Arbitration Panel confirms Klövern AB’s right to redeem minority shares
2013-03-21
The arbitration panel confirms Klövern AB’s right to redeem the minority shares in Dagon AB
On 6 December 2011, Klövern AB (publ), reg. no. 556482-5833, (“Klövern“) made a public offer to the shareholders of Dagon AB, reg. no. 556431-0067, (“Dagon“) to acquire all outstanding shares in Dagon (“The Offer“).
Dagon has a share capital amounting to SEK 117,904,995 consisting of 23,580,999 shares. During an acceptance period, which was extended until 16 April 2012, the Offer was accepted by shareholders representing more than nine-tenths of the shares in Dagon. Klövern owns a total of 23,548,862 shares in Dagon. Other shareholders apart from Klövern own 32,137 shares in Dagon.
The arbitration panel confirmed in an award announced in Stockholm on 3 January 2013 that Klövern was entitled, and is obliged, to redeem the remaining shares in Dagon, which are not owned by Klövern. The arbitration panel set the redemption amount that Klövern is to pay per Dagon share at SEK 80 with a supplement for interest at an amount corresponding to the reference rate from time to time with an addition of two percentage points from 17 April 2012 to 8 March 2013. Thereafter, interest will be paid at an amount corresponding to the reference rate from time to time with an addition of eight percentage points until payment has been made in full.
The arbitration award has not been appealed against pursuant to Chapter 22, section 24, of the Swedish Companies Act and thus attained legal force on 8 March 2013.
Klövern has decided to redeem all remaining shares in Dagon and will pay the redemption amount together with interest.
Nyköping, 21 March 2013
Klövern AB (publ)
For further information, please contact:
Rutger Arnhult, CEO, +46 70-458 24 70, rutger.arnhult@klovern.se
Britt-Marie Nyman, Finance and IR Manager, Deputy CEO, +46 155-44 33 12/+46 70-224 29 35,
britt-marie.nyman@klovern.se
Klövern is a real estate company committed to working closely with customers to offer them efficient premises in selected growth regions. As at 31 December 2012, the value of the properties totalled approximately SEK 22.6 billion and the rental value on an annual basis was around SEK 2.5 billion. The Klövern share is listed on Nasdaq OMX Stockholm Mid Cap.
Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden. Tel +46 155-44 33 00, Fax +46 155-44 33 22. Corporate registration no. 556482-5833. Registered office: Nyköping. kelly.corem.se. info@klovern.se.
This information is such that Klövern AB (publ) is obliged to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. The information was made available for publication on 21 March 2013.