Altor initiates compulsory redemption and Transcom will be delisted
Stockholm, 27 March 2017
On 13 March 2017, Altor AB (“Altor”), announced that they will complete the public takeover offer to the shareholders of Transcom WorldWide AB (publ), (”Transcom” or the ”Company”). After completion of the offer, Altor holds more than 90 percent of the shares and votes in Transcom and has notified Transcom’s board of directors that Altor has resolved to call for compulsory redemption of the remaining shares in the Company.
In light of the above, Transcom’s board of directors no longer finds it motivated for the Company to remain listed and has therefore applied for delisting of the Company’s shares from Nasdaq Stockholm. Nasdaq Stockholm has approved the application and resolved that the last day of trading in the Transcom share will be Monday 10 April, 2017.
The change in ownership has triggered a change of control clause in the Company’s long-term incentive programs (LTIP 2014, 2015 and 2016), and Transcom’s board of directors has therefore, in accordance with the terms of the programs, resolved to replace the estimated number of shares to be vested by a cash payment to the participants amounting to approximately EUR 1.3 million in total.
The information was submitted for publication at 3:30 PM CET on March 27, 2017.
For further information, please contact:
Johan Eriksson, President and CEO
Telephone +46 70 776 80 22
Ulrik Englund, CFO
Telephone +46 70 286 85 92
Stefan Pettersson, Head of Group Communications
Telephone +46 70 776 80 88