Slitevind transaction
Offer to the Shareholders of Slitevind AB
Orrön Energy, through Orrön Energy Holding AB announces a cash offer of SEK 125 per share to the shareholders of Slitevind. The Offer is unanimously recommended by the Board of Directors of Slitevind and shareholders in Slitevind representing 49.5 percent of the total number of shares have irrevocably undertaken to accept the Offer. In addition, shareholders collectively controlling approximately 10.3 percent of all shares have confirmed their intention to accept the Offer.
Offer Summary
- SEK 125 cash consideration for each share in Slitevind
- The Offer represents a premium of 30.0 percent compared to the volume weighted average price per Slitevind share on Nasdaq First North Growth Market during the 30 latest trading days up to and including 29 July 2022 of SEK 96.2
- Slitevind’s Board of Directors unanimously recommends shareholders to accept the Offer
- Major shareholders, collectively controlling 49.5 percent of all shares and votes, have irrevocably undertaken to accept the Offer
- Shareholders collectively controlling approximately 10.3 percent of all shares and votes have confirmed their intention to accept the Offer
- The members of the Board of Directors of Slitevind who have recommended the shareholders to accept the Offer collectively control approximately 6.7 percent of all shares and votes in Slitevind
- Acceptance by shareholders holding more than 90 percent of the shares in Slitevind is required for completion of the Offer, with the acceptance period commencing on 2 August 2022 and expiring on 5 September 2022
The Offer is not subject to any financing condition and will be financed with existing cash reserves and a committed credit facility by Skandinaviska Enskilda Banken AB (publ)
Slitevind has a highly skilled team and an attractive portfolio of renewables assets that complements Orrön Energy’s knowledge and track record of building growth companies and creating value for shareholders. Orrön Energy’s vision is to retain and build on the asset base and expertise from Slitevind, to create a renewables business of scale that can thrive in the energy transition.
As Orrön Energy is a publicly listed Company on Nasdaq Stockholm (ticker: “ORRON”), shareholders can invest in and remain exposed to Slitevind’s high quality asset base and expertise if this offer is accepted
For shareholder and media related questions, please contact
Robert Eriksson
Director Corporate Affairs and Investor Relations
Tel: +46 701 11 26 15
robert.eriksson@orron.com
Jenny Sandström
Communications Lead
Tel: +41 79 431 63 68
jenny.sandstrom@orron.com
Slitevind AB Offer Documents
Combination of oil and gas business with Aker AB
For more information around the combination of the legacy E&P business with Aker BP, share conversion and SDRs, please visit www.lundin-energy.com
Allocation of acquisition cost
In June 2022, Orrön Energy AB (publ) completed the distribution of the Company’s shares in Lundin Energy MergerCo AB (publ) to its shareholders through a Lex Asea dividend. The merger consideration that subsequently was paid to the shareholders of Lundin Energy MergerCo AB (publ) consisted of a mix of cash and shares in Aker BP.
The Swedish Tax Agency has issued general advice regarding the allocation of the acquisition cost for the share distribution and has determined that 1.8 percent of the acquisition cost shall be allocated to share in Orrön Energy AB (publ) and 98.2 percent of the shares shall be allocated to shares in Lundin Energy MergerCo AB (publ). The general advice applies as of the fiscal year 2022.
The Swedish Tax Agency’s general advice SKV A 2022:23 and notice SKV M 2022:17 are available (in Swedish) on the Swedish Tax Agency’s website www.skatteverket.se.
US investors
Form 8973 – US investors
206 KB