This press release may not, directly or indirectly, be distributed or published in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa or the United States. 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 documentation, filings or other measures in addition to those required by Swedish law.
This press release has been published in Swedish and English. In the event of any discrepancy between the language versions, the Swedish version shall prevail.
7 January 2013 at 8:30 am CET
On 7 November 2012, Arctic Paper S.A. (“Arctic Paper”) announced a recommended public offer to acquire all outstanding shares in Rottneros AB (“Rottneros”) (the “Offer”).
As previously announced, at the end of the initial acceptance period on 12 December 2012, the Offer had been accepted by shareholders representing 59,090,342 shares in Rottneros, corresponding to 38.7 percent of the outstanding shares and votes in Rottneros.
During the extension of the acceptance period which ran until and including 2 January 2013, the Offer has been accepted by shareholders representing an additional 1,619,878 shares in Rottneros, corresponding to 1.1 percent of the outstanding shares and votes in Rottneros. Settlement of the Offer for shares tendered during the aforementioned extension of the acceptance period is expected to commence on 11 January 2013.
Accordingly, until and including 2 January 2013, the Offer has been accepted by shareholders representing in aggregate 60,710,220 shares in Rottneros, corresponding to 39.8 percent of the outstanding shares and votes in Rottneros. Of the shares tendered in the Offer, in aggregate 58,893,860 shares in Rottneros have been tendered against consideration in the form of shares in Arctic Paper and in aggregate 1,816,360 shares in Rottneros have been tendered against cash consideration.
In addition, Arctic Paper has acquired in aggregate 1,414,148 shares in Rottneros outside the Offer, corresponding to 0.9 percent of the outstanding shares and votes in Rottneros. Arctic Paper may continue to acquire shares in Rottneros outside the Offer provided that such potential acquisitions from time to time are deemed favorable.
Accordingly, Arctic Paper currently controls – through the abovementioned acquisitions in and out-side the Offer – in aggregate 62,124,368 shares in Rottneros, corresponding to 40.7 percent of the outstanding shares and votes in Rottneros.
Furthermore, Arctic Paper has acquired 2,500,000 warrants 2010/2013 series A in Rottneros outside the Offer.
Arctic Paper does not hold any financial instruments that give Arctic Paper a financial exposure which corresponds to a holding of shares in Rottneros other than as set out above. Arctic Paper does not own or otherwise control any shares in Rottneros in addition to what is stated above.
EXTENSION OF THE OFFER
To provide the remaining shareholders in Rottneros more time to consider and the possibility to accept the Offer, the acceptance period has been extended until and including 4 February 2013. Settlement for shares tendered during the last-mentioned extension of the acceptance period is expected to commence on or around 12 February 2013. Arctic Paper will not further extend the acceptance period.
The Offer still means that Arctic Paper offers 0.1872 Arctic Paper shares for each Rottneros share. Shareholders in Rottneros owning up to and including 2,000 shares in Rottneros can, as an alternative, choose to receive a cash consideration of SEK 2.30 for each Rottneros share. For complete information about the Offer and its terms, reference is made to the offer document which is available at Arctic Paper’s website, www.arcticpaper.com.
Arctic Paper S.A.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Olle Grundberg, chairman of the supervisory board of Arctic Paper,
tel. +46 70 654 44 20
This information is disclosed pursuant to art. 56 section 1 item 1 of the Polish Offering Act, and was submitted for publication on 7 January 2013 at 8:30 am CET.