NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA OR HONG KONG, OR IN ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.
Inission AB (“Inission” or the “Offeror”) has published on 1 August 2022 its mandatory public tender offer (the “Tender Offer”) for all such shares in Enedo Plc (“Enedo” or the “Company”), an international designer and producer of high-quality electronic power supplies and systems listed on Nasdaq Helsinki, which are not already owned by Inission and which are not held by the Company itself. Inission owns already approximately 80.43 per cent of all the shares and related voting rights in the Company.
The Finnish Financial Supervisory Authority has on 7 September 2022 approved the Finnish language version of the tender offer document (including exemption document) relating to the Tender Offer (the “Tender Offer Document”). The acceptance period under the Tender Offer will commence on 8 September 2022 at 9:30 a.m. (Finnish time) and expire on 29 September 2022 at 4:00 p.m. (Finnish time) (the “Offer Period”), unless the Offer Period is continued, or extended Offer Period discontinued pursuant to the terms and conditions of the Tender Offer.
The Tender Offer Document will be available in electronic format from 8 September 2022 onwards online in Finnish at www.inission.com/investor-relations/enedo-related/
The Tender Offer Document will be also available in Finnish at the headquarters of Inission Lantvärsngatan 4, 652 21, Karlstad, Sweden as well as at Nasdaq Helsinki Ltd., Fabianinkatu 14, 00100 Helsinki, Finland.
The cash consideration to be offered in the Tender Offer for each Enedo share validly tendered in accordance with the terms and conditions of the Tender Offer will be EUR 0.26 (the “Offer Price”). Alternatively, Inission will also offer a share consideration whereby 0.086 new Inission Class B shares listed on Nasdaq First North Growth Market Sweden are offered for each Enedo share validly tendered in accordance with the terms and conditions of the Tender Offer.
If all remaining Enedo shareholders accept the share consideration in the Tender Offer, the respective new Class B shares in Inission amount to a total of 1,147,299 new Class B shares and represent approximately 5.45 per cent of all the shares and approximately 2.69 per cent of all the voting rights in Inission.
Inission will announce the preliminary result of the Tender Offer on or about the first (1st) Finnish banking day following the expiry of the Offer Period or, if applicable, the extended or discontinued extended Offer Period. Inission will announce the final result on or about the third (3rd) Finnish banking day following the expiry of the Offer Period or, if applicable, the extended or discontinued extended Offer Period.
Jonver Capital Oy acts as the financial advisor, Evli Plc acts as the issuer agent and Bird & Bird Attorneys Ltd. acts as the legal advisor to Inission in the Tender Offer.
THE BOARD OF DIRECTORS
For further information please contact
Fredrik Berghel, CEO Inission
+46 732 02 22 10
Inission AB / Release 8 September 2022 at 8:00 CET
Inission is a profitable total supplier that offers demanding industrial customers in the Nordic region complete electronic and mechanical products of the highest quality. Inission’s services cover the entire product life cycle, from development and design to industrialization, volume production and aftermarket. By combining this with logistics services and a production based on high flexibility, customer adaptation and short lead times, our offer becomes very competitive. Inission has factories in Sweden, Finland, Norway and Estonia.
The revenue of Inission for the financial period ended on 31 December 2021, was approximately SEK 1 003 million (approximately EUR 94 million) and it employs approximately 520 people. Inission is listed on Nasdaq First North with Nordic Certified Adviser AB ([email protected], +46 707 94 90 73) as a certified adviser. The company’s reports are filed under:
Inission AB: reg.no./org.nr 556747-1890
Lantvärnsgatan 4, 652 21 Karlstad