AKVA group ASA: Israel Corp. announces results of its offer to purchase shares in AKVA group ASA
19 October 2021 - 5:02PM
AKVA group ASA: Israel Corp. announces results of its offer to
purchase shares in AKVA group ASA
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW
ZEALAND, SOUTH AFRICA, HONG KONG, JAPAN OR ANY OTHER JURISDICTION
IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL
Reference is made to the announcement made by AKVA group ASA
(“AKVA” or the “Company”) on 29 September 2021 regarding the
approximate 15 % stake investment in the Company by Israel Corp.,
comprising of a private placement of 3,333,430 new shares (the
“Private Placement”) and purchases of minimum 2,166,730 existing
shares in the Company, each at a price of NOK 96.50 per share (the
“Offer”). The maximum number of shares acquired by Israel Corp.
were to be determined by Israel Corp. at its sole discretion
following expiry of the offer period in the Offer, provided however
that Israel Corp.'s aggregate holding of shares in AKVA upon
completion of the Offer and the private placement of new shares
shall not exceed 19.99% (the “Maximum Ownership”).
The acceptance period for Offer has expired, and the Offer is no
longer capable of acceptance.
Israel Corp. has, subject to satisfaction of the conditions for
completion of the Offer, decided to acquire 3,266,762 shares in the
Offer, and will reduce acceptances received as per the procedure
described in the Offer terms and conditions. Subject to and
following completion of the Offer and the Private Placement, which
is expected to be considered by the Company’s shareholders in the
extraordinary general meeting to be held on 20 October 2021, Israel
Corp. will accordingly hold in aggregate 6,600,192 shares in AKVA,
representing 18.0 % of the shares and votes in the Company.
Egersund Group AS will still hold the majority ownership in AKVA
after completion of the Offer and the Private Placement.
Assuming that the Private Placement is approved by the
extraordinary general meeting in the Company to be held on 20
October 2021, settlement of the Offer is expected to take place on
or about 22 October 2021, as further set out in the Offer terms and
conditions made available on the Company’s website. Shares tendered
and accepted in the Offer will remain blocked until settlement or
cancellation of the Offer.
DNB Markets, a part of DNB Bank ASA, is acting as financial
advisor and Advokatfirmaet BAHR AS is acting as legal advisor to
Israel Corp. in connection with the Offer and the Private
Placement. Wikborg Rein Advokatfirma AS is acting as legal advisor
to AKVA in connection with the Offer and the Private Placement.
Dated: 19 October 2021
AKVA group ASA
Web: www.akvagroup.com
***
This information is subject to the disclosure requirements
according to section 5-12 of the Norwegian Securities Trading
Act.
The Offer and the distribution of this announcement and other
information in connection with the Offer may be restricted by law
in certain jurisdictions, and may not be distributed, forwarded or
transmitted into or within any jurisdiction where prohibited by
applicable law, including, without limitation, Canada, Australia,
New Zealand, South Africa, Hong Kong and Japan. Israel Corp. does
not assume any responsibility in the event there is a violation by
any person of such restrictions. Persons into whose possession this
announcement or such other information should come are required to
inform themselves about and to observe any such restrictions.
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