PRESS RELEASE 20 MARCH 2017 9.00 A.M.
ARBITRATION AWARD REGARDING COMPULSORY ACQUISITION OF SHARES IN PARTNERTECH AB
On 25 May 2015, Scanfil Oyj (“Scanfil”) announced a public offer to the shareholders of PartnerTech AB (“PartnerTech”) to tender all shares in PartnerTech to Scanfil at a price of SEK 35 in cash per share (the “Offer”). The shares tendered in the Offer up until the end of the extension of the acceptance period on 9 July 2015 corresponded to 98.6 percent of the shares and votes in PartnerTech. On 25 June 2016, Scanfil instigated arbitration proceedings to acquire the remaining minority shares in Partnertech. On 14 January 2016 the arbitration panel confirmed Scanfils right to acquire remaining shares in PartnerTech and granted Scanfil advance title to the remaining shares. In connection with that, Scanfil settled the undisputed redemption price of SEK 35 per share.
On 17 March 2017, the arbitration panel confirmed in an award that the price per share to be paid in the compulsory acquisition is SEK 35, which corresponds to the price per share paid in the Offer. The outcome is in line with the main rule for determining the compulsory redemption price following a public takeover offer.
If the arbitration award is not appealed against pursuant to Chapter 22, section 24, of the Swedish Companies Act, it will attain legal force on 17 May 2017.
Following the completion of the compulsory acquisition, Scanfil will be the holder of 100 per cent of the outstanding shares and votes in PartnerTech.
CEO Petteri Jokitalo
Tel +358 8 4882 111
Scanfil is an international contract manufacturer and system supplier for the electronics industry with 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.
Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil’s services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of 10 production units in Europe, Asia and North America. The total number of employees is 3,300.
Due to legal restrictions, the information on this part of the website is not directed at or accessible to certain persons. We kindly ask you to review the following information and provide the following confirmation each time you wish to access this part of the website. Please note that the terms set out below may be altered or updated and therefore it is important that you review them each time you visit this website.
On 25 May 2015, Scanfil Oyj announced a cash offer to the shareholders in PartnerTech AB regarding acquisition of all the shares in PartnerTech AB (the “Offer”).
The Offer is not being made in any jurisdictions where the Offer or approval of an acceptance of the Offer cannot be made in accordance with laws and regulations in these jurisdictions or where acceptance or ap-proval of an acceptance of the Offer requires additional offer documents, registration or other measures than those required under Swedish law, except in the event of applicable exemptions.
The Offer is not being made to persons whose participation in the Offer requires that any additional offer document is prepared or registration effected or that any other measures are taken in addition to those required under Swedish law. Documentation relating to the Offer must not be mailed, sent or otherwise distributed to, into or in any country in which the distribution or offering would require any additional measures required to be taken by any law or regulation in such country or that would be in conflict with any law or regulation in such country. Any such action will not be permitted or sanctioned by Scanfil Oyj. Any attempt to accept the Offer in direct or indirect violation of the abovementioned restrictions may be disre-garded.
The Offer is not being made, directly or indirectly, in or into Australia, Hong Kong, Japan, New Zealand, South Africa or the United States or in or into any other jurisdiction in which the distribution or acceptance of the Offer would not be made in compliance with the laws of such jurisdiction or where the acceptance or approval of an acceptance of the offer requires additional offer documents, registration or other measures than those required under Swedish law (together, the "Restricted Jurisdictions") by use of mail or any other means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, tele-phone and the Internet) of interstate or foreign commerce, or of any facility of national security exchange, of the Restricted Jurisdictions, and the Offer cannot be accepted by any such use, means, instrumentality or facility of, or from within, the Restricted Jurisdictions.
Accordingly, this website should not be accessed from, and any documentation relating to the Offer is not being and should not be sent, mailed or otherwise distributed, forwarded or sent into the Restricted Juris-dictions. The offer document, the acceptance form and any documentation related to the Offer will not be sent, and must not be sent, to shareholders with registered addresses in the Restricted Jurisdictions. Banks, brokers and other institutions holding nominee-registered shares on behalf of persons in the Restricted Jurisdictions may not forward the offer documents or any documentation related to the Offer, or otherwise make the Offer available, to such persons.
By accepting these conditions, I confirm that I have read the information, the conditions and the instructions on this website and that I accept to be bound by them and that I am not a resident of, nor located in Australia, Hong Kong, Japan, New Zealand, South Africa or the United States or any other Restricted Juris-diction.