EQT: ESML Intressenter Increases Its Shareholding to above 90 Procent and Prepares for Compulsory Squeeze-out in Securitas Direct.
During the autumn 2007, ESML Intressenter AB ("ESML"), wholly owned by EQT V Limited, announced a public cash offer for all shares in Securitas Direct AB. The offer was completed on 20 March 2008, at which time ESML reached an ownership of approximately 80 percent of all shares in the company. The Securitas Direct B-share was de-listed from OMX Nordic Exchange Stockholm on 15 August 2008.
ESML hereby announces that the company through continuous acquisitions of shares in Securitas Direct AB has reached an ownership of more than 90 percent. ESML is now preparing the initiation of compulsory squeeze-out of the remaining minority shares.
The acquisitions have been made partly through an offer during the last couple of weeks to Swedish shareholders with minor holdings, partly through the acquisition of the approximately 10 percent stake held by the US hedge fund Pennant. The majority of the acquisitions have been made at a price below, and none at a price exceeding, the public cash offer made by ESML, i.e. SEK 27.50. The Pennant holding was acquired at SEK 26.25 per share.
Announcement of initiation of compulsory squeeze-out will be made through a press release and through information on the websites of EQT and Securitas Direct AB.
Stockholm October 21, 2008
ESML Intressenter AB
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|Date:||Oct 21, 2008|
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