CayTel 1 L.P. extends the acceptance period in relation to the cash offer to the shareholders in Teleca AB (publ)
CayTel 1 L.P. (“CayTel”), a wholly owned subsidiary of Symphony Technology Group LLC, announced on 31 October 2008 a public offer to the shareholders of Teleca AB (publ) (“Teleca”) in accordance with the rules on mandatory bids (the “Offer”). CayTel is offering SEK 3.25 in cash per share in Teleca.
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, the United States of America, Australia, Canada, Japan, New Zealand or South Africa, 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 measures in addition to those required under Swedish law. This press release has been announced in Swedish and English. In the event of any discrepancy, the Swedish language version shall prevail.
Completion of the Offer is subject to competition clearances in Germany and Russia.
CayTel has decided to extend the acceptance period for the Offer until 17.00 (CET) on 22 December 2008.
The extension is made following the estimated time for receipt of competition clearance in Russia having been postponed. The extended acceptance period will also allow the Teleca Board more time to prepare its statement with respect to the Offer[1], including obtaining an opinion with respect to the fairness of the offered consideration from a financial point of view, and subsequently allow the Teleca shareholders good time to consider the Offer.
As soon as possible following the Teleca Board’s announcement of its opinion of the Offer and the contents of the above mentioned opinion with respect to the fairness of the offered consideration, CayTel will prepare a supplement to the offer document that will be published and distributed to the Teleca shareholders.
The offer document in a Swedish and English version and other information about the Offer are published on www.carnegie.se and www.SymphonyTG.com.
For further information contact:
J.T Treadwell, Principal
Symphony Technology Group
+1-650-935-9529
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[1] The Chairman of the Teleca Board Chet Kamat and the Board member J.T. Treadwell, who are acting for CayTel in the Offer, are not participating in Teleca Board’s handling of or resolutions concerning the Offer.