As announced in company announcement no. 24/2023, the Brødrene Hartmann A/S shares are expected to be delisted from trading and official listing on
In connection with the delisting, Hartmann’s majority shareholder, Thornico Food & Food Technology A/S (ultimately controlled by
For shareholders who have already accepted the offer from Thornico or have decided not to accept it, no further action is required.
Shareholders who have not yet decided whether to sell their shares to Thornico or to keep them, are encouraged to decide as soon as possible and in due time before
The complete terms and conditions of the offer, including procedure for how to accept the offer and information regarding settlement, are set out in the offer document, which can be found in English and Danish language at Hartmann's website https://www.hartmann-packaging.com/world/investor/thornico-offer/ subject to certain restrictions.
Shareholders who wish to accept the offer must communicate their acceptance of the offer to their bank or the institution holding the shares (such as
Any questions related to the offer, as well as acceptance and settlement of the offer shall be directed to the shareholder's own bank or institution holding the shares.
Potential consequences for shareholders who do not wish to sell their Hartmann shares
Any remaining shareholders who have not sold their shares during the offer period or accepted the offer should thus be aware of the consequences the delisting will have for their shares, which are as follows:
- After the expected delisting of the Hartmann share from
Nasdaq Copenhagen A/S on20 December 2023 , the opportunity for trading the shares will be significantly reduced since the shares will no longer be listed on any trading venue. Hartmann will not establish agreements with another trading venue for shareholders' sales or purchases of shares, and shareholders will only be able to sell or buy the shares through agreements that may be made with other investors or shareholders outside of a trading platform. - Hartmann will no longer be subject to disclosure obligations and other rules applicable to issuers of publicly traded securities, and the company will communicate with its shareholders solely in accordance with the Danish Companies Act.
- The shares will cease to be publicly traded, which may have negative consequences for the shareholders' tax treatment of the shares, as well as implications for ownership through share savings accounts (in Danish: "aktiesparekonti") or pension funds.
If Thornico obtains more than 90% ownership of the company, Thornico will be able to carry out a compulsory redemption of the remaining approx. 10% of minority shareholders. It should be noted that Thornico expects, and reserves the right, to initiate and carry out a compulsory redemption procedure for the shares that have not been acquired via the offer if such option should be made possible in accordance with the rules of sections 70-72 of the Companies Act.
Expected timeline of the offer
| Date, 2023 |
Publication of the offer document to the company's shareholders | 22 November |
Start of the offer period | 22 November |
Expected last day of trading of the shares on Nasdaq Copenhagen
| 20 December |
Expected last day of the offer period (
| 20 December |
Expected last day for settlement of the offer
| 28 December |
Any questions related to the offer as well as acceptance and settlement of the offer shall be directed to the shareholder's own bank or institution holding the shares.
Brødrene Hartmann A/S
Disclaimer
The offer is not made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the offer or acceptance thereof would contravene the laws of such jurisdiction, and the offer document on this website may not be distributed to shareholders resident in any such jurisdiction.
Contacts
Kamilla Hoffmann , Head of Legal, Brødrene Hartmann A/S, +45 27282856, kho@hartmann-packaging.com
About Brødrene Hartmann A/S
Hartmann is the world’s leading manufacturer of moulded-fibre egg packaging and a market-leading manufacturer of fruit packaging in
Attachments
- Investor news - reminder about offer.pdf
© Ritzau Denmark, source