INFINERA INITIATES COMPULSORY ACQUISITION PROCEEDINGS AND TRANSMODE FILES FOR DE-LISTING
(Thomson Reuters ONE) -
Stockholm, Sweden - 25 August, 2015
On 12 August 2015, Infinera Corporation ("Infinera") announced that its public
takeover offer to the shareholders in Transmode AB (publ) ("Transmode" or the
"Company") was declared unconditional and completed. After completion of the
offer, Infinera holds more than 95 per cent of the shares and votes in Transmode
and has notified Transmode's board of directors that Infinera has resolved to
initiate compulsory acquisition proceedings regarding the remaining shares in
the Company.
In light of the above, Transmode's board of directors does not consider it
motivated for the Company to remain a listed company, and has therefore decided
to apply for de-listing of the Transmode share from Nasdaq Stockholm. The last
day of trading in the Transmode share at Nasdaq Stockholm will be announced as
soon as the Company has been notified thereof by Nasdaq Stockholm.
Further, as previously announced, the board of directors has summoned an
extraordinary general meeting to be held on 14 September 2015 to inter alia
elect a new board of directors in the Company.
For further information, please contact:
Karl Thedéen, Chief Executive Officer
Telephone: +46 8 527 675 50
About Transmode
Transmode is a global provider of packet-optical networking solutions that
enable fixed line and mobile network operators to cost effectively address the
capacity needs created by the rapid growth in video and data traffic. These
solutions are important building blocks in next-generation high-speed optical
networks that support services such as broadband backhaul, mobile data backhaul,
video delivery services and cloud computing. Transmode's solutions are designed
to increase the capacity, flexibility and functionality of metro and regional
networks and are based on Wavelength Division Multiplexing (WDM) and transport
technologies such as Ethernet. Transmode's Native Packet Optical 2.0
architecture gives customers key advantages such as cost efficient Ethernet
services, ultra-low latency, low power consumption and future proof network
design.
Transmode is headquartered in Stockholm, Sweden and is listed on the NASDAQ OMX
Stockholm Exchange (TRMO). Since 2000 the company has installed more than
50,000 systems for over 650 fixed and mobile network operators, service
providers, large enterprises and public institutions in over 50 countries across
the globe.
For additional information about Transmode, please visit www.transmode.com.
Press release (PDF):
http://hugin.info/134733/R/1947358/707087.pdf
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: Transmode via GlobeNewswire
[HUG#1947358]
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2015 - 11:13 Uhr
Sprache: Deutsch
News-ID 415646
Anzahl Zeichen: 3428
contact information:
Town:
Stockholm
Kategorie:
Business News
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"INFINERA INITIATES COMPULSORY ACQUISITION PROCEEDINGS AND TRANSMODE FILES FOR DE-LISTING"
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