Elektrobit Group Oyj - Preliminary result of Bittium Corporation's voluntary public tender offer for own shares and stock options 2008C
October 19, 2015
Preliminary result of Bittium Corporation's voluntary public tender offer for own shares and stock options 2008C
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Stock Exchange Release
Free for publication on October 19, 2015 at 1.45 p.m.
Preliminary result of Bittium Corporation's voluntary public tender offer for own shares and stock options 2008C
The offer period under the voluntary public tender offer (the "Offer") by Bittium Corporation ("Bittium" or the "Company") for own shares ("Share") and stock options 2008C ("Stock Option") expired on October 16, 2015 at 4 p.m. (Finnish time).
According to the preliminary result of the Offer, the Shares tendered in the Offer represent approximately 73.2 per cent of all the Shares and votes in the Company. In addition, according to the preliminary result of the Offer, approximately 62.0 per cent of all the Stock Options in the Company have been tendered in the Offer.
The Company is not aware of any circumstances that would have effect on the conditions for completing the Offer. The Company will complete the Offer in accordance with its terms and conditions, subject to the conditions for the completion of the Offer remaining fulfilled when the Company publishes the final result of the Offer.
As all the Shares and Stock Options transferred in the Offer will become null and void as part of the settlement of the completion trades of the Offer in a way that they will not come to the Company's possession, there will be no own Shares in the Company's possession after the completion of the Offer. Altogether 40,000 Company's Stock Options have not yet been allocated to the key persons of the Company in accordance with the terms and conditions of the Stock Options.
The Company will confirm and announce the final result of the Offer on or about October 21, 2015.
For the sake of clarity it is noted that the Company will not extend the offer period. Information about the possible subsequent offer period defined in the terms and conditions of the Offer will be announced in connection with the announcement of the final result of the Offer.
In Oulu, October 19, 2015
Bittium Corporation
Further Information:
Veli-Pekka Paloranta
CFO
Bittium Corporation
Tel. +358 40 344 3507
Distribution:
NASDAQ Helsinki
Main media
Bittium
Bittium is specialized in developing reliable and secure communications and connectivity solutions using the latest technologies and deep knowledge on radio technology. Bittium provides innovative products and customized solutions based on its product platforms, and R&D services for customers in various industries. Bittium also offers high quality information security solutions for mobile devices and portable computers. In 2014, net sales of continuing operations of, was EUR 52.7 million and operating profit was EUR 0.8 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com .
Disclaimer
This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares (the "Shares") or stock options 2008C entitling to Shares (the "Stock Options") in Bittium Corporation anywhere in the world. The final terms and further provisions of the public tender offer (the "Offer") have been disclosed in the offer document approved by the Finnish Financial Supervisory Authority. Holders of the Shares and Stock Options are strongly recommended to read the offer document and all announcements in connection with the Offer as they contain or will contain important information.
The Offer is not being made directly or indirectly, in or into the United States or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction. The Offer is not being made by the use of the mails or any other means or instruments of interstate or foreign commerce (inter alia, transmission by fax, telephone or internet) in or into the United States, nor by the use of any facility of a national securities exchange in the United States. Accordingly, the sending or any other distribution of this announcement or any other accompanying document in or into the United States or any other jurisdiction, where to do so would constitute a violation of the laws of such jurisdiction, is prohibited.
