Melker Schörling AB ("MSAB") and Ola Rollén have today sold 11,700,000 shares of series B in Hexagon AB ("Hexagon") to approximately 60 Swedish and international institutional investors.
MSAB has sold 9,959,000 shares, representing 2.8 % of the share capital and 2.0 % of the votes in Hexagon. After the sale, MSAB owns 15,750,000 series A shares and 78,711,582 series B shares, together representing 26.8 % of the share capital and 47.8 % of the votes in Hexagon. After the sale, Hexagon accounts for approximately 59 % of the value of MSAB's share portfolio.
Ola Rollén has sold 1,741,000 shares, representing 0.5 % of the share capital and 0.4 % of the votes in Hexagon. After the sale, Ola Rollén owns 2,000,001 series B shares, representing 0.6 % of the share capital and 0.4 % of the votes in Hexagon.
Following the placing, the free float in Hexagon has increased from 69.3 % to 72.6 % which will support the increased interest in the Hexagon share following the announcement by NASDAQ OMX on May 9, 2011 of its inclusion for the first time in the OMX Stockholm Benchmark Index with effect from June 1, 2011.
MSAB comments:
"MSAB's strategy is to over time have a low gearing. It is a considerable strength to be able to support our portfolio companies financially at all times, during major acquisitions as well as market downturns. A low gearing also means that we can take advantage of new opportunities that may arise outside of our current investments. We now carry out a marginal adjustment of our holding in Hexagon which is in line with our strategy."
Ola Rollén comments:
"I have held my shares in Hexagon for more than 11 years. During this period I have experienced a significant increase in the market value of the shares, but I also almost lost everything during 2008/2009 despite Hexagon being in good shape. My investment in Hexagon has been financed through loans and it was a stressful experience to realize that more than 100 % of my initial investment might have been lost regardless of entry price. After this experience I decided, when the time was right and Hexagon's prospects were good, to repay my loans. This was further motivated since I recently increased my leverage through subscribing to my pro rata share of the recent rights offering. I am keeping a significant holding in Hexagon after this transaction currently valued at approximately SEK 300 m. My expectations are that my remaining holding in Hexagon will be as financially advantageous in the coming years as it has been up till now. Hexagon has been and will continue to be my main focus."
Stockholm, May 25, 2011
Melker Schörling AB (publ)
For further information, please contact CEO Ulrik Svensson: +46 8 407 36 60
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and thereby persons in such jurisdictions into which this announcement is released, published or distributed, should inform themselves about, and observe such restrictions.
This announcement is not an offer of securities for sale into the United States. The offer and sale of the securities referred to in this announcement has not been, nor will it be, registered under the United States Securities Act of 1933 and the securities may not be offered or sold in the United States absent such registration or an application exemption from registration. There will be no public offering of the securities in the United States in connection with this transaction.
This announcement is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities.
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