As announced on February 1, 2018, Asahi Kasei Microdevices Corp. (AKM) concluded a share acquisition agreement with the current major shareholders of Senseair, including its founder. In accordance with this agreement, AKM issued an offer on February 1, 2018, to acquire all remaining Senseair shares from the other shareholders of Senseair at the same price as agreed with the major shareholders.
The acceptance period for AKM’s offer expired on February 28, 2018. As of February 28, 2018, the number of shares held by the shareholders that agreed to accept AKM’s offer combined with the number of shares held by Asahi Kasei Corp. amounted to 99.50% of Senseair’s issued shares. AKM will therefore, when all conditions in the said agreement have been fulfilled, proceed with the contemplated acquisition and in the beginning of April 2018 acquire all the shares from the shareholders who accepted AKM’s offer.
The preliminary date for settlement and payment of the purchase price to the shareholders that accepted AKM’s offer is around April 4 – April 6, 2018.
Subsequently, AKM will implement a minority squeeze-out procedure, in accordance with Chapter 22 of the Swedish Companies Act (Sw. Aktiebolagslagen (2005:551)). This procedure will ultimately result in acquisition of all shares of Senseair.
The minority squeeze-out procedure may be a lengthy process during which the shares in Senseair will be illiquid. AKM has therefore decided to extend the acceptance period for AKM’s offer until March 14, 2018, to make it possible for all the shareholders who wish to accept AKM’s offer to sell their shares and receive payment in the beginning of April 2018.
Contact persons at Senseair:
Linda Hammaström Löfstrand, CFO Senseair
Peter Lagesson, CEO Senseair