The main condition of the ongoing tender offer for 100 percent of the shares in
Alumetal has been fulfilled, as the existing shareholders have subscribed for
the sale of at least 50 percent of the shares. As of 16:30 (CET) on Thursday,
June 15, 2023, approximately 68 percent of the shares have already been
subscribed.
Hydro is offering PLN 82.00 per each Alumetal share to all shareholders who
subscribe for the sale of shares by 23:59 on June 15, 2023. This is with the
exception that approximately 32.7 percent of the shares owned by IPO30
UNIPESSOAL LDA will be acquired by Hydro at PLN 78.69 per share. As of June 16,
the offer price will be reduced to the initial level, i.e. PLN 78.69 per share.
Subscriptions for the sale of shares in the tender offer will be accepted until
June 30, 2023.
Hydro received unconditional approval from the European Commission for the
proposed acquisition of Alumetal in early May, so there are no outstanding
regulatory conditions to complete the transaction.
Tender offer timetable
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Start of acceptance of subscriptions May 26, 2023
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Tender offer price increase June 9, 2023
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Last day of acceptance of subscriptions at increased price June 15, 2023
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End of acceptance of subscriptions June 30, 2023
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Expected date of conclusion of share purchase transactions July 5, 2023
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Expected date of settlement of share purchase transactions July 7, 2023
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Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
This announcement is for informational purposes only and cannot be treated as an
offer or proposal to purchase shares, nor as a recommendation regarding
investment decisions in relation to the tender offer for the sale of shares in
Alumetal S.A., announced on May 25, 2023 by Hydro Aluminium AS (the "Tender
Offer") through Bank Pekao - Biuro Maklerskie Pekao and Pekao Investment Banking
S.A. as intermediary brokers. The Tender Offer document (as amended thereafter)
is the only legally binding source of information on the terms of the Tender
Offer and is the only legally binding document relating to the Tender Offer
process. At the same time, the Tender Offer should not be considered as a
recommendation or forecast from Hydro Aluminium AS, any Hydro group entity or
Bank Pekao S.A., Pekao Investment Banking S.A. and entities from Bank Pekao
S.A.'s capital group.