The Independent Committee of the Board of Directors of Radisson evaluates the revised mandatory public offer from the consortium led by Jin Jiang International Holdings Co., Ltd., including SINO-CEE Fund, through Aplite Holdings AB
This statement is made by the independent committee [1] (the " Independent Committee ") of the Board of Directors of Radisson Hospitality AB (publ) (the " Company " or " Radisson ").
On 11 December 2018, the consortium led by Jin Jiang International Holdings Co., Ltd., including SINO-CEE Fund, through the joint acquisition vehicle Aplite Holdings AB (the " Consortium "), announced a mandatory public offer to the shareholders of the Company to acquire the remaining outstanding shares in the Company for a consideration of SEK 40 in cash per share (the " Offer "). The Independent Committee recommended on 2 January 2019 the Company's shareholders not to accept the Offer.
The Independent Committee notes today's announcement by the Consortium that the offer price in the Offer has been increased by SEK 2.50 to a total of SEK 42.50 in cash per share. The acceptance period of the Offer will commence on 7 January and expire on 4 February 2019. The Independent Committee further notes the statements by the Consortium in relation to the Offer that the offer price will not be further increased and that the acceptance period will not be extended.
The Consortium has today also made public the offer document relating to the Offer. Please refer to the Consortium's website for further details of the revised Offer, offer document and acceptance form, www.radissonoffer.com .
The Independent Committee will, in accordance with Nasdaq Stockholm's Takeover Rules, evaluate the revised Offer and announce its opinion as soon as possible and no later than one week prior to the expiry of the acceptance period, that is no later than 28 January 2019.
Investor Relations Contacts: ANDREAS SCHMID, Member of the Board of Directors and chair of the Independent Committee andreas.schmid@radissonhotels.com
KNUT KLEIVEN, Deputy President & CFO knut.kleiven@radissonhotels.com
[1] The Independent Committee consists of all members of the Board of Directors that are not dependent in relation to a Consortium member, hence the Independent Committee consist of Andreas Schmid (chair), Lo Kin Ching, Wolfgang M. Neumann, Thomas Staehelin, Göran Larsson and Ulf Petersson. The Independent Committee has been formed to evaluate the Offer and to handle and resolve on all matters relating to the Offer. The members of the Board of Directors Ma Mingju, Chen Jin and Zhu Qian have, in their capacity as representatives of the Consortium, decided not to participate in the processing or decision-making of questions related to the Offer.
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