Coronaria Oy made an offer to acquire the remaining 67.6% stake in Silmäasema Oyj (HLSE:SILMA) for €57.8 million on August 16, 2019. Coronaria will offer €6 per share. Pre-acquisition, Coronaria Oy holds 32.4% stake in Silmäasema Oyj representing 4.6 million shares. Coronaria plans to finance the Tender Offer by a combination of existing cash positions and unutilized committed credit facilities. Completion of the Tender Offer does not require approval from the competition authorities. The offer period will be for three weeks and the commencement date being September 16, 2019. The offer period under the Tender Offer is expected to commence on or about September 5, 2019 and to expire on or about September 26, 2019, subject to any extension of the offer period by the Coronaria in accordance with the terms and conditions of the Tender Offer. Coronaria will not increase the Offer Price of the Tender Offer during the offer period. As of September 11, 2019, the Board of Directors of Silmäasema have unanimously decided to not recommend that Silmäasema’s shareholders approve the Tender Offer. As of September 12, 2019, shareholders representing a total of approximately 6.3% of Silmaasema shares have accepted or have entered into an irrevocable commitment to accept the Tender Offer in accordance with its terms and conditions after commencement of the Tender Offer under certain normal conditions. As on September 19, 2019, The Finnish Financial Supervisory Authority approved the supplement document. As of September 27, 2019, Coronaria is pleased to announce that the shares tendered in the Tender Offer represent approximately 41.5% of all the shares and votes in Silmäasema. Together with shares already held by Coronaria, this represents in the aggregate approximately 81.9% of all shares in Silmäasema. Coronaria will confirm and announce the final results of the Tender Offer on or about October 1, 2019. In connection with the announcement of the final results, Coronaria intends to commence a subsequent offer period in accordance with the terms and conditions of the Tender Offer on a date to be announced in the final result announcement. As of September 30, 2019, The completion trades will be settled and the offer consideration will be paid to the shareholders who have validly accepted the tender offer on or about October 2, 2019. In order to allow the remaining shareholders the possibility to accept the tender offer, the Coronaria has decided to commence a subsequent offer period in accordance with the terms and conditions of the tender offer. The subsequent offer period will commence on October 2, 2019 and expire on October 17, 2019. As of October 4, 2019, Intera Partners II has announced that it has sold its remaining holding in Silmäasema and thereby fully exited the Silmäasema. As of October 18, 2019, the offer period has been extended by three weeks to end on November 7, 2019. As on November 1, 2019, Coronaria announced the preliminary results of the subsequent offering. Approximately 4.5% of all the issued and outstanding shares and votes in Silmäasema had tendered under the subsequent offering period as of October 31, 2019. As a result, Coronaria’s holding in Silmäasema reached approximately 89.3%. As of November 7, 2019, The Offeror has decided to extend the Subsequent Offer Period of the Tender Offer by two weeks to end on November 21, 2019. Coronaria intends to launch a mandatory redemption of the remaining shares of Silmäasema once it crosses the threshold of 90% as per the Finnish law. As of November 19, 2019, Coronaria Oy has exceeded the 90% threshold and and will initiate the compulsory redemption proceedings for the remaining shares. As per the preliminary announced on November 22, 2019, Coronaria received valid acceptance from approximately 91.38% shareholders. Carnegie Investment Bank AB, Finland Branch acted as financial advisor and Roschier, Attorneys Ltd. acted as legal advisor to Coronaria in the transaction. Nordea Bank Abp acted as financial advisor and fairness opinion provider to Silmäasema. HPP Attorneys Ltd acted as legal advisor to Silmäasema in the transaction. Coronaria Oy completed the acquisition of remaining 67.6% stake in Silmäasema Oyj (HLSE:SILMA) on November 21, 2019. Coronaria received valid acceptance from approximately 91.4% shareholders of Silmäasema and will acquire the remaining shares via compulsory acquisition. The shares tendered during subsequent offer period will be settled on or about November 27, 2019. Silmäasema will be de-listed from Nasdaq Helsinki Ltd.