Hemtex has appointed adviser for evaluation of takeover offer

Hemtex AB (publ) has commissioned Lazard as its adviser concerning the offer made to Hemtex shareholders by Hakon Invest AB.

On April 28, 2009 Hakon Invest AB (publ) (“Hakon Invest”) announced a cash tender offer to the shareholders in Hemtex AB (publ) (“Hemtex”) in compliance with Swedish rules for mandatory offers. Hakon Invest is offering SEK 23 cash per share together with an add-on premium of SEK 4 per share which will be payable if Hakon Invest reaches a shareholding exceeding 50% of the shares and votes in Hemtex.

Hakon Invest has indicated that the acceptance period will end on June 22, 2009 and the Board of Directors of Hemtex intends to leave a statement, with the aid of independent advisors, regarding the mandatory offer in reasonable time before the acceptance period runs out.

The Hemtex Board of Directors has now commissioned Lazard to undertake an independent evaluation of the offer, a process that has been initiated immediately.

”We have received a large number of offers from various players who have been interested in helping us with the evaluation decided on by the Board of Directors. We have concluded that Lazard has a good reputation for its competence in this area and that its broad international network of contacts with respect to assignments of this nature provides an opportunity for them to satisfactorily illuminate the matter,” says Hemtex’s Chairman of the Board, Mats Olsson.