Kingspan Acquires Additional Shares in Nordic Waterproofing Holding

Kingspan Holdings (IRL) Limited (“Kingspan”) has today acquired 1,648,089 shares in Nordic Waterproofing Holding AB (publ) (“Nordic Waterproofing” or the “Company”) corresponding to approximately 6.8 per cent of the total number of shares and votes in Nordic Waterproofing (the “Acquisitions”). Kingspan was already before the Acquisitions Nordic Waterproofing’s largest shareholder with a holding of approximately 24 per cent of the shares and votes in the Company and will, following the Acquisitions, hold a total of  30.9 per cent of the shares and votes in the Company and has thereby crossed the mandatory bid threshold of 30 per cent of the votes in Nordic Waterproofing, as set out in Chapter 3, Section 1 of the Swedish Takeovers Act (2006:451) (the “Takeovers Act”).

The Acquisitions were made at a price of SEK 160 per share. The price represents a premium of approximately 13.8 per cent compared to the closing price of SEK 140.6 for the Nordic Waterproofing share on Nasdaq Stockholm today, 13 September 2023, and approximately 12.6 per cent compared to Nordic Waterproofing’s volume weighted average share price of SEK 142.1 on Nasdaq Stockholm during the last 90 trading days up to and including 13 September 2023.

Under the Takeovers Act, Kingspan must announce that the mandatory bid threshold of 30 per cent of the votes in Nordic Waterproofing has been crossed through the Acquisitions. This press release constitutes such an announcement. Kingspan is, as a result, under an obligation to launch a mandatory public offer for the remaining shares in Nordic Waterproofing within four weeks from the Acquisitions. In accordance therewith, Kingspan intends to, within such period, launch a mandatory public offer for the remaining shares in Nordic Waterproofing at the same price per share as in the Acquisitions, SEK 160 per share.

The shares in Nordic Waterproofing are listed on Nasdaq Stockholm, Mid Cap.

Source: Kingspan Group plc