Kamic Electronics holds more than 90 percent and completes the offer to shareholders in ElektronikGruppen
This press release may not, directly or indirectly, be disclosed, published or distributed to or within Australia, Japan, Canada, New Zeeland, South Africa, USA or any other country where such action would require registration or any other actions in addition to those required under Swedish law. The offer is not being made to (and acceptances will not be accepted from) persons in those countries or elsewhere where their participation requires further documentation, filings or other measures in addition to those required by Swedish law.
This press release has been published in Swedish and English. In the event of any discrepancy in content between the language versions, the Swedish version shall prevail.
On 22 June 2011, Kamic Electronics launched an offer in cash to the shareholders of ElektronikGruppen, to transfer all shares in ElektronikGruppen to Kamic Electronics. The board of directors of ElektronikGruppen has recommended the offer.
Shareholders representing 3,083,815 B-shares in ElektronikGruppen BK Aktiebolag (publ) (”ElektronikGruppen”), corresponding to 55.1 percent of the share capital and 44.4 percent of the votes, had by the end of the acceptance period on 12 August 2011 accepted the offer from Kamic Electronics AB (”Kamic Electronics”). All conditions made by Kamic Electronics for completion of the offer have been satisfied and, accordingly, the offer is completed. Kamic Electronics has also decided to extend the acceptance period until 2 September 2011.
As previously communicated, all shares of series A and series B in ElektronikGruppen which are owned or otherwise controlled by Kenneth Lindqvist together with related parties and Thomas Wernhoff – a total of 150,000 A-shares and 1,924,159 B-shares, corresponding to approximately 37.1 percent of the share capital and approximately 49.3 percent of the votes in ElektronikGruppen – will in connection with the completion of the offer be transferred to Kamic Electronics. In connection herewith, Kamic Electronics will also exercise its rights pursuant to option agreements to acquire another 83,047 B-shares, corresponding to approximately 1.5 percent of the share capital and approximately 1.2 percent of the votes in ElektronikGruppen. Kamic Electronics hence owns a total of 150,000 A-shares and 5,091,021 B-shares in ElektronikGruppen, corresponding to 93.6 percent of the share capital and 94.9 percent of the votes. No additional shares have been acquired outside the offer and Kamic Electronics did not previously own or otherwise control any shares in ElektronikGruppen.
In order to enable participation in the offer for shareholders who have not yet accepted the offer, the acceptance period is extended until 2 September 2011 at 5.00pm.
For those shareholders in ElektronikGruppen who accepted the offer under the regular acceptance period, settlement is expected to begin on 19 August 2011. For those shareholders who accept the offer during the extended acceptance period, settlement is expected to begin on 8 September 2011. Since the offer is now made unconditional, shareholders having accepted the offer, or accepting the offer, will no longer have the right to recall submitted acceptances.
As Kamic Electronics holds more than 90 percent of the shares of ElektronikGruppen, Kamic Electronics intends to initiate a compulsory acquisition procedure to acquire all remaining shares in ElektronikGruppen. Kamic Electronics also intends to promote a de-listing of ElektronikGruppen’s shares from NASDAQ OMX Stockholm.
Any questions may be referred to:
Kenneth Lindqvist, representative of Kamic Electronics, phone: + 46 70 310 18 23
The information in this press release was submitted for publication at 9.00 pm CET on 16 August 2011.
The KAMIC group in short
The KAMIC group consists of 14 European trade and agent companies within the following fields of technology:
- Electricity and electronic components
- Emergency lighting and lighting
- Safety products
- Back-up power, UPS, power supply, testing and measuring
- Equipment for the broadband market
The group is focusing on sale and marketing of quality products from world leading producers. With its strong technical competence, sensitivity for support and good delivery capacity, the companies within the group develop its business operations in a close cooperation with the customers. The KAMIC group’s parent company, KAMIC AB, is wholly-owned by Kenneth Lindqvist.
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