Press Release, Malmö, Sweden, February 8, 2011 8:00 AM CET Extraordinary general meeting in HEXPOL

Press Release, Malmö, Sweden, February 8, 2011 8:00 AM CET

Extraordinary general meeting in HEXPOL

 

Rights issue

An Extraordinary General Meeting in HEXPOL held yesterday approved the
resolution by the Board of Directors on 11 January 2011 to conduct a
rights issue of approximately 550 MSEK with preferential right for the
company's shareholders.

According to the terms for the rights issue, holders of class A and B
shares will have preferential rights to subscribe for new shares of the
same series in proportion to their existing holdings (primary
subscription right). If all shares are not subscribed for by primary
subscription right, shareholders will have subsidiary subscription right
to the remaining shares, regardless of class of shares. Shares may also
be subscribed for without preferential rights. The record date at the
Swedish Securities Register Center, Euroclear Sweden AB, for
participation in the rights issue is February 24, 2011. This means that
the HEXPOL share will be traded excluding preferential rights to
participate in the rights issue from 22 February 2011. The subscription
period is as from February 28, 2011 up to and including March 16, 2011
or such later date as decided by the Board of Directors of HEXPOL.

The increase of the share capital, the number of shares to be issued,
and the subscription price for the new shares, will be determined by the
Board of Directors of HEXPOL and is expected to be announced on February
17, 2011.

 

Subscription undertakings

Melker Schörling AB, HEXPOL's largest shareholder, representing
approximately 27.2 per cent of the capital and 48.0 per cent of the
votes in HEXPOL, has undertaken to subscribe for its pro rata share of
the offering. Melker Schörling AB has also undertaken to subscribe for
approximately an additional 22.9 per cent in excess of its pro rata
share of the offering if it is not fully subscribed. Consequently,
subscription commitments of more than 50 per cent of the rights issue
have been received.

 

Indicative timetable for the rights issue

February 17, 2011                      Subscription price and terms are
decided by the Board of

                                                Directors and announced
through a press release

February 22, 2011                      First day of trading in the
shares, excluding right to participate in the rights issue

February 24, 2011                      Record date for participation in
the rights issue, i.e. shareholders who are registered in the Company's
share register as of this day will receive subscription rights for
participation in the rights issue

On or about February 25, 2011   Publication of the prospectus

February 28 - March 16, 2011     Subscription period

February 28 - March 11, 2011     Trading in subscription rights

On or about March 21, 2011       Press release regarding preliminary
subscription take-up in the rights issue

 

Dividend

As communicated in the Year-end report 2010, the Board of Directors
proposes that the Annual General Meeting on May 6, 2011 resolves on a
dividend for 2010 of 3 SEK per share with record date for participation
in the dividend on May 11, 2011.

 

This press release does not constitute or form part of an offer or
solicitation to purchase or subscribe for securities in the United
States. The shares in HEXPOL AB have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the
“Securities Act”). Such shares may not be offered or sold in the United
States (as such term is defined in Regulation S under the Securities
Act) except pursuant to an exemption from the registration requirements
of the Securities Act. There will be no public offer of securities in
the United States. Copies of this press release are not being made and
may not be distributed or sent into the United States.This press release
is only being distributed to and is only directed at (i) persons who are
outside the United Kingdom or (ii) to investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth
companies, and other persons to whom it may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons in
(i), (ii) and (iii) above together being referred to as “relevant
persons”). The subscription rights and the shares are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such securities will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or rely
on this document or any of its contents.In any EEA Member State that has
implemented Directive 2003/71/EC (together with any applicable
implementing measures in any Member State, the “Prospectus Directive”)
other than Sweden, this press release is only addressed to and is only
directed at qualified investors in that Member State within the meaning
of the Prospectus Directive (or are other persons to whom a public
offering of securities may lawfully be addressed under the Prospectus
Directive).This press release may contain forward-looking statements.
When used in this press release, words such as “anticipate”, “believe”,
“estimate”, “expect”, “intend”, “plan” and “project” are intended to
identify forward-looking statements. They may involve risks and
uncertainties, including product demand, market acceptance, the effect
of economic conditions, the impact of competitive products and pricing,
foreign currency exchange rates and other risks. These forward-looking
statements reflect the views of HEXPOL's management as of the date made
with respect to future events and are subject to risks and
uncertainties. All of these forward-looking statements are based on
estimates and assumptions made by HEXPOL's management and are believed
to be reasonable, though are inherently uncertain and difficult to
predict. Actual results or experience could differ materially from the
forward-looking statements. HEXPOL disclaims any intention or obligation
to update these forward-looking statements.This press release consists
of such information that HEXPOL AB (publ) may be obliged to disclose in
accordance with the Swedish Securities Market Act and /or the Financial
Instruments Trading Act. The information was submitted for publication
on February 8, 2011 at 08:00 am CET.

 

 

For further information please contact:

Urban Ottosson, CFO/IR, + 46 (0) 767 855 144