Kingspan Group PLC Acquisition (3744M)
14 September 2023 - 3:30AM
UK Regulatory
TIDM0KGP TIDMKGP
RNS Number : 3744M
Kingspan Group PLC
13 September 2023
Not for release, publication, or distribution (in whole or in
part) in, into or from any other jurisdiction where to do so would
violate the laws of such jurisdiction. This press release is
neither an offer to buy or sell, nor an invitation to tender or
offer to buy or sell shares.
Kingspan Group plc
Acquisition
Inside Information
13 September 2023
KINGSPAN ACQUIRES ADDITIONAL SHARES IN NORDIC WATERPROOFING
HOLDING AND THEREBY CROSSES THE MANDATORY BID THRESHOLD WITH A
TOTAL HOLDING OF 30.9 PER CENT
Kingspan Holdings (IRL) Limited ("Kingspan") has today acquired
1,648,089 shares in Nordic Waterproofing Holding AB (publ) ("Nordic
Waterproofing" or the "Company") corresponding to approximately 6.8
per cent of the total number of shares and votes in Nordic
Waterproofing (the "Acquisitions"). Kingspan was already before the
Acquisitions Nordic Waterproofing's largest shareholder with a
holding of approximately 24 per cent of the shares and votes in the
Company and will, following the Acquisitions, hold a total of 30.9
per cent of the shares and votes in the Company and has thereby
crossed the mandatory bid threshold of 30 per cent of the votes in
Nordic Waterproofing, as set out in Chapter 3, Section 1 of the
Swedish Takeovers Act (2006:451) (the "Takeovers Act").
The Acquisitions were made at a price of SEK 160 per share. The
price represents a premium of approximately 13.8 per cent compared
to the closing price of SEK 140.6 for the Nordic Waterproofing
share on Nasdaq Stockholm today, 13 September 2023, and
approximately 12.6 per cent compared to Nordic Waterproofing's
volume weighted average share price of SEK 142.1 on Nasdaq
Stockholm during the last 90 trading days up to and including 13
September 2023.
Under the Takeovers Act, Kingspan must announce that the
mandatory bid threshold of 30 per cent of the votes in Nordic
Waterproofing has been crossed through the Acquisitions. This press
release constitutes such an announcement. Kingspan is, as a result,
under an obligation to launch a mandatory public offer for the
remaining shares in Nordic Waterproofing within four weeks from the
Acquisitions. In accordance therewith, Kingspan intends to, within
such period, launch a mandatory public offer for the remaining
shares in Nordic Waterproofing at the same price per share as in
the Acquisitions, SEK 160 per share.
The shares in Nordic Waterproofing are listed on Nasdaq
Stockholm, Mid Cap.
For additional information please contact:
Lorcan Dowd
Company Secretary
+ 353 (0)42 9698000
The information was submitted for publication on 13 September
2023 at 19.28 (CEST).
Important information
This press release is not a public offering to acquire shares.
Anyone crossing the mandatory bid threshold of 30 per cent of the
votes in a company with shares admitted to trading on a regulated
market must, according to Chapter 3, Section 1 of the Swedish
Takeovers Act (2006:451), announce the crossing of the mandatory
bid threshold. This press release constitutes such an
announcement.
The potential public mandatory offer (the "Potential Offer"),
pursuant to the terms and conditions presented in this press
release, is not being made to persons whose participation in the
Potential Offer requires that an additional offer document is being
prepared or registration effected or that any other measures are
taken in addition to those required under Swedish law and
regulations or otherwise contemplated in connection with the
Potential Offer.
This press release and any other documentation related to the
Potential Offer are not being distributed and must not be mailed or
otherwise distributed or sent in or into any country in which the
distribution or offering would require any such additional measures
to be taken or would be in conflict with any law or regulation in
such country - any such action will not be permitted or sanctioned
by Kingspan. Any purported acceptance of the Potential Offer
resulting directly or indirectly from a violation of these
restrictions may be disregarded.
This press release is not being, and must not be, sent to
shareholders with registered addresses in Australia, Canada, Hong
Kong, Japan, New Zealand, South Africa or the United States. Banks,
brokers, dealers and other nominees holding shares for persons in
Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or
the United States must not forward this press release or any other
document related to the Potential Offer to such persons.
The Potential Offer, the information and documents contained in
this press release are not being made, and have not been approved,
by an authorised person for the purposes of section 21 of the
Financial Services and Markets Act 2000, as amended (the "FSMA").
The communication of the information and documents contained in
this press release to persons in the United Kingdom is exempt from
the restrictions on financial promotions in section 21 of the FSMA
on the basis that it is a communication by or on behalf of a body
corporate which relates to a transaction to acquire shares in a
body corporate and the object of the transaction may reasonably be
regarded as being the acquisition of day to day control of the
affairs of that body corporate within article 62 (Sale of body
corporate) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQEAXNDFDEDEFA
(END) Dow Jones Newswires
September 13, 2023 13:30 ET (17:30 GMT)
Kingspan (LSE:KGP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kingspan (LSE:KGP)
Historical Stock Chart
From Apr 2023 to Apr 2024
