Telenor Finland Holding Oy (the “Offeror”) commenced a mandatory public cash tender offer to acquire all of the issued and outstanding shares in DNA Plc (“DNA”) that are not held by DNA or any of its group companies or by the Offeror or any of its group companies (the “Shares”) (the “Tender Offer”) on 29 August 2019. The Offeror has on 28 August 2019 published the tender offer document concerning the Tender Offer and supplemented it on 4 September 2019 (tender offer document as supplemented, the “Tender Offer Document”).
The Offeror has today announced the following by way of a stock exchange release:
The consideration offered for each Share validly tendered in the Tender Offer is EUR 20.90 in cash (the “Offer Price“), as set out in the Tender Offer Document.
The offer period of the Tender Offer commenced on 29 August 2019 at 9:00 a.m. (Finnish time) and was scheduled to expire on 26 September 2019 at 4:00 p.m. (Finnish time) (the “Initial Offer Period“).
In accordance with the terms and conditions of the Tender Offer, the Offeror has today decided to extend the offer period of the Tender Offer to expire on 10 October 2019 at 4:00 p.m. (Finnish time) (the “Extended Offer Period“), unless the offer period is further extended. The Extended Offer Period provides the remaining shareholders with a possibility to accept the Tender Offer.
During the Extended Offer Period, the Tender Offer can be accepted in accordance with the acceptance procedure described in the Tender Offer Document.
The sale and purchase of the Shares will be executed with respect to all DNA shareholders who have validly accepted the Tender Offer during the Extended Offer Period (and not validly withdrawn their acceptances) no later than on 16 October 2019. The completion trades concerning such Shares will be settled and the Offer Price will be paid to such DNA shareholders in accordance with the terms and conditions of the Tender Offer on or about 16 October 2019.
The extension of the offer period does not affect Shares which have been validly tendered during the Initial Offer Period. The sale and purchase of and payment of the Offer Price for Shares which have been validly tendered during the Initial Offer Period will be made in accordance with the terms and conditions of the Tender Offer no later than on 2 October 2019.
The Offeror will on or about 27 September 2019 announce the preliminary percentage of the Shares which have been validly tendered (and not validly withdrawn) during the Initial Offer Period and the final percentage of such Shares on or about 1 October 2019.
DNA is one of the leading telecommunications companies in Finland. We want to make our customers’ daily lives less complicated. We offer connections, services and devices for homes and workplaces, contributing to the digitalisation of society. DNA