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Provider: Reuters Investment Profile
Provider: Wright Reports

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Financial Supervisory Authority Grants Inission AB Conditional Exemption from Obligation to Launch Bid for Incap Oyj in Event Inission Exercises Option to Combine and Unite Business Operations

Wednesday, 7 Aug 2013 06:30am EDT 

Incap Oyj announced that the Finnish Financial Supervisory Authority has granted Inission AB, along with FBM Consulting AB and Fredrik Berghel, which act in concert with Inission AB, an exemption from the obligation to launch a bid. The aforementioned parties would be subject to the obligation in the event of Inission AB exercising the option included in the comprehensive arrangement agreed between Inission AB and Incap Corporation to combine and unite Inission AB's business operations with Incap Corporation. In the event that the option is exercised, Incap Corporation will acquire Inission AB's subsidiaries' shares and business operations and pay the transaction price by directing a new share issue to Inission AB. In the event that Inission AB exercises the option to combine and unite business operations, it will hold a minimum of 51% and a maximum of 64% of all shares in Incap Corporation, thereby exceeding the legal limit for being under the obligation to launch a mandatory takeover bid. The exemption is granted on the condition that Inission AB, FBM Consulting AB and Fredrik Berghel, or any parties acting in concert with them, will not, after exceeding the legal limit for launching a mandatory bid, and with the exception of exercising the option, acquire or subscribe more shares in Incap Corporation or otherwise increase their share of the total votes in Incap Corporation. 

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0.0040 +4.21%
8:11am EDT