OUTCOME OF EQT VII’S MANDATORY CASH OFFER TO THE SHAREHOLDERS IN IFS AND FINAL EXTENSION OF THE ACCEPTANCE PERIOD
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, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America, 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.
Press release
26 January 2016
EQT VII[1] (”EQT”), through IGT Holding IV AB[2] (”IGT Holding”), on 7 December 2015 announced a mandatory cash offer (the “Offer”) to the shareholders in Industrial and Financial Systems, IFS Aktiebolag (publ) (”IFS” or the “Company”) to acquire all outstanding A- and B-shares in IFS at a price of SEK 362.50 per share, regardless of share class.
After the end of the extended acceptance period, IGT Holding holds in total 20,421,146 shares (of which 995,677 are A-shares and 19,425,469 are B-shares) in IFS, corresponding to 86.91 per cent of the total number of votes and 83.20 per cent of the total number of shares in the Company. [3]
On 7 January 2016, it was announced that IGT Holding held 86.05 per cent of the total number of votes and 82.13 per cent of the total number of shares in IFS and that the acceptance period was extended to 22 January 2016. During the extended acceptance period, 260,965 shares (of which 3,103 are A-shares and 257,862 are B-shares) have been tendered in the Offer, corresponding to 0.85 per cent of the total number of votes and 1.06 per cent of the total number of shares in IFS. Since the mandatory bid threshold was passed on 30 November 2015, IGT Holding has acquired in total 3,514,208 shares in IFS outside the Offer (of which 112,736 are A-shares and 3,401,472 are B-shares), corresponding to 13.40 per cent of the total number of votes and 14.32 per cent of the total number of shares in the Company.3
Settlement for those shareholders who have accepted the Offer during the extended acceptance period is expected to be initiated on 28 January 2016.
To provide the remaining shareholders in IFS more time to consider and accept the Offer, the acceptance period has been extended until and including Friday 5 February 2016, 3.00 p.m. (CET). This is the last extension of the acceptance period for the Offer and IGT Holding will not extend the acceptance period after 5 February 2016. Settlement for shares tendered after 22 January 2016 is expected to commence on Thursday 11 February 2016. IGT Holding may acquire additional shares in IFS on the market.
For additional information, please contact:
For more information about the Offer, please see: www.eqtinfo.se
For media enquiries, please contact:
Kerstin Danasten, EQT
Telephone: +46 8 506 55 34
Mobile: +46 766 414290
Email: kerstin.danasten@eqt.se
For urgent enquiries: press@eqt.se
This information was submitted for publication on 26 January 2016 at 08.30 (CET)
Important information
The Offer is not being made to persons whose participation in the Offer requires that any additional offer document is prepared or registration effected or that any other measures are taken in addition to those required under Swedish law. This press release and any documentation relating to the Offer are not being distributed and must not be mailed or otherwise distributed or sent in or into any country in which the distribution or offering would require any such additional measures to be taken or would be in conflict with any law or regulation in such country – any such action will not be permitted or sanctioned by IGT Holding. Any purported acceptance of the Offer resulting directly or indirectly from a violation of these restrictions may be disregarded.
The Offer is not being made, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America by use of mail or any other 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 security exchange, of Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America, and the Offer cannot be accepted by any such use, means, instrumentality or facility of, or from within, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America. Accordingly, this press release and any documentation relating to the Offer are not being and should not be mailed or otherwise distributed, forwarded or sent into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America. IGT Holding will not deliver any consideration from the Offer into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or the United States of America.
Statements in this press release relating to future status or circumstances, including statements regarding future performance, growth and other trend projections and the 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 IGT Holding and IFS.
[1] EQT VII comprises EQT VII (No.1) Limited Partnership, EQT VII (No.2) Limited Partnership (together the “Partnerships”) as well as certain co-investment schemes established to invest alongside the Partnerships. EQT Services (UK) Limited acts as the manager of the Partnerships and certain of the schemes, and is authorized and regulated by the United Kingdom Financial Conduct Authority.
[2] A newly formed company indirectly wholly owned by EQT.
[3] Based on the total number of shares in the Company, excluding the 426,600 B-shares held by the Company.