Providence Education International completes the Offer to the shareholders in AcadeMedia and declares the Offer unconditional
This press release may not be distributed, directly or indirectly, in or into, the United States of America, Australia, Canada, South Africa or Japan. 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 offer documents, filings or other measures in addition to those required by Swedish law.
- Providence Education International completes the Offer to the shareholders in AcadeMedia and declares the Offer unconditional.
- Settlement is expected to commence promptly.
- The Offer has been accepted by shareholders representing 2,135,699 shares, corresponding to approximately 17.7 per cent of the votes and the share capital in AcadeMedia.
On April 22, 2010, Providence Education International AB (“Providence Education International”) announced a cash offer to the shareholders in AcadeMedia AB (publ) (“AcadeMedia”) of SEK 170 in cash for each share (the “Offer”). On May 17, 2010, Providence Education International announced an increase of the price in the Offer to SEK 190 in cash for each share.
Providence Education International has today decided to complete the Offer and all of the conditions for the completion of the Offer have thus been met or waived.
The Offer has been accepted by shareholders representing 2,135,699 shares, corresponding to approximately 17.7 per cent of the votes and share capital in AcadeMedia. Providence Education International has not acquired any shares in AcadeMedia outside of the Offer and consequently owns, after the completion, a total of 2,135,699 shares corresponding to approximately 17.7 per cent of the votes and share capital in AcadeMedia.
For those shareholders that have accepted the Offer, settlement will commence promptly.
For further information regarding the Offer, referral is made to the offer document relating to the Offer and the first and second supplements to the offer document, available on www.providenceeducationinternational.se, www.academedia.se and www.handelsbanken.se/investeringserbjudande.
Stockholm on June 4, 2010
Providence Education International AB
The Board of Directors
The information provided herein was submitted for publication on June 4, 2010 at 17.00 CET.
For further information visit www.providenceeducationinternational.se or contact:
Erik Nilsson
Tel: +46 (0) 761160041
Email: info@providenceeducationinternational.se
Andrew Cole
Sard Verbinnen & Co
Tel: +1 212-687-8080
E-mail: acole@sardverb.com
The Offer is not being made (nor will any tender of shares be accepted from or on behalf of holders) in any jurisdiction in which the making of the Offer or the acceptance of any tender of shares therein would not be made in compliance with the laws of such jurisdiction or where the completion or acceptance of the Offer requires further offer document, filings or other measures in addition to those required under Swedish law, except where there is an applicable exemption. The Offer is not being made, directly or indirectly, by use of mail or any other means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the Internet) in or into the United States of America, Australia, Canada, South Africa or Japan and the Offer cannot be accepted in or from the United States of America, Australia, Canada, South Africa or Japan. As a result, this press release, the Offer Document, the supplements to the Offer Document, the acceptance form and other documentation relating to the Offer will not, and may not, be mailed or in any other way distributed, forwarded or transmitted to, from or within the United States of America, Australia, Canada, South Africa or Japan. Providence Education International will not send any payment in respect of the terms of the Offer to, or accept any acceptance forms from, the United States of America, Australia, Canada, South Africa or Japan.