Incap Corporation
Stock Exchange Release 12 December 2014 at 11.45 am (EET)
INCAP CORPORATION: INISSION AB HAS ANNOUNCED ITS INTENTION TO MAKE A MANDATORY PUBLIC TENDER OFFER FOR INCAP CORPORATION`S SHARES
Incap Corporation has on 12 December 2014 received the following notification, in accordance with chapter 11, section 19 of the Finnish Securities Markets Act, of publishing a mandatory takeover bid according to which:
Inission AB ("Inission"), a Swedish privately owned contract manufacturer, has on 11 December 2014 acquired 4,522,948 shares in Incap Corporation ("Incap" or the "Company"), a Finnish contract manufacturer in electronics. Pursuant to this, Inission`s ownership in Incap has increased from 28,500,000 shares to 33,022,948 shares corresponding approximately to 30.27 per cent of all the shares and related voting rights in the Company. Incap does not hold any of its own shares. As a result of the acquisition of the aforesaid shares, Inission will be obligated to make a mandatory public tender offer for all the other shares and securities entitling to the shares in Incap in accordance with Chapter 11, Section 19 of the Finnish Securities Markets Act.
In addition to the already executed share purchase, Inission has received an undertaking from a shareholder representing approximately seven per cent of all the shares in Incap to irrevocably and unconditionally accept the tender offer.
The price to be offered for each Incap share in the mandatory public tender offer will be EUR 0.03 in cash. This corresponds to the highest price paid by Inission for any Incap share during the six-month period preceding the date when Inission became obligated to make the public tender offer. The closing price of Incap on NASDAQ OMX Helsinki was EUR 0.06 on 10 December 2014 i.e. on the last trading day preceding the date when Inission became obligated to make the public tender offer. The volume-weighted average trading price of Incap shares on NASDAQ OMX Helsinki during the three-month period preceding the date when Inission became obligated to make the public tender offer was EUR 0.06 and during the six and nine-month period preceding the date when Inission became obligated to make the public tender offer EUR 0.06 and EUR 0.05, respectively.
Inission aims to publish the tender offer on January 7, 2015, at the latest. It is further Inission`s intention that the acceptance period of the mandatory tender offer will begin approximately on 8 January, 2015 and end on 30 January, 2015.
INCAP CORPORATION
Ville Vuori
President and CEO