The acceptance period ended on 30 June 2021 and OrganoClick today announces that the Offer has been accepted by shareholders representing 117,250 preference shares, corresponding to approximately 58.63 percent of the total number of preference shares in OrganoWood and approximately 5.33 percent of the total number of shares in OrganoWood.
Settlement is expected to begin around 7 July 2021, whereof OrganoClick acquires 70,350 preference shares against a cash consideration of in aggregate SEK 10,552,500 and the other holder of common shares acquires 46,900 preference shares against a cash consideration of in aggregate SEK 7,035,000.
OrganoClick already holds 1,200,000 common shares in OrganoWood, corresponding to 60 percent of the total number of common shares in OrganoWood. Following the Offer, OrganoClick will also hold 70,350 preference shares in OrganoWood, corresponding to approximately 35.18 percent of the total number of preference shares in OrganoWood. Accordingly, OrganoClick will hold in aggregate 1,270,350 shares in OrganoWood, corresponding to approximately 57.74 percent of the total number of shares and approximately 59.75 percent of the total number of votes in OrganoWood.
"OrganoWood has in recent years continuously increased its sales and improved its financial results. We believe that the new OrganoWood technology that will be launched shortly will contribute even more to a continued positive development for the company. The acquisition of just over 35% of OrganoWood's preference shares means that OrganoClick receives a larger share of OrganoWood's earnings, which improves OrganoClick's current earnings / share, and at the same time means that OrganoClick's shareholders receive a larger share of future value development in OrganoWood. We are also pleased that the preference shareholders who wished to sell their shares have now been given the opportunity, which has given a positive outcome for all parties." says Mårten Hellberg, CEO of OrganoClick.
The Buyers have engaged Vator Securities AB as financial advisor and issuer agent as well as Advokatfirman Schjødt as legal advisor in connection with the Offer.
This disclosure contains information that OrganoClick AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 05-07-2021 08:30 CET.