All conditions in Ratos offer to the shareholders of HL Display have been fulfilled
This information is disclosed in accordance with the Securities Markets Act and NASDAQ OMX Stockholm's rules regarding public offers on the stock market.
This press release may not be distributed, directly or indirectly, in or into, the United States of America, Australia, Canada, New Zealand, Switzerland, 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.
Ratos acquisition of HL Display has been approved by relevant competition authorities. Consequently, the offer is declared unconditional and Ratos will complete the offer to the shareholders of HL Display in accordance with the previously announced timetable. Ratos will also complete the acquisition of the shares purchased from the Remius family.
Ratos announced on 2 June 2010 an offer to the shareholders of HL Display in accordance with the mandatory bid rules to acquire all outstanding shares for a cash consideration of SEK 49 per share. The offer was conditional upon approval by relevant competition authorities. Ratos has now received such approvals and all conditions for the offer have been fulfilled. Consequently, Ratos will complete the offer in accordance with the previously announced timetable. As the offer now is unconditional, shareholders that have accepted the offer or will accept the offer, are not entitled to withdraw acceptances.
The ordinary acceptance period will continue to run up to and including 13 August 2010. For the shareholders in HL Display that accepts the offer till then, settlement is expected to commence on 20 August 2010.
The outcome of the offer, including final amount of shares tendered, is expected to be announced on 16 August 2010.
As set out in the offer document, Ratos reserves the right to extend the acceptance period and postpone the settlement date. Any extension of the acceptance period will not delay settlement in respect of those that have accepted the offer during the ordinary acceptance period.
Stockholm 20 July 2010 Ratos AB The Board of Directors
For further information, please contact: Arne Karlsson, CEO Ratos, +46 8 700 17 00 Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 733 80 22 63
Financial calendar from Ratos: Interim Report January - June 2010 20 August 2010
Interim Report January - September 2010 4 November 2010
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos offers investors a unique investment opportunity. Ratos's equity is approximately SEK 15 billion and has a market capitalisation of approximately SEK 31 billion. Ratos's holdings include AH Industries, Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom Group, Haglöfs, HL Display, Inwido, Jøtul, Lindab, MCC, Medisize, SB Seating, Superfos and Other holdings.