Altor AB Announces the Outcome and Extends the Acceptance Period of the Recommended Public Cash Offer to the Shareholders in Transcom

STOCKHOLM, Feb 24, 2017 /PRNewswire/ --

The Offer is not being made, and this press release may not be distributed, directly or indirectly, in or into, nor will any tender of shares be accepted from or on behalf of holders in, Australia, Hong Kong, Japan, Canada, New Zealand, South Africa or the United States of America, or any other jurisdiction in which the making of the Offer, the distribution of this press release or the acceptance of any tender of shares would contravene applicable laws or regulations or require further offer documents, filings or other measures in addition to those required under Swedish law.

On 21 December 2016, Altor AB announced a recommended public cash offer to the shareholders of Transcom WorldWide AB ("Transcom") to tender all their shares in Transcom to Altor AB for SEK 87.50[1] per share (the "Offer").

As of 21 February 2017, which was the last day of the acceptance period under the Offer, Transcom shareholders holding an aggregate of 14,767,297 shares, corresponding to approximately 56.3% of the total number of shares and votes in Transcom, had accepted the Offer[2].

Prior to the announcement of the Offer, Altor AB held 6,377,238 shares in Transcom, representing approximately 24.3% of the shares and votes in Transcom (excluding 702,966 shares held by Transcom in treasury). Altor AB has not purchased any Transcom shares (or any financial instruments that give a financial exposure to Transcom shares) outside the Offer.

The completion of the Offer is conditional upon, inter alia, the Offer being accepted to such extent that Altor AB becomes the owner of more than 90% of all shares in Transcom. As announced by Altor AB on 17 February 2017, the condition regarding receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions has been satisfied.

Altor AB has decided to extend the acceptance period until 5.00 p.m. CET on 10 March 2017. Settlement will be initiated as soon as Altor AB announces that the conditions for the Offer have been satisfied or Altor AB otherwise decides to complete the Offer. Provided that such announcement is made on or around 15 March 2017, at the latest, settlement is expected to be initiated on or around 22 March 2017. All other terms and conditions set out in the offer document, including conditions for completion of the Offer, continue to apply.