Result of Recommended Tender Offer for Shares of Codan A/S.LONDON -- On 24 May 2007, Royal & Sun Alliance Insurance Group plc's subsidiary, RSA (1) (Rural Service Area) See MSA. (2) (Rivest-Shamir-Adleman) A highly secure cryptography method by RSA Security, Inc., Bedford, MA (www.rsa.com), a division of EMC Corporation since 2006. It uses a two-part key. Overseas Holdings B.V. ("R&SA"), launched a voluntary conditional public tender offer (the "Tender Offer") for the acquisition of all the outstanding issued shares and voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. in Codan A/S. On 21 June 2007 at 20.00 CET CET abbr. Central European Time CET Central European Time CET n abbr (= Central European Time) → hora de Europa central CET abbr the Tender Offer expired and at that time R&SA owned or had received valid acceptances for an aggregate of 41,894,201 Codan shares of nominal value DKK DKK In currencies, this is the abbreviation for the Danish Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 each. R&SA now holds 97.4% of the issued Shares and voting rights of Codan excluding the 2,212,825 (4.89%) treasury shares already held by Codan. R&SA considers all conditions of the Tender Offer to have been satisfied and confirms that it will complete the Tender Offer. Settlement is expected to take place on 28 June 2007. R&SA intends to initiate a compulsory acquisition procedure to acquire the remaining shares, and has today requested an Extraordinary General Meeting of Codan to seek shareholder approval for the delisting of Codan shares from the Copenhagen Stock Exchange Copenhagen Stock Exchange The only securities exchange in Denmark. It features electronic trading of stocks, bonds, futures, and options. . |
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