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Hexagon AB announces completion of compulsory acquisition of minority shareholdings in Veripos Inc and Veripos applies for delisting from Oslo Stock Exchange


Friday, 14 Mar 2014 03:30am EDT 

Hexagon AB:Says on Feb. 10 it announced its intention to complete a compulsory acquisition of any minority shares in Veripos not already owned indirectly by Hexagon.Says cash settlement of the offer was, as announced, conducted on Feb. 18, following which Hexagon became owner of 97.28 pct of the total shares in Veripos through its wholly owned subsidiaries Hexagon Acquisition Ltd and Hexagon Positioning Limited.Says the board of Veripos on Feb. 28, the respective board of directors of Hexagon Acquisition and Veripos resolved to enter into a plan of merger.Says the was completed March 13, after 16:30 CET, and is effective as of March 12.Says as at effective date, Hexagon Positioning became owner of 100 pct of shares in Veripos and 2.72 pct of shares in Veripos which at 16:30 CET on effective date were not indirectly owned by Hexagon were canceled.Says settlement of consideration will take place on or about March 18 through payment in cash made by DNB Bank ASA, on behalf of Hexagon, to bank account registered with former shareholder’s VPS account.Says Veripos has applied to Oslo Bors for delisting of the shares and expects such delisting to take place shortly following the completion of the merger. 

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