Result of Hexagon's recommended unconditional cash offer for the shares in Veripos
ET | Source:Hexagon AB
Reference is made to the stock exchange notice from Hexagon AB on 20 December
2013 related to the recommended unconditional cash offer for the remaining
shares in Veripos Inc. (“Veripos”) not already owned by Hexagon Acquisition Ltd.
(the “Offer”), an indirectly wholly owned subsidiary of Hexagon AB (Hexagon AB
and Hexagon Acquisition Ltd. hereinafter jointly referred to as “Hexagon”), the
offer document related to the Offer dated 23 December 2013 (the “Offer
Document”) and the stock exchange notice from Hexagon on 29 January 2014
regarding the extension of the acceptance period under the Offer until 16:30
CET on 7 February 2014.
At expiry of the acceptance period, Hexagon had received acceptances of the
Offer from shareholders holding 22,317,896 shares, representing 67.4 per cent of
the outstanding shares of Veripos. In addition, Hexagon owns 10,055,090 shares
in Veripos, representing 30.3 per cent of the outstanding shares of Veripos.
Accordingly, Hexagon owns and has received acceptances for 32,372,986 shares,
representing 97.7 per cent of the total shares in Veripos.
Please note that the result of the Offer is preliminary and may be subject to
adjustments, however, such adjustments (if any) are expected to be non-material.
Cash settlement of the Offer will be conducted on 18 February 2014.
As stated in the Offer Document, it is Hexagon’s intention, following settlement
of the Offer, to complete a compulsory acquisition of any minority shares in
Veripos not owned by Hexagon. Since Hexagon will own more than 90 per cent of
the shares of Veripos following the settlement of the Offer, Hexagon has, as
further stated in the Offer Document, various options available for executing a
compulsory acquisition under Cayman law. Further announcement regarding the
compulsory acquisition will be made in due course.
SEB Corporate Finance is acting as financial adviser for Hexagon.
For further information please contact:
Carl Gustafsson, Investor Relations Manager, Hexagon AB,
46 8 601 26 27, firstname.lastname@example.org
Kristin Christensen, Vice President, Corporate Communications, Hexagon AB,
1 404 554 0972, email@example.com
Karl Skjelbred, SEB Corporate Finance,
47 21 00 85 78, firstname.lastname@example.org
Jo Isaksen, SEB Corporate Finance,
47 21 00 85 41, email@example.com
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design,
measurement and visualisation technologies. Our customers can design, measure
and position objects, and process and present data, to stay one step ahead of a
changing world. Hexagon’s solutions increase productivity, enhance quality and
allow for faster, better operational decisions, saving time, money and
resources. Hexagon has more than 14,000 employees in over 40 countries and net
sales of about 2,400 MEUR. Our products are used in a broad range of industries
including surveying, power and energy, aerospace and defence, construction,
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