Teligent acquires shares in Trio and announces Extraordinary Shareholders’ meeting
June 15, 2006
Acquisition of shares in Trio
Through the official offer to the shareholders in Trio AB announced on February 8th 2006 and through acquisition on the stock market, Teligent has so far acquired 90.283.506 shares in Trio, representing 88,9 per cent of the share capital in Trio.
Teligent has on June 14th 2006 entered into a contract of acquiring additional 7.297.000 shares from one of the remaining minority owners in Trio. The acquisition is made at a price of 2,72 SEK per share. The agreement is on condition of approval at the extraordinary shareholders’ meeting in Teligent. After this acquisition, Teligent will hold 96,1 per cent of the share capital and votes in Trio.
Compensation to the shareholders who have accepted the offer
Rules of the Commerce Stock Exchange Committee (Näringslivets Börskommitté, NBK) regarding Public Offers for the Acquisition of Shares apply to the Offer. These rules means that if Teligent acquires shares in Trio within a period of nine months after payment has commenced in a public offer (subsequent transaction) on terms which are more favourable than the terms of the offer, the bidder must pay compensation to those who have accepted the offer.
The appraisal of the value in the offer shall be based on the market situation when Teligent announced completion of the Offer. At this point of time, the Offer was equivalent to a value of 2,57 SEK per share in Trio.
Upon completion of the agreement entered into on June 14th shareholders in Trio who have accepted the Offer will receive a compensation of 0,15 SEK for each share in Trio that has been submitted in the Offer.
Extra Ordinary Shareholders Meeting
As the completion of the above mentioned agreement brings an additional cost for the acquisition with approx. 15MSEK, the Teligent Board of Directors has decided to summon an Extra Ordinary Shareholders Meeting to approve the acquisition of the shares in Trio according to the agreement entered into on June 14th.
Larger shareholders in Teligent, such as Visionalis AB, Kistefos A/S and SEB, representing approx. 28 per cent of the shares and votes in Teligent, have declared to vote for an approval.
An announcement for Extra Ordinary Shareholders Meeting will be issued shortly.
Stockholm June 15, 2006
For further information, please contact:
Tomas Duffy, CEO & President
Tel. +46 8 520 660 50
Paul Hastings, CFO
Tel. +46 8 410 172 26
- Contact Information
- Tomas Duffy
- CEO & President
- Teligent AB
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.