On 10 October 2023, Kingspan Holdings (IRL) Limited (“Kingspan”) announced a mandatory offer to the shareholders of Nordic Waterproofing Holding AB (publ) (“Nordic Waterproofing” and the “Offer” respectively). Following the extension of the acceptance period announced by Kingspan on 9 January 2024, the board of directors of Nordic Waterproofing (the “Board”) wishes to announce that the board will provide its recommendation to the shareholders of Nordic Waterproofing in connection with the release of Nordic Waterproofing’s full-year results for 2023. As previously communicated Nordic Waterproofing’s year-end report for 2023 is scheduled to be released on 6 February 2024.
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.
According to the Swedish takeover rules, the Board is to announce its opinion regarding the offer and the reasons for this opinion. The Board is currently working on evaluating the Offer and as announced by Nordic Waterproofing on 13 December 2023, Nordic Waterproofing has appointed Bank of America Europe Designated Activity Company, Stockholm Branch to render a fairness opinion to the Board to support the Board in its evaluation of the Offer. The Board will provide its recommendation to the shareholders of Nordic Waterproofing regarding the Offer in connection with the release of Nordic Waterproofing’s full-year results for 2023. As previously communicated, Nordic Waterproofing’s year-end report for 2023 is scheduled to be released on 6 February 2024.
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.
