NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN
The Tender Offer was made as part of the Company's objective to exercise active management of and to optimize its balance sheet, reduce short term debt and reduce any potential dilution.
The Tender Offer was made on the terms and subject to the conditions set out in a tender information document dated
Description of the Convertible Bonds | ISIN | Accepted tender amount | Purchase price |
NO0010968563 | 106.0% |
The Convertible Bonds repurchased will be cancelled. Following the completion of the Tender Offer, the nominal amount of Scandic's outstanding Convertible Bonds will be
To ensure that the purchase price was established on market terms, the Tender Offer was carried out through a modified Dutch auction, and it is the Board of Directors' assessment that the purchase price reflects prevailing demand and market conditions.
Settlement of the Tender Offer is expected to occur on or around
Nordea: +45 6136 0379, nordealiabilitymanagement@nordea.com
This information is information that
For more information, please contact:
Email: rasmus.blomqvist@scandichotels.com
Phone: +46 702 335 367
IMPORTANT INFORMATION
This press release contains important information which should be read carefully before any decision is made with respect to the Tender Offer. If any holder is in any doubt as to the action it should take or is unsure of the impact of the Tender Offer, it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. Any holder whose Convertible Bonds are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender such Convertible Bonds pursuant to the Tender Offer. Neither the Company nor the Dealer Managers nor their respective directors, employees or affiliates makes any recommendation as to whether holders of Convertible Bonds should tender Convertible Bonds for purchase pursuant to the Tender Offer.
Offer and Distribution Restrictions
This press release does not constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required by each of the Company and the Dealer Managers to inform themselves about and to observe any such restrictions.
The Tender Offer is not being made and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of,
The Tender Offer is not an offer of securities for sale in
Each holder of Convertible Bonds participating in the Tender Offer will represent that it is not a
This press release and any other documents or materials relating to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the
General
Neither this press release nor the electronic transmission thereof constitutes an offer to buy or the solicitation of an offer to sell Convertible Bonds (and tenders of Convertible Bonds for purchase pursuant to the Tender Offer will not be accepted from holders) in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed broker or dealer and the Dealer Managers or any of their affiliates are such a licensed broker or dealer in any such jurisdiction, the Tender Offer shall be deemed to be made by such affiliate, as the case may be, in such jurisdiction.
Further, the Tender Offer does not constitute or form part of (i) a prospectus within the meaning of Regulation (EU) No 2017/1129 of the
The Company reserves the right, in its sole and absolute discretion, to investigate, in relation to any tender of Convertible Bonds for purchase pursuant to the Tender Offer, whether any such representation given by a holder is correct and, if such investigation is undertaken and as a result the Company determines (for any reason) that such representation is not correct, such tender or submission may be rejected.
About
Scandic is the largest hotel company in the Nordic countries with a network of about 280 hotels with 58,000 rooms in operation and under development, in more than 130 destinations. The company is the leader when it comes to integrating sustainability in all operations and its award-winning Design for All concept ensures that Scandic hotels are accessible to everyone. Well loved by guests and employees, the Scandic Friends loyalty program is the largest in the Nordic hotel industry and the company is one of the most attractive employers in the region. Scandic is listed on Nasdaq Stockholm. www.scandichotelsgroup.com
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