AR Packaging group companies raise price in tender offer for BSC Drukarnia Opakowań to PLN 40.5 per share
A&R Carton and Colorpack, AR Packaging group companies, have decided to increase the offer price in the tender offer for BSC Drukarnia Opakowań to PLN 40.5. Investors can subscribe to sell their shares in the tender offer until 26 March 2020.
“When we announced the tender offer for BSC Drukarnia Opakowań shares in January, the company’s share price was close to its all-time high. In our assessment, selling shares in the tender offer back then was already an excellent opportunity for minority shareholders to take considerable profit on their investment. We believe that, given the current market conditions, an increase in the tender offer price from PLN 40.38 to PLN 40.50 will constitute an additional incentive for all minority investors to respond to the tender offer,” said Harald Schulz, CEO of AR Packaging Group.
AR Packaging, through A&R Carton, currently controls a 60.82% stake in BSC Drukarnia Opakowań. According to the relevant laws, A&R Carton was required to announce a tender offer for shares that would allow it to reach the 66% threshold in votes at the company’s general meeting. However, A&R Carton decided to announce a tender offer for all of the remaining shares, i.e. 3 842 136 shares, constituting 39.18% of share capital, thus presenting an opportunity for all of the minority shareholders to sell their shares in the tender offer.
If the 95% threshold in votes at the general meeting of BSC Drukarnia Opakowań is reached as a result of the tender offer, AR Packaging does not rule out a mandatory squeeze out of minority shareholders and de-listing the company. Alternatively, if 90% threshold in votes at the general meeting is reached the Offeror may conduct the delisting process without the mandatory squeeze out of minority shareholders.
Subscriptions to sell shares in the tender offer will be accepted until 26 March 2020 by Santander Biuro Maklerskie. The customers of mBank may also place subscriptions at a designated location of mBank Biuro Maklerskie.
AR Packaging and A&R Carton
A&R Carton is part of AR Packaging, which is one of Europe’s leading companies in the packaging sector with net sales of more than EUR 900 million, 5,500 employees and 28 factories in 13 countries. The head office is located in Lund, Sweden.
In Poland, the Group is present in Kraków, where one of its most modern facilities is located – AR Carton Kraków, and in Poznań, following the acquisition of a majority stake in BSC Drukarnia Opakowań.
For more information, please visit: www.ar-packaging.com
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AR Packaging Holding AB
Group Marketing Manager
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The tender offer to subscribe for the sale of shares of BSC Drukarnia Opakowań SA, announced by A&R Carton AB and Colorpack GmbH on the basis of the provisions of the Act of 29 July 2005 on public offering and conditions for introducing financial instruments to organised trading, and on public companies and in accordance with the Regulation of the Minister of Development and Finance of 14 September 2017 on the forms of tender offers to subscribe for the sale or exchange of shares in a public company, detailed procedures of the announcement thereof and the conditions for acquiring shares pursuant to such tender offers is based on a tender offer document prepared in Polish, constituting the only legally binding document containing information regarding the tender offer.
This document may not be distributed, published or otherwise distributed in whole or in part, directly or indirectly in any jurisdiction in which the tender offer would be unlawful.