Inission AB / Release 22 December 2014 at 10:30 a.m.
INISSION AB’S OWNERSHIP IN INCAP CORPORATION HAS INCREASED FROM 30.27 TO 37.31 PER CENT
Not to be published or distributed, directly or indirectly, in Australia, Canada, China, Hong Kong, Japan, New Zealand, Singapore, South Africa or in the United States or in any other jurisdiction where prohibited by applicable law.
Inission AB ("Inission"), a Swedish privately owned contract manufacturer, has today acquired from Varma Mutual Pension Insurance Company 7,684,615 shares of Incap Corporation ("Incap" or the "Company"), a Finnish contract manufacturer in electronics. After the share acquisition, Inission owns altogether 40,707,563 Incap shares corresponding approximately to 37.31 per cent of all the shares and related voting rights in the Company. The share purchase price was EUR 0.03 per share in cash.
Inission has on 12 December 2014 disclosed its duty to make a mandatory public tender offer for all Incap shares and securities entitling to the shares in accordance with Chapter 11, Section 19 of the Finnish Securities Markets Act after Inission had increased its ownership in Incap to over 30 per cent of all Company shares. Inission also disclosed that it had received an undertaking from a shareholder representing approximately seven per cent of all the shares in Incap to irrevocably and unconditionally accept the tender offer. The respective shareholder, Varma Mutual Pension Insurance Company, resolved to execute the share sale already prior to the commencement of the acceptance period of the mandatory tender offer.
Inission aims to publish the tender offer on 23 December 2014. It is Inission's intention that the acceptance period of the mandatory tender offer will begin approximately on 7 January, 2015 and end on 30 January, 2015.
Jonver Capital Oy acts as the financial advisor and Bird & Bird Attorneys Ltd. acts as the legal advisor to Inission in the tender offer.
Inission AB
THE BOARD OF DIRECTORS
For additional information:
Fredrik Berghel, Member of the Board of Directors
+46 73 20 22 210
fredrik.berghel@inission.com
Inission AB is a Swedish contract manufacturer in electronics offering custom-made manufacturing and logistic services related to industrial electronics particularly for equipment in the field of medical technology, data communications, automotive and marine industry as well as measurement and control technology. The revenue of Inission for the financial period ended on 31 December 2013, was approximately 300 million Swedish crowns (approximately EUR 32 million) and it employs approximately 190 people in Sweden and Estonia.