As announced in company announcement no. 23/2023,
Today, Brødrene Hartmann A/S' majority shareholder, Thornico Food & Food Technology A/S (ultimately controlled by
The offer is valid for a period of four weeks from today and until and including
The complete terms and conditions for the offer, including procedures for how to accept the offer and information regarding settlement, are set out in an offer document. The offer document is available for download in English and Danish language via Hartmann's website https://www.hartmann-packaging.com/world/investor/thornico-offer/ subject to certain restrictions.
Shareholders who wish to accept the offer must communicate their acceptance of the offer to their own account holding institution in accordance with the procedure described in the offer document and in due time to allow this institution to process and communicate such acceptance to
Any questions related to acceptance and settlement of the offer shall be directed to the shareholder's own account holding institution.
Expected timeline of the offer
Event | Date |
Publication of the offer document to the company's shareholders | |
Start of the offer period | |
Expected last day of trading of the shares on Nasdaq Copenhagen
| |
Expected last day of the offer period (
| |
Expected last day for settlement of the offer
|
Brødrene Hartmann A/S' shares will expectedly be delisted from trading and official listing on
After completion of the delisting procedure, Thornico Food & Food Technology A/S will propose to amend Brødrene Hartmann A/S' articles of association with a view to ensuring that, going forward, the articles of association will reflect the fact that Brødrene Hartmann A/S shares are no longer admitted to trading on a regulated market.
If Thornico Food & Food Technology A/S acquires a shareholding exceeding 90% in Brødrene Hartmann A/S and a corresponding share of the voting rights after the expiry of the offer period, Thornico Food & Food Technology A/S expects, and reserves the right, to initiate and carry out a compulsory redemption procedure for the shares that have not been acquired via the offer in accordance with the rules of sections 70-72 of the Danish Companies Act. Such procedure is expected to be subject to terms corresponding to the offer.
Any remaining shareholders who have not sold their shares during the offer period or accepted the offer should thus be aware of the consequences the delisting will have for their shares, which are as follows:
- The opportunity for trading Hartmann's shares will be significantly reduced since the shares will no longer be listed on any trading venue. The company will not establish agreements with another trading venue for shareholders' sales or purchases of shares in the company, and there will likely be limited options for selling or buying shares, except through agreements that may be made with other investors or shareholders outside of a trading platform.
- The company will no longer be subject to disclosure obligations and other rules applicable to issuers of publicly traded securities, and the company will communicate with its shareholders solely in accordance with the Danish Companies Act.
- The shares will cease to be publicly traded, which may have negative consequences for the shareholders' tax treatment of the shares, as well as implications for ownership through share savings accounts (in Danish: "aktiesparekonti") or pension funds.
Brødrene Hartmann A/S
Disclaimer
The offer is not made, directly or indirectly, to shareholders resident in any jurisdiction in which the submission of the offer or acceptance thereof would contravene the laws of such jurisdiction, and the offer document may not be distributed to shareholders resident in any such jurisdiction.
Contacts
Kamilla Hoffmann , Head of Legal, Brødrene Hartmann A/S, +45 27282856, kho@hartmann-packaging.com
About Brødrene Hartmann A/S
Hartmann is the world’s leading manufacturer of moulded-fibre egg packaging and a market-leading manufacturer of fruit packaging in
Attachments
- Publication of offer.pdf
© Ritzau Denmark, source