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Accelerated bookbuild offering of expectedly DKK 7,051 million worth of Tryg A/S shares to be issued as part of the Tryg A/S rights issue announced on 1 March 2021

Nachrichtenquelle: globenewswire
03.03.2021, 17:44  |  125   |   |   

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR IN ANY JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN, IN OR INTO ANY JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

PRESS RELEASE 3 March 2021

Accelerated bookbuild offering of expectedly DKK 7,051 million worth of Tryg A/S shares to be issued as part of the Tryg A/S rights issue announced on 1 March 2021

This announcement is made with reference to the announcement published by Tryg A/S (“Tryg”) on 1 March 2021 of a DKK 37,013 million fully underwritten rights issue (the “Rights Issue”) in connection with Intact Financial Corporation and Tryg’s recommended cash offer for RSA Insurance Group plc announced on 18 November 2020 (the “Recommended Cash Offer”).

Danske Bank A/S (“Danske Bank”) and Morgan Stanley & Co. International plc (“Morgan Stanley”) (together the “Managers”), on behalf of TryghedsGruppen smba (“TryghedsGruppen”), announce the launch of an accelerated bookbuild offering to institutional investors of expectedly DKK 7,051 million worth of new Tryg shares, which are to be issued as part of the Rights Issue (the “New Shares”) (the “Transaction”).

The shares offered in the Transaction will be Interim Shares (as defined below) and will result from the exercise of preemptive rights (acquired from TryghedsGruppen) in the Rights Issue. The exact number of Interim Shares offered, the number of preemptive rights to be sold by TryghedsGruppen and the price to be paid for the preemptive rights acquired from TryghedsGruppen will depend on the execution terms of the Transaction.

TryghedsGruppen remains fully supportive of the Recommended Cash Offer and is conducting the Transaction with the sole purpose of maximising its participation in the Rights Issue, as part of its irrevocable undertaking to Tryg and the Managers in connection with the Rights Issue. Consequently, all proceeds (less transaction costs) received by TryghedsGruppen from the sale of preemptive rights as part of the Transaction will be used to subscribe for additional new shares in the Rights Issue. TryghedsGruppen’s ownership of Tryg is expected to reduce to approximately 45% following the Rights Issue, although the exact ownership level will depend on the execution terms of the Transaction.

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Disclaimer

Accelerated bookbuild offering of expectedly DKK 7,051 million worth of Tryg A/S shares to be issued as part of the Tryg A/S rights issue announced on 1 March 2021 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR IN ANY JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS …

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