On 10 October 2023, Kingspan Holdings (IRL) Limited (“Kingspan”) announced a mandatory offer to the shareholders of Nordic Waterproofing Holding AB (publ) (“Nordic Waterproofing” or “Company” and the “Offer” respectively). On 6 February 2024 the board of directors of Nordic Waterproofing their recommendation to the shareholders not to accept the cash-based mandatory public offer by Kingspan

The initial acceptance period for the Offer commenced on 23 November 2023 and was initially expected to end on 1 February 2024. With reference to the ongoing process to obtain merger approval from the EU Commission and in accordance with an exemption granted by the Swedish Securities Council, Kingspan, on 9 January 2024, announced that the initial acceptance period has been extended until 27 March 2024.

On 15 March 2024 Kingspan announced they had obtained the necessary merger approval for the Offer from the EU Commission. The sole condition for completion of the Offer has thereby been satisfied and the Offer is declared unconditional and will be completed.

On 28 March 2024, Kingspan announced that the Offer had been accepted by shareholders representing approximately 4.8 percent of the total number of shares and votes in the Company. Kingspan thus owns a total of 8,597,950 shares in Nordic Waterproofing, corresponding to approximately 35.7 percent of the total number of shares and votes in the Company.

As communicated on October 27, 2023, the Board has appointed Nordea Bank Abp, filial i Sverige as financial adviser and Setterwalls Advokatbyrå AB as legal adviser. The advisers are assisting the Board in its assessment of the Offer.