Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act
(Thomson Reuters ONE) -
Vacon Plc, Stock Exchange Release, 27 October 2014 at 5.50 p.m. (EET)
Vacon Plc (ID 1519966-5) ("Vacon") has on 27 October 2014 received a
notification of major shareholdings pursuant to Chapter 9, Section 5 of the
Finnish Securities Market Act.
1. Full name of the issuer of shares:
Vacon Plc
2. Full name of the person(s) subject to notification obligation:
Danfoss A/S (20165715)
3. Chain of controlled undertakings:
Oy Danfoss Ab is 100 per cent directly owned by Danish company Danfoss
International A/S. Danfoss International A/S is 100 per cent directly owned by
Danish company Danfoss A/S.
4. Date on which the threshold is reached or crossed:
24 October 2014
5. Reason for the notification:
Danfoss A/S' indirect and Oy Danfoss Ab's direct ownership in Vacon is currently
3,053,400 shares and voting rights in Vacon, which corresponds to 9.98 per cent
of all the shares and voting rights in Vacon.
Oy Danfoss Ab has on 29 September 2014 commenced the voluntary public tender
offer recommended by the Board of Directors of Vacon for all the issued and
outstanding shares in Vacon. The offer period under the Tender Offer commenced
on 29 September 2014 and was initially scheduled to expire on 28 October 2014
(the 'Offer Period'). Pursuant to the terms and conditions of the Tender Offer,
the Offeror has on 27 October 2014 decided to extend the Offer Period to expire
on 21 November 2014 at 4:00 pm (Finnish time) to allow sufficient time to
complete the approval processes of relevant authorities. Certain large
shareholders of Vacon, together representing approximately 14.32 per cent of
Vacon's all shares and voting rights, have subject to certain customary
conditions undertaken to accept the tender offer.
Shareholders of Vacon the holdings of which amount to 15,707,997 Vacon shares
representing 51.35 per cent of all the shares in Vacon have accepted (or have
signed an undertaking to accept) the Tender Offer in accordance with its terms
and conditions by 24 October 2014. In addition, the Offeror and AC Invest Three
B.V. have on 11 September 2014 entered into an agreement on the sale to the
Offeror of AC Invest Three B.V.'s whole holding in Vacon corresponding to a
10.56 percent shareholding in Vacon.
Based on Danfoss A/S' and Oy Danfoss Ab's current ownership and shareholders'
acceptances of the tender offer received by 24 October 2014 (including the
shares represented by the above undertakings to accept the tender offer),
Danfoss A/S' indirect and Oy Danfoss Ab's direct ownership would exceed 50 per
cent of all the shares and voting rights in Vacon in case the tender offer is
completed. The acceptances of the offer are valid until the expiry of the
acceptance period under the tender offer, unless withdrawn, and the ownership
thereunder will be transferred to Danfoss in connection with the completion of
the tender offer.
The total indirect ownership of Danfoss A/S and direct ownership of Oy Danfoss
Ab may on the basis of the above amount to a maximum of 18,937,685 shares which
corresponds to 61.91 per cent of all the shares and voting rights in Vacon.
Vacon Plc has a total of 30,590,000 shares. The company has only one class of
shares and each share entitles to one vote.
VACON PLC
Further information:
* Sebastian Linko, Director, Corporate Communications and Investor Relations,
+358 (0)40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief
Vacon is driven by a passion to develop, manufacture and sell the best AC drives
and inverters in the world - and provide customers with efficient product
lifecycle services. Our AC drives offer optimum process control and energy
efficiency for electric motors. Vacon inverters play a key role when energy is
produced from renewable sources. Vacon has production and R&D facilities in
Europe, Asia and North America, and sales offices in 30 countries. Further,
Vacon has sales representatives and service partners in nearly 90 countries. In
2013, Vacon's revenues amounted to EUR 403.0 million, and the company employed
globally approximately 1,600 people. The shares of Vacon Plc (VAC1V) are quoted
on the main list of the Helsinki stock exchange (NASDAQ OMX Helsinki).
Driven by Drives, www.vacon.com
Distribution:
NASDAQ OMX Helsinki
Financial Supervisory Authority
Main media
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vacon Oyj via GlobeNewswire
[HUG#1866102]
Unternehmensinformation / Kurzprofil:
Datum: 27.10.2014 - 16:50 Uhr
Sprache: Deutsch
News-ID 347203
Anzahl Zeichen: 5382
contact information:
Town:
Vaasa
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 175 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act"
steht unter der journalistisch-redaktionellen Verantwortung von
Vacon Oyj (Nachricht senden)
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