|[February 10, 2014]
Result of Hexagon's Recommended Unconditional Cash Offer for the Shares in Veripos
NACKA STRAND, Sweden --(Business Wire)--
Reference is made to the stock exchange notice from Hexagon AB on 20
December 2013 related to the recommended unconditional cash offer for
the remaining shares in Veripos Inc. ("Veripos") not already owned by
Hexagon Acquisition Ltd. (the "Offer"), an indirectly wholly owned
subsidiary of Hexagon AB (Hexagon AB and Hexagon Acquisition Ltd.
hereinafter jointly referred to as "Hexagon"), the offer document
related to the Offer dated 23 December 2013 (the "Offer Document") and
the stock exchange notice from Hexagon on 29 January 2014 regarding the
extension of the acceptance period under the Offer until 16:30 CET on 7
At expiry of the acceptance period, Hexagon had received acceptances of
the Offer from shareholders holding 22,317,896 shares, representing 67.4
per cent of the outstanding shares of Veripos. In addition, Hexagon owns
10,055,090 shares in Veripos, representing 30.3 per cent of the
otstanding shares of Veripos. Accordingly, Hexagon owns and has
received acceptances for 32,372,986 shares, representing 97.7 per cent
of the total shares in Veripos.
Please note that the result of the Offer is preliminary and may be
subject to adjustments, however, such adjustments (if any) are expected
to be non-material.
Cash settlement of the Offer will be conducted on 18 February 2014.
As stated in the Offer Document, it is Hexagon's intention, following
settlement of the Offer, to complete a compulsory acquisition of any
minority shares in Veripos not owned by Hexagon. Since Hexagon will own
more than 90 per cent of the shares of Veripos following the settlement
of the Offer, Hexagon has, as further stated in the Offer Document,
various options available for executing a compulsory acquisition under
Cayman law. Further announcement regarding the compulsory acquisition
will be made in due course.
SEB Corporate Finance is acting as financial adviser for Hexagon.
Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of
design, measurement and visualisation technologies. Our customers can
design, measure and position objects, and process and present data, to
stay one step ahead of a changing world. Hexagon's solutions increase
productivity, enhance quality and allow for faster, better operational
decisions, saving time, money and resources. Hexagon has more than
14,000 employees in over 40 countries and net sales of about 2,400 MEUR.
Our products are used in a broad range of industries including
surveying, power and energy, aerospace and defence, construction, safety
and security, automotive and manufacturing. Learn more at www.hexagon.com.
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