Fr. Koulermos holds 96.38% of Telia after PO
5/10/2011 10:11
Subject: Announcement of result of the Public Offer by Mr. Frixos Koulermos to the shareholders of Telia Aqua Marine Public Limited
Pursuant to the provisions of article 38 of the Takeover Bid Law 2007, N41(I)/2007, Mr. Frixos Koulermos (the Offeror) announces that the period of acceptance of the Public Offer for the acquisition of up to 100% of the issued share capital of Telia Aqua Marine Public Limited with a proposed consideration of €0.40 per share cash, which was announced on August 8, 2011, expired on October 3, 2011.
The total rate of acceptance of the Public Offer by the shareholders of Telia stood at 19.40%, that is, 4,408,154 shares in the issued share capital of Telia, including 16.94% or 3,850,000 shares from persons acting in agreement with the Offeror, his daughters, Irene Larcou and Elli Koulermou Hassikou, who irrevocably committed to accept the Public Offer. The rate of acceptance of the Public Offer together with 76.99%, that is, 17,496,465 shares in the issued share capital of Telia that the Offeror already holds, gives him a total 96.38% or 21,904,619 shares of the issued share capital of Telia. At the date of this announcement, the issued share capital of Telia stands at 22,727,000 shares of nominal value €0.34 each.
It is noted that the final rate of acceptance might change in case that at the final audit of the Acceptance Forms and the documents required to accompany it is ascertained that the data are erroneous or insufficient and, therefore, are not accepted.
The payment of the consideration of €0.40 cash per share to all shareholders who accepted the Public Offer will be carried out in 14 business days from the date of announcement of the result of the PO, that is, until October 25, 2011, with the dispatch of cheques to the beneficiaries.
Pursuant to article 36 of the Law, the Offeror intends to exercise a squeeze out for the transfer of the rest of Telia shares at a price equal to the proposed consideration of the Public Offer so as to acquire up to 100% of the issued share capital of Telia. With the completion of the transfer of the shares to the shareholders who accepted the Public Offer to the Offeror, the Offeror will apply to the Cyprus Securities and Exchange Commission for the exercise of a squeeze out pursuant to article 36(d) of the Law.
The announcement on the result of the Public Offer will be announced in two national newspapers on October 6, 2011.
The Offeror would like to thank the shareholders of Telia Aqua Marine Public Limited for their response.
Pursuant to the provisions of article 38 of the Takeover Bid Law 2007, N41(I)/2007, Mr. Frixos Koulermos (the Offeror) announces that the period of acceptance of the Public Offer for the acquisition of up to 100% of the issued share capital of Telia Aqua Marine Public Limited with a proposed consideration of €0.40 per share cash, which was announced on August 8, 2011, expired on October 3, 2011.
The total rate of acceptance of the Public Offer by the shareholders of Telia stood at 19.40%, that is, 4,408,154 shares in the issued share capital of Telia, including 16.94% or 3,850,000 shares from persons acting in agreement with the Offeror, his daughters, Irene Larcou and Elli Koulermou Hassikou, who irrevocably committed to accept the Public Offer. The rate of acceptance of the Public Offer together with 76.99%, that is, 17,496,465 shares in the issued share capital of Telia that the Offeror already holds, gives him a total 96.38% or 21,904,619 shares of the issued share capital of Telia. At the date of this announcement, the issued share capital of Telia stands at 22,727,000 shares of nominal value €0.34 each.
It is noted that the final rate of acceptance might change in case that at the final audit of the Acceptance Forms and the documents required to accompany it is ascertained that the data are erroneous or insufficient and, therefore, are not accepted.
The payment of the consideration of €0.40 cash per share to all shareholders who accepted the Public Offer will be carried out in 14 business days from the date of announcement of the result of the PO, that is, until October 25, 2011, with the dispatch of cheques to the beneficiaries.
Pursuant to article 36 of the Law, the Offeror intends to exercise a squeeze out for the transfer of the rest of Telia shares at a price equal to the proposed consideration of the Public Offer so as to acquire up to 100% of the issued share capital of Telia. With the completion of the transfer of the shares to the shareholders who accepted the Public Offer to the Offeror, the Offeror will apply to the Cyprus Securities and Exchange Commission for the exercise of a squeeze out pursuant to article 36(d) of the Law.
The announcement on the result of the Public Offer will be announced in two national newspapers on October 6, 2011.
The Offeror would like to thank the shareholders of Telia Aqua Marine Public Limited for their response.
