23.12.2014 21:18:00
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Sanitec Corporation: Notification in accordance with the Finnish Securities Markets Act chapter 9 § 5: A conditional increase in the holdings of Geberit AG
Regulatory News:
On 14 October 2014, Sanitec Corporation announced that Geberit AG has decided to launch a public tender offer concerning all outstanding shares in Sanitec Corporation. The acceptance period for the offer started on 17 November 2014. According to the release published by Geberit AG today, Geberit AG has extended the acceptance period until and including 2 February 2015. Sanitec Corporation has received from Geberit AG a notification pursuant to chapter 9, section 5 of the Finnish Securities Markets Act. According to the notification, should the tender offer be completed, the ownership of Geberit AG would increase on the basis of the acceptances received by 22 December 2014 (including the shares represented by irrevocable undertakings given by Sofia IV S.à r.l and Zeres Public Market Fund) to 96,377,585 shares, corresponding to 96.38% of all shares and votes in Sanitec Corporation (including the 190,000 treasury shares held by Sanitec Corporation). The completion of the tender offer is subject to the satisfaction or waiver by Geberit AG of certain conditions to completion, such as necessary merger control clearances, as specified in the tender offer document dated 17 November 2014.
Sanitec Corporation 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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