SWM International Recommended Cash Offer for UK-based Scapa Group PLC Receives Scapa Shareholder Approval

Proposed Acquisition Moves Forward in Accordance with UK Takeover Code Requirements

Alpharetta, GA, March 18, 2021 (GLOBE NEWSWIRE) -- SWM International (NYSE: SWM) announces that the recommended cash offer (made by SWM’s wholly owned indirect subsidiary) for the entire share capital of Scapa, a UK-based innovation, design, and manufacturing solutions provider for healthcare and industrial markets, has received approval from the requisite majority of Scapa shareholders. This approval marks an important milestone in the acquisition process, with remaining steps expected to take place early in Q2 2021.

 “We are very pleased with the results of the Scapa shareholder vote,” commented SWM CEO Dr. Jeffrey Kramer. “We remain convinced that the combination of Scapa’s robust product portfolio, well-recognized brands, and significant capabilities in healthcare and industrial markets with SWM’s extensive portfolio of performance materials will result in a well-positioned global business. We look forward to the completion of this process and beginning our shared journey as a newly combined company.”

The expected timetable of events for the implementation of the proposed agreement and other relevant materials and documents are available on the SWM International website at https://ir.swmintl.com/update-disclaimer.

Investor Materials

For more information on the transaction, please visit https://ir.swmintl.com/update-disclaimer to access the Rule 2.7 Announcement made in accordance with applicable UK regulations in connection with transaction (which includes the key information that is included in this announcement) and a presentation with additional details about Scapa’s products and capabilities and strategic rationale for the acquisition. The presentation is also attached as an exhibit to the 8-K filed in conjunction with this release. We strongly encourage you to read the Rule 2.7 Announcement; this announcement is not a summary of the Rule 2.7 Announcement and should not be regarded as a substitute for reading the Rule 2.7 Announcement in full.

Advisers

J.P. Morgan Securities LLC and its affiliate J.P. Morgan Securities plc, which conducts its UK investment banking business as J.P. Morgan Cazenove, is serving as financial adviser and King & Spalding International LLP is acting as the legal adviser to SWM.  Jefferies International Limited is acting as financial adviser and DLA Piper UK LLP is acting as legal adviser to Scapa.