS OF LOUNET OY

Report this content 
ELISA CORPORATION STOCK EXCHANGE RELEASE 9 JUNE 2006 AT 8.30am


ELISA MAKES A TENDER OFFER TO THE SHAREHOLDERS OF LOUNET OY

Elisa is offering to buy all the shares in Lounet Oy. Elisa will pay EUR 1,310
for each share certificate for 1,000 shares in Lounet Oy, in addition to which
the Board of Directors of Lounet Oy will propose to the company's General Meeting
that a dividend of EUR 90 be paid for each share certificate for 2005. The total
price of the offer after the dividend payment is approximately EUR 14 million.
The tender offer begins on 21 June 2006 and ends on approximately 18 August 2006.
The tender offer document, terms and conditions of the tender offer and places of
purchase will be published on 20 June 2006.

Prior to the tender offer and after the invalidation of Lounet Oy's treasury
shares mentioned below, the Elisa Group owns approximately 47 per cent of Lounet
Oy's shares.

Before the tender offer begins, the Board of Directors for Lounet Oy will convene
an Extraordinary General Meeting to decide on matters including the invalidation
of a total of 1,784,960 treasury shares owned by Lounet Oy and the above-
mentioned dividend payment. The Board of Directors of Lounet Oy has announced
that it recommends that all shareholders in Lounet Oy approve the tender offer.

Lounet Oy Oy booked a revenue of EUR 5.7 million in 1Q/2006 and the company's
EBITDA totalled EUR 1.3 million. The company's liquid assets and real estate
after the dividend payment total approximately EUR 14 million. Lounet has
approximately 100 employees and 9,000 shareholders.

Lounet Oy is already consolidated in Elisa's consolidated financial statements,
for which reason the financial effects of the acquisition on Elisa's consolidated
financial statements remain small.

ELISA CORPORATION

Vesa Sahivirta
Director, IR and Financial Communication

Further information:

Mr Jari Kinnunen, CFO
tel. +358 10 262 9510

Mr Pekka Ekstam, M&A Director
tel. +358 10 262 7735

Distribution:

Helsinki Stock Exchange
Principal media

Subscribe