MANDATORY BID FOR GUNVOR GROUP IN RESPECT OF RÖRVIK TIMBER
Gunvor Group Ltd, “Gunvor Group”, has on 15 April 2014 announced that it has acquired 50 per cent of the shares in Meerwind AB, “Meerwind”. Gunvor Group now owns 100 per cent of Meerwind, which owns shares representing approximately 79 per cent of the shares in Rörvik Timber AB, “Rörvik Timber”. Rörvik Timber’s shares are traded on NASDAQ OMX Stockholm Small Cap.
Gunvor Group’s acquisition of shares in Meerwind results in an indirect change of control of Rörvik Timber and gives rise to an obligation for Gunvor Group to make a mandatory bid for all shares and to all shareholders in Rörvik Timber. The Swedish Securities Council has granted Gunvor Group an exemption for six month from the obligation to make a mandatory bid.
Gunvor Group intends to return within six months with information on any mandatory bid for the remaining shares of Rörvik Timber.
This press release may not be distributed, either directly or indirectly, in or to Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, the US or any country in which this would require additional documentation, registration or other measures above and beyond what is required by Swedish law. This press release is not a public offer to acquire shares.
For more information, please contact:
Seth Thomas Pietras
Corporate Affairs Director
+41 79 870 6290