CayTel 1 L.P. has received competition clearance in Russia and completes the cash offer to the shareholders in Teleca AB (publ)
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.
CayTel 1 L.P. (“CayTel”), a wholly owned subsidiary of Symphony Technology Group LLC, announced on October 31, 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.
On December 19, 2008 CayTel announced that CayTel had received competition clearance in Germany in respect of the Offer. At the same time CayTel announced that the acceptance period of the Offer had been extended until 17.00 (CET) on January 12, 2009 as the estimated time for receipt of competition clearance in Russia had been postponed.
CayTel has now received competition clearance also in Russia. The only condition for completion of the Offer has thereby been satisfied.
As per December 23, 2008, i.e. the last trading day before the announcement of this press release, owners of approximately 19,1 million B-shares in Teleca, representing approximately 24.8 % of the shares and 23.5 % of the votes in Teleca, had accepted the Offer. Since earlier, CayTel holds 475,555 Teleca A-shares and 35,667,029 Teleca B-shares, representing in aggregate approximately 47.0 % of the shares and 49.8 % of the votes in Teleca.
Payment of the Offer consideration to the shareholders who have accepted the Offer as per December 23, 2008 is expected to commence on or around January 2, 2009. Payment of the Offer consideration to the shareholders who accept the Offer during the remaining acceptance period of the Offer (up until 17.00 (CET) on January 12, 2009) is expected to commence on or around January 15, 2009.
Since the Offer is now unconditional, shareholders who accept the Offer are not entitled to withdraw their acceptances.
The offer document, as well as the supplement to offer document, in Swedish and English and other information concerning the Offer are published on www.carnegie.se and www.SymphonyTG.com.
For further information contact:
John Treadwell, Principal
Symphony Technology Group
Tel +1-650-935-9529
www.SymphonyTG.com