HELSINKI--(BUSINESS WIRE)--Regulatory News:
The actual acceptance period in the tender offer (the “Offer”) by Geberit AG (“Geberit”) concerning all outstanding shares in Sanitec Corporation (“Sanitec”) (STO: SNTC) ended on 2 February 2015 at 5 p.m. (CET). Geberit notified Sanitec and the Finnish Financial Supervisory Authority on 3 February 2015 that based on the shareholders' acceptances of the Offer received by the said time (including the shares represented by the irrevocable undertakings given by Sofia IV S.à r.l. and Zeres Public Market Fund to accept the Offer), the direct ownership of Geberit Investment Oy (a wholly owned indirect subsidiary of Geberit) and the indirect ownership of Geberit would exceed 90 per cent of all the shares and voting rights in Sanitec when the settlement of the completion trades of the Offer is completed and the title to the tendered shares is transferred to Geberit Investment Oy.
Sanitec has today received from Geberit a new notification pursuant to chapter 9, section 5 of the Finnish Securities Markets Act. According to the notification, the execution of the completion trades of the Offer has been initiated today, and the settlement will take place on or around 10 February 2015. According to the notification, the direct ownership of Geberit Investment Oy and the indirect ownership of Geberit upon the completion of the settlement and the transferring of title to the tendered shares is 99,080,684 shares, corresponding to approximately 99.08% of all shares and votes in Sanitec (including the 139,198 treasury shares held by Sanitec).
Sanitec has currently 100,000,000 registered shares, each share entitling to one vote at the general meeting of shareholders.
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.
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