Merger of Teligent and Trio
2006-02-24, Report from the Extraordinary Meeting of Shareholders of Teligent AB
Due to the merger of Teligent and Trio an extraordinary meeting of shareholders in Teligent AB was held earlier today.
Teligent’s offer to the shareholders in Trio AB to acquire all of the shares in Trio AB was made public on 8 February. The offer implies that for each share in Trio, Teligent AB offer 0.0877 shares in Teligent AB.
At the extraordinary meeting of shareholders Teligent’s CEO, Pekka Peltola, presented the background and motives for the merger with Trio. Furthermore, it was resolved that payment would be in the form of capital contributed in kind, resulting in the company’s share capital being increased by a maximum amount of SEK 941,332 .10, on the basis of an issue of a maximum of 9,413.321 shares.
The shareholders in Trio shall be entitled to subscribe to the new shares against a contribution of shares in Trio as payment in kind. The contribution of one share in Trio shall entitle subscription to 0.0877 shares in Teligent. Subscription of new shares shall take place during the period March 7-March 27, 2006. Payment for subscribed shares shall be made no later than March 27, 2006.
The resolution regarding the new share issue is conditional upon the offer being completed in accordance with its terms and conditions, or that the company, in spite of the lack of fulfilment of all terms and conditions, publicly states that the offer is finalised. One of the conditions for the offer is that the extraordinary shareholders’ meeting in Teligent adopt the required resolutions to facilitate the issue of new shares as payment under the offer. This condition has now been fulfilled on the basis of today’s resolution.
The complete resolution on the new share issue will be available on www.teligent.se.
Teligent is an innovative player in the value added services segment of the telecom industry. Teligent offers carriers and service providers advanced, comprehensive and flexible solutions in order to increase network usage and revenue streams.
The company is listed on the Stockholmsbörsen (Stockholm Stock Exchange). Teligent is established with offices in Brazil, France, Germany, Malaysia, the Middle East, Morocco, Philippines, Scandinavia, Singapore, Spain, UK and USA. The company has its head office in Nynäshamn (Stockholm), Sweden.
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- Paul Hastings
- Teligent AB
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