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     113  0 Kommentare NOTICE OF INTENTION TO MAKE A VOLUNTARY TAKEOVER OFFER TO ACQUIRE THE SHARES OF AKTSIASELTS TALLINK GRUPP

    AS INFORTAR (a company registered in Estonia with registry code 10139414, “Infortar” or “Offeror”) announces its intention to make a voluntary takeover offer to all shareholders of Aktsiaselts Tallink Grupp (“Tallink”) to acquire all shares of Tallink not held by the Offeror (“Offer”).

    After the Offer, the Offeror does not intend to apply for takeover of the remaining shares either according to § 1821 of the Estonian Securities Market Act or provisions of chapter 291 of the Estonian Commercial Code. With the Offer the Offeror wishes to increase its shareholding in Tallink and to offer the investors of Tallink an opportunity to exit their investment in extent and on conditions not available on the stock exchange. As of the date of this notice the Offeror does not intend to initiate proceedings for terminating the listing of Tallink shares at Nasdaq Tallinn Stock Exchange or Nasdaq Helsinki Stock Exchange (with respect to depository receipts).

    The Offer takes place as a voluntary takeover offer and the Offeror is not obliged to conduct the Offer under § 166 of the Estonian Securities Market Act. The Offeror makes the Offer with the price of 0.55 euros per one Tallink share. Upon determining the offer price, the average market price of Tallink shares for the last three years (ca 0.61 euros) has been taken into account from which the dividend payable to all shareholders of Tallink on 3 July 2024 in the sum of 0.06 euros per share has been deducted.

    A voluntary takeover offer means that the offeror must not determine the offer price based on the criteria for determining the just price specified in the takeover offer rules. Furthermore, this also means that the shareholders are not obligated to participate in the Offer. All shareholders may freely choose whether to accept the Offer or not. Infortar treats all shareholders equally and the Offer is made with respect to all shares of Tallink not yet belonging to the Offeror.

    Chairman of the Management Board of Infortar Ain Hanschmidt:

    „Estonian economy has been declining for nine consecutive quarters, country’s credit rating has been lowered and the geopolitical risk is still high. In case Tallink has any shareholders who doubt in the economic outlook of our region then this offer brings liquidity to the market and provides them an opportunity to consider an exit. Infortar believes in the financial and market position of Tallink and plans to keep it a public listed company, however, it must be taken into account that for larger international investors the liquidity of the company’s stock and market depth is limited – the average daily turnover of Tallink shares for the last year is about 175,000 euros“

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    NOTICE OF INTENTION TO MAKE A VOLUNTARY TAKEOVER OFFER TO ACQUIRE THE SHARES OF AKTSIASELTS TALLINK GRUPP AS INFORTAR (a company registered in Estonia with registry code 10139414, “Infortar” or “Offeror”) announces its intention to make a voluntary takeover offer to all shareholders of Aktsiaselts Tallink Grupp (“Tallink”) to acquire all shares of …