CDON Group has received acceptances representing 96.8 percent of the shares and votes in Tretti, declares the offer wholly unconditional
This press release must not, directly or indirectly, be distributed to or within the United States of America, Australia, Japan, Canada, South-Africa or New Zealand.
CDON Group AB (publ) (“CDON Group” or “the Group”) (Nasdaq OMX Stockholm: CDON) (publ.), one of the leading e-commerce groups in the Nordic region, announced a recommended cash offer to the shareholders in Tretti AB (publ) (“Tretti”) on 28 April 2011, to tender all the shares in Tretti to CDON Group for SEK 67.25 in cash per share (“the Offer”). The Offer has been accepted by shareholders representing 4,975,600 shares, corresponding to 96.8 percent of the outstanding shares and votes in Tretti. CDON Group therefore declares the Offer wholly unconditional and is extending the acceptance period until 10 June 2011 (17:00 CET), in order to enable shareholders who have not yet accepted the Offer to tender their shares.
CDON Group has previously received approval from the Swedish Competition Authority and all conditions for the Offer have therefore been fulfilled.
Settlement for those shareholders who have already accepted the Offer will be made on or around 3 June 2011. Settlement in respect of shareholders who accept the Offer during the extended acceptance period is expected to commence on or around 17 June 2011.
CDON Group does not have any prior holdings in Tretti and has not acquired any shares in Tretti outside of the Offer.
CDON Group intends to call for compulsory acquisition of the remaining shares in Tretti in accordance with the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)) and intends to delist the Tretti shares from NASDAQ OMX First North.
CDON Group reserves the right to extend the acceptance period. For a detailed description of the Offer, including instructions for acceptance, please see the offer document and acceptance form which are available on CDON Group’s website at www.cdongroup.com/cashoffer and on SEB’s website at www.seb.se/prospekt.
* * *
For further information, visit cdongroup.com/cashoffer or contact:
Investor and analyst enquires:
Martin Edblad, Chief Financial Officer
Tel: +46 (0) 70 080 75 03
Email: ir@cdongroup.com
Press enquires:
Fredrik Bengtsson, Head of Communications
Tel: +46 (0) 70 080 75 04
Email: press@cdongroup.com
CDON Group in brief
CDON Group is one of the leading e-commerce groups in the Nordic region. Established in 1999, the Group has continuously expanded its product portfolio and is now a leading e-commerce player in the Entertainment (CDON.COM, BookPlus.fi, Lekmer.com), Fashion (Nelly.com, LinusLotta.com, Heppo.com, RUM21.se), and Sports & Health (Gymgrossisten.com, Bodystore.com) segments. CDON Group’s nine online stores attract approximately 115 million site visits and two million unique customers a year and the Group reported revenues of SEK 2.2 billion for the full year 2010.
Disclaimer
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 the offer document 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 CDON Group. 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 the United States of America, Australia, Japan, Canada, New Zealand or South Africa 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 the United States of America, Australia, Japan, Canada, New Zealand or South Africa, and the Offer cannot be accepted by any such use, means, instrumentality or facility of, or from within, the United States of America, Australia, Japan, Canada, New Zealand or South Africa. 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 the United States of America, Australia, Japan, Canada, New Zealand or South Africa. CDON Group will not deliver any consideration from the Offer into the United States of America, Australia, Japan, Canada, New Zealand or South Africa.
The information in this announcement is that which CDON Group AB is required to disclose under the Securities Markets Act. This information was released for publication at 18:00 CET on 30 May 2011.
Tags: