Seco Tools Applies For Delisting Following Takeover By Sandvik
25 January 2012 - 7:51PM
Dow Jones News
Swedish tool maker Seco Tools AB (SECO-B.SK) said Wednesday that
at the request of Sandvik AB (SAND.SK), it has resolved to apply
for delisting of the company's class B share that is listed on
NASDAQ OMX Stockholm.
MAIN FACTS:
-At the request of Sandvik, the board of Seco Tools has also
resolved to convene an EGM to be held on Feb. 17, 2012 for the
purposes of electing a new board.
-Following Sandvik's public offer to the shareholders of Seco
Tools, Sandvik controls approximately 98.7% of the shares and 99.6%
of the votes in Seco Tools. Sandvik has also requested a
squeeze-out of the Seco Tools shares that are not held by Sandvik
(including subsidiaries).
-The last day of trading in the company's class B shares on
NASDAQ OMX will be announced as soon as the company has received
confirmation from NASDAQ OMX.
-Shares closed Tuesday at SEK117.10.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com
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