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    Klövern AB  387  0 Kommentare Klövern announces a revised mandatory public cash offer to the shareholders of Tobin Properties

    Klövern announces a revised mandatory public cash offer to the shareholders of Tobin Properties

    Klövern AB (publ) ("Klövern") has today announced, through its indirectly wholly-owned subsidiary Dagon Sweden AB, registration number 556473-1213, (the "Offeror") a mandatory public cash offer in accordance with the Takeover Rules for certain trading platforms, effective as of 1 November 2017 by the Swedish Corporate Governance Board (the "Takeover Rules") to the shareholders of Tobin Properties AB (publ), registration number 556733-4379, ("Tobin Properties") to tender all outstanding ordinary shares and Class A preference shares in Tobin Properties to the Offeror. The Offeror offered SEK 20 in cash per ordinary share and SEK 108.50 in cash per Class A preference share in Tobin Properties.

    As revised compensation, the Offeror offers SEK 22.65 in cash per ordinary share and SEK 108.50 in cash per Class A preference share in Tobin Properties that are not already owned by the Offeror (the "Offer"). The shares in Tobin Properties are traded on Nasdaq First North Premier ("First North Premier").

    The Offeror has subscribed for 7,500,000 ordinary shares in Tobin Properties at a price of SEK 20 per ordinary share in a directed share issue (the "Directed Share Issue"), corresponding to issue proceeds in a total amount of SEK 150 million. The Offeror's ownership in Tobin Properties after the Directed Share Issue amounts to approximately 40 per cent of the total number of outstanding shares and approximately 42 per cent of the total number of outstanding votes in Tobin Properties. The obligation for the Offeror to announce the Offer occurred on 17 January 2018 when the Offeror was entered as owner in Tobin Properties' share register after the registration of the Directed Share Issue with the Swedish Companies Registration Office. For further information, see press release published by Klövern on 17 January 2018.

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    On 5 February 2018, Tobin Properties announced the outcome of a rights issue with preferential rights for its shareholders which was fully guaranteed by Klövern. The rights issue had been fully subscribed whereas Klövern will not need to fulfill its guarantee commitment. When the rights issue is registered, which is expected to occur on or about 12 February 2018, the Offeror's ownership in Tobin Properties will amount to approximately 35 per cent of the total number of outstanding shares and approximately 36 per cent of the total number of outstanding votes in Tobin Properties. Therefore, the Offeror's obligation to announce the Offer in accordance with the provisions of Section III of the Takeover Rules still applies.

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    Klövern AB Klövern announces a revised mandatory public cash offer to the shareholders of Tobin Properties Klövern announces a revised mandatory public cash offer to the shareholders of Tobin Properties Klövern AB (publ) ("Klövern") has today announced, through its indirectly wholly-owned subsidiary Dagon Sweden AB, registration number 556473-1213, …