Carnegie financial adviser in the mandatory public tender offer of Silmäasema by Coronaria
Coronaria Oy (“Coronaria”) has, through share purchases made on 15 and 16 August 2019, acquired a total of 1,420,031 shares in Silmäasema Oyj (“Silmäasema”). As a result of the share purchases, Coronaria’s shareholding in Silmäasema increases to a total of 4,615,443 shares, corresponding to 32.4 per cent of all shares and voting rights in the Company, respectively. Consequently, Coronaria’s holding in Silmäasema exceeds 30 per cent of the shares and voting rights carried by Silmäasema’s shares and Coronaria is thereby obligated to launch a mandatory public tender offer for all shares and securities entitling to shares in Silmäasema (“Tender Offer”) in accordance with the Securities Markets Act.
The cash consideration represents a premium of approximately 7.5 per cent compared to the closing price of the Silmäasema share on Nasdaq Helsinki on 15 August 2019, the last trading day before the announcement of the Tender Offer, and a premium of approximately 9.4 per cent compared to the volume-weighted average price of the Silmäasema shares on Nasdaq Helsinki during the three-month time period preceding the date of the announcement of the Tender Offer.
Coronaria reserves the right to acquire shares in the Company before the commencement of the offer period, during the offer period and/or after the offer period of the Tender Offer through public trading on Nasdaq Helsinki.
Carnegie acted as financial adviser to Coronaria Oy