Preato Capital AB - Takover bid
Supplement to Preato Capital AB's stock exchange release published on 14 June
2019 at 5.35 pm: Preato Capital AB reserves the right to acquire shares in
Yleiselektroniikka Oyj outside the takeover bid and Wonderword Oy has
undertaken to sell shares in Yleiselektroniikka Oyj to Preato Capital AB
Preato Capital AB
17 June 2019 at 6.35 pm
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN,
NEW ZEALAND OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH THE
PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.
On 14 June 2019, Preato Capital AB ("Preato Capital") announced having acquired
1,327,224 shares in Yleiselektroniikka Oyj ("Yleiselektroniikka" or the
"Company") at the price of EUR 8.70 per share. As a result, Preato Capital's
ownership in Yleiselektroniikka amounts to 51.79 per cent of all shares and
votes. As a result of the share acquisition, Preato Capital has become obliged
to launch a takeover bid as referred to in Chapter 11, section 19 of the
Finnish Securities Markets Act for all other shares and securities entitling to
shares in Yleiselektroniikka (the "Takover Bid").
Preato Capital supplements the above release as follows:
Preato Capital reserves the right to acquire shares in Yleiselektroniikka
before the beginning of the offer period, during the offer period and/or after
the offer period in public trading on Nasdaq Helsinki or otherwise.
Wonderword Oy, which is currently the second largest owner of the Company, has
undertaken to sell to Preato Capital a total of 120,000 shares, which
corresponds to a total of 4.68 percent of the shares and votes in the Company.
It is estimated that the purchase will be carried out on Nasdaq Helsinki today
at the price of 8.70 euros per share. In addition, Wonderword Oy has undertaken
to sell the rest of its shares in Yleiselektroniikka Oyj, 120,000 shares, to
Preato Capital through a purchase that will be carried out no later than on 5
July 2019, as estimated. The purchase price will be EUR 8.70 per share.
In Helsinki, 17 June 2019
Preato Capital AB
Additional information:
Simon Hallqvist, Chairman of the Board, Preato Capital AB
Tel. +358 40 510 2760
Preato Capital in brief
Preato Capital is a privately owned investment company established in 2004.
Preato Capital invests in majorities in established and profitable small and
medium-sized companies in the Nordic region with a proven business model and
good cash flow. Preato Capital does not have a pre-determined holding period
for its investments and it does not actively seek exits but develops the target
companies actively in the long-term in close cooperation with their management.
Preato Capital has offices in both Helsinki and Stockholm.
Yleiselektroniikka in brief
Yleiselektroniikka is a Finnish electronics company established in 1969. The
Company is one of Finland's most significant component and production equipment
suppliers for demanding electronics and communications applications.
Yleiselektroniikka employs over 200 people, of whom approximately 50 in
Finland. In addition to Finland, the Company has operations in the Baltic
countries and Russia. In 2018, the Company generated a turnover of 57.2 million
euros. The Company is headquartered in Espoo, where it also has a store and a
product warehouse. Yleiselektroniikka has been listed on the Helsinki Stock
Exchange since 1988.
THIS RELEASE IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY
SECURITIES OR INVESTMENTS IN A COUNTRY WHERE AN OFFER, SALE OR SOLICITATION OF
AN OFFER WOULD BE AGAINST THE LAW PRIOR TO REGISTRATION OR OTHER APPROVAL
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