BaltCap, the leading private equity fund manager in the Baltics, will launch a voluntary share purchase offer for HansaMatrix through its company Emsco starting on 2 March. The offer presents a unique opportunity for HansaMatrix shareholders to sell their shares at the attractive price of EUR 8.50 per share. The offer is valid for 30 days starting from 2 March till 31 March at 4pm.
BaltCap’s offer represents an opportunity for the company’s shareholders to earn a premium on their investment – the price per share is 22% higher than at the end of 2022 and 12% higher compared with the closing price on 16 February 2023, the last trading day prior to the announcement of the intention to launch the offer.
“We are excited to announce a voluntary share purchase offer for HansaMatrix. This is a great opportunity for shareholders to sell their shares at a premium price. BaltCap’s objective is to achieve a minimum of 75% stake in the company, which requires the active participation of all shareholders, including retail investors, in this offer. If this target is not met, HansaMatrix will continue with its current ownership structure. We recommend HansaMatrix investors use this opportunity now and invite interested parties to review the prospectus in order to make an informed decision. At BaltCap, we are committed to ensuring a smooth transaction that is in the interest of all stakeholders,” Juris Pārups, Investment Director at BaltCap.
In case of a successful bid, BaltCap will initiate the delisting of HansaMatrix from the regulated market in accordance with the procedures set out in the law. According to Article 14 of the Share Purchase Law, initiating the delisting of shares from the regulated market requires approval from at least 75% of the shareholders.
Investors who decide not to accept voluntary purchase offer, will become minority shareholders in a non-listed company. In practice, it may mean less liquidity and less opportunity to sell the shares in the future.
As the offer price is above the mandatory purchase offer price, no additional mandatory offer will be made post-transaction.
What should shareholders do?
Upon acceptance of the offer, HansaMatrix shareholders are required to contact their bank or investment brokerage firm where they have their securities account. It takes only a few simple steps to proceed. The offer is valid for 30 days from the publication of the prospectus on the Nasdaq Baltic website from 2 March until 31 March at 16.00. It’s important to note that the offer has a set timeframe, so shareholders who wish to participate should not delay taking action.
Please refer to:
Prospectus – the detailed terms and conditions of the offer: here
The Bank of Latvia has authorized the voluntary share purchase offer, and the Competition Council of Latvia has allowed BaltCap’s company Emsco to acquire HansaMatrix.
BaltCap is the largest and most experienced private equity investor in the Baltics covering buyouts, growth, venture, and infrastructure investments. Since 1995, BaltCap has invested in over 100 companies across a wide range of industry sectors and has raised aggregate capital of over €700 million. BaltCap has a team of 35 investment professionals working at its Tallinn, Riga, Vilnius, Warsaw, Helsinki and Stockholm offices.
Emsco Ltd is a company set up to implement the voluntary share purchase process of HansaMatrix.
Please note that full and detailed information on the rights and obligations of all interested parties in the voluntary takeover bid is provided in the Takeover Law and the respective takeover prospectus, as approved by the Bank of Latvia, and the foregoing in no way modifies the information contained in the takeover prospectus or terms or conditions of the offer.