Savaria Successfully Completes its Offer to Acquire Handicare Group AB

THIS ANNOUNCEMENT IS FOR INFORMATION ONLY AND IT IS NOT AN OFFER TO BUY OR SOLICITATION OF OFFERS TO BUY ANY SECURITIES. INFORMATION REGARDING THE OFFER TO THE SHAREHOLDERS OF HANDICARE GROUP AB AS ANNOUNCED IN A SEPARATE PRESS RELEASE IS AVAILABLE ONLY TO SHAREHOLDERS IN CERTAIN PERMITTED JURISDICTIONS. NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.

LAVAL, Québec, March 04, 2021 (GLOBE NEWSWIRE) -- Savaria Corporation (TSX: SIS) (“Savaria” or the “Corporation”), a global leader in the accessibility industry, is pleased to announce the successful completion of its recommended cash offer to acquire all of the issued and outstanding shares of Handicare Group AB (STO:HANDI) (“Handicare”) for SEK50.00 per share (the “Offer”). Following the conclusion of the acceptance period under the Offer, which ended on March 4, 2021, the Offer has been accepted by shareholders representing a total of 56,118,445 shares of Handicare, corresponding to 95.2 per cent of the total number of outstanding shares and votes in Handicare. Accordingly, all conditions for the completion of the Offer have now been satisfied, and Savaria expects to acquire the shares tendered under the Offer on March 11, 2021. Furthermore, the compulsory redemption of the remaining shares in Handicare has been initiated and the delisting of Handicare’s shares from Nasdaq Stockholm will promptly be put into motion.

“It is with great pleasure that I welcome the 940 employees of Handicare to the Savaria family. In math, we learn that 1 plus 1 equals 2. But in life, sometimes it can be different. Savaria with Handicare will demonstrate that 1 plus 1 is greater than 2. Together, we can achieve more; serving more customers, with more products, into more markets and with the best customer service. Our synergies are evident today and will build powerfully in the coming months and years. Thank you to all employees for their ongoing support and a special thank you to our acquisition team, and financial and legal partners, for their tireless work to complete this historical transaction,” commented Marcel Bourassa, President and Chief Executive Officer of Savaria.