Reference is made to (i) the announcement made by BW Sirocco Holdings AS (the "Offeror) on 9 November 2023 regarding a recommended voluntary offer to acquire all the issued and outstanding shares (the "Shares") in BW Ideol AS ("BW Ideol" or the "Company"), not already held by the Initiating Shareholders (as defined in the Offer Document), at an offer price of NOK 12 per Share (the "Offer Price"), to be settled in cash or shares in the Offeror (the "Offer"), as further described in the combined offer document and national prospectus (the "Offer Document"), (ii) the announcement on 14 November regarding the publication of the Offer Document and commencement of the offer period under the offer (the "Offer Period"), (iii) the announcement on 28 November 2023 regarding the extension of the Offer Period and that the Offeror had received binding acceptances in excess of 90% of the Shares and that the condition for minimum acceptances had been fulfilled, (iv) the announcement on 30 November 2023 regarding the end of the Offer Period and final level of acceptances of the offer, (v) the announcement 7 December 2023 regarding completion and settlement of the Offer and (vi) the announcement 8 December 2023 regarding exercise of the right to compulsory acquisition of the remaining shares in BW Ideol AS.
The Offeror hereby announces that the compulsory acquisition of the remaining Shares in BW Ideol not owned by the Offeror pursuant to Section 4-26 of the Norwegian Private Companies Act was completed on 11 December 2023 and that settlement of the acquisition price of NOK 12 per Share takes place today, 13 December 2023. As a consequence, the Offeror has assumed ownership of all the shares in BW Ideol.
As a consequence of the Offeror having assumed ownership of alle the shares in BW Ideol, and as further described in section 5.2.15 (Delisting of the BW Ideol Shares) of the Offer Document, the Offeror will propose to the general meeting of BW Ideol to apply to Oslo Børs for the delisting of the BW Ideol Shares from Euronext Growth. A separate stock exchange announcement will be published regarding the timing of the delisting.
ADVISORS
Danske Bank, Norwegian Branch, is acting as financial advisor to the Offeror and receiving agent for the Offer. Advokatfirmaet Thommessen AS is acting as legal advisor to the Offeror.
