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.