Brief: Orrön Energy Announces Recommended Public Cash Offer To Slitevind Shareholders

Orron Energy AB

01/08/2022 07:10

Aug 1 (Reuters) - Orron Energy AB  ORRON.ST :
    * ORRÖN ENERGY ANNOUNCES A RECOMMENDED PUBLIC CASH OFFER OF
SEK
125 PER SHARE TO THE SHAREHOLDERS OF SLITEVIND AB
    * TO TENDER ALL SHARES IN SLITEVIND FOR SEK 125 IN CASH PER
SHARE
    * OFFER IS UNANIMOUSLYR ECOMMENDED BY BOARD OF DIRECTORS OF
SLITEVINDAND
    * SHAREHOLDERS IN SLITEVIND REPRESENTING 49.5 PERCENT OF
TOTAL
NUMBER OF SHARES HAVE IRREVOCABLY UNDERTAKEN TO ACCEPT OFFER
    * SHAREHOLDERS IN SLITEVIND COLLECTIVELY CONTROLLING ABOUT
10.3%
OF ALL SHARES AND VOTES HAVE CONFIRMED THEIR INTENTION TO ACCEPT
OFFER
    * OFFER REPRESENTS A PREMIUM OF 30.0 % COMPARED TO VOLUME
WEIGHTED
AVERAGE PRICE PER SLITEVIND SHARE ON NASDAQ FIRST NORTH GROWTH
MARKET
    * MEMBERS OF BOARD OF DIRECTORS OF SLITEVIND WHO HAVE
RECOMMENDED
SHAREHOLDERS TO ACCEPT OFFER COLLECTIVELY CONTROL APPROXIMATELY
6.7 PERCENT OF ALL SHARES AND VOTES IN SLITEVIND
    * DEAL INCREASES ORRÖN ENERGY'S NET POWER GENERATION TO >1
TWH PER
ANNUM BY END 2023
    * ORRÖN ENERGY REMAINS FULLY FUNDED WITH ADDITIONAL HEADROOM
AND
DEBT CAPACITY TO CONTINUE TO GROW
    * ACCEPTANCE BY SHAREHOLDERS HOLDING MORE THAN 90 PERCENT OF
SHARES IN SLITEVIND IS REQUIRED FOR COMPLETION OF OFFER
    * ORRÖN ENERGY WILL FINANCE OFFER WITH EXISTING CASH
RESERVES AND
HAS SECURED ADDITIONAL FINANCING THOUGH A COMMITTED CREDIT
FACILITY PROVIDED BY SKANDINAVISKA ENSKILDA BANKEN AB (PUBL)
    * ACCEPTANCE PERIOD COMMENCING ON 2 AUGUST 2022 AND EXPIRING
ON 23
AUGUST 2022

Source text for Eikon:  ID:nGNE91Tn95 
Further company coverage:  ORRON.ST 

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