In accordance with Section 29 of the Danish Securities Trading Act, cf. the Danish Executive Order no. 668 of 25 June 2012 on major shareholders, the following is hereby announced:
Axcel Management A/S has informed PANDORA as follows:
Background:
The owners of Prometheus Invest ApS ("Prometheus") have today decided to make distributions from Prometheus by means of proportionally distributing Prometheus' holdings of approximately 40.4% of the share capital in PANDORA to the relevant owners of Prometheus (the "Distribution"), whereby these owners will no longer be indirect shareholders in PANDORA, but instead own their shares directly or through their own holding structures.
No sales of PANDORA shares have been made in the market and no change in the ultimate ownership of such shares will occur as a result of the Distribution.
The ownership of Prometheus was distributed as follows: approximately 64.15% of the shares in Prometheus were owned by a holding company, which in turn was indirectly owned by Axcel III K/S 1, Axcel III K/S 2 and Axcel III K/S 3 (jointly "Axcel"). Approximately 35.85% of the shares in Prometheus were owned by two holding companies (Pewic Holding 2 ApS and P Leadership 2 ApS), which in turn were owned by Per Enevoldsen, Winnie Dahl and Christian Enevoldsen (jointly the "Enevoldsen-Group") and a number of minority shareholders.
Axcel's and the Enevoldsen-Group's proportions of the shares in PANDORA are unchanged at approximately 25.9% and approximately 12.4%, respectively. The minority shareholders' proportion of the shares in PANDORA is also unchanged at approximately 2.1%. The Distribution will thus not result in any change in the ownership of PANDORA.
Axcel and the Enevoldsen-Group have agreed that they will continue to coordinate their sales of shares in PANDORA (as has been the case until now through Prometheus). This also means that Axcel and the Enevoldsen-Group will continue to participate proportionally in the on-going share buyback programme. Furthermore, it has been agreed that Axcel and the Enevoldsen-Group will only exercise the voting rights attached to their share holdings at PANDORA's meetings of shareholders provided they have a common position on the given subject. Consequently, to all intents and purposes the parties have the same position as they had while the PANDORA shares were owned through Prometheus.
Furthermore, it is announced that the Enevoldsen-Group intends to do further group re-organizations that may result in a change in the placement of the group's holdings of PANDORA shares, but this will not have an effect on the content above.
Axcel Management A/S announces the following:
Axcel III K/S 2 directly owns 15,742,572 shares of nominally DKK 1 (in total nominally DKK 15,742,572) in PANDORA A/S ("PANDORA"), corresponding to approximately 12.1% of the total share capital and 12.1% of the total voting rights.
Axcel III K/S 1 directly owns 10,955,435 shares of nominally DKK 1 (in total nominally DKK 10,955,435) in PANDORA, corresponding to approximately 8.4% of the total share capital and 8.4% of the total voting rights.
Axcel III K/S 3 directly owns 7,011,598 shares of nominally DKK 1 (in total nominally DKK 7,011,598) in PANDORA, corresponding to approximately 5.4% of the total share capital and 5.4% of the total voting rights.
Axcel Management A/S acts as a management company for Axcel III K/S 1 and Axcel III K/S 2 and by virtue hereof exercises the controlling interest on the latter two companies' PANDORA shares. Furtermore, it is stated that Axcel Management A/S excercises a controlling influence on Axcel III K/S 3's PANDORA shares. Axcel Management A/S thus exercises a controlling interest over 33,709,605 shares of nominally DKK 1 (in total nominally DKK 33,709,605) in PANDORA, corresponding to approximately 25.9% of the total share capital and 25.9% of the total voting rights.
Prometheus no longer owns shares in PANDORA.
ABOUT PANDORA PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 70 countries on six continents through approximately 10,300 points of sale, including approximately 950 Concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 6,900 people worldwide of whom 4,900 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2012, PANDORA’s total revenue was DKK 6.7 billion (approximately EUR 900 million). For more information, please visit www.pandoragroup.com.
CONTACT
For further queries, please contact:
| INVESTOR RELATIONS Morten Eismark VP Group Investor Relations Phone +45 3673 8213 Mobile +45 3045 6719 | MEDIA RELATIONS Jakob Risom Press Officer Phone +45 3673 0634 Mobile +45 6165 6540 |
Magnus Thorstholm Jensen Investor Relations Officer Phone +45 4323 1739 Mobile +45 3050 4402
