|
* Not for distribution in the United States, Canada or Japan
These materials are not an offer for sale of securities. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. Any public offering of securities will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.
Offer price and results of the initial public offering of shares of Aktsiaselts Tallink Grupp
02.12.2005
The offer period in the initial public offering (“Offering”) of ordinary shares of aktsiaselts Tallink Grupp (“Tallink”) ended on December 1, 2005.
In the Offering, a total of 31,574,545 shares of Tallink (“Shares”) are being sold and issued to Estonian, Finnish and international institutional investors (“Institutional Offering”) and to the public in Estonia and Finland (“Retail Offering”) of which 26,500,000 Shares are new Shares to be issued by Tallink and 5,074,545 are Shares to be sold by certain existing shareholders of Tallink (the “Selling Shareholders”). The Selling Shareholders have granted the managers of the Offering an option to purchase up to an aggregate of 3,157,455 additional Shares solely to cover over-allotments.
The Supervisory Council of Tallink fixed the offer price at EEK 82.50 (EUR 5.2727) per Share (“Offer Price”).
The total demand in the Retail Offering was 15,307,074 Shares (of which approximately 97% was subscribed in Estonia and approximately 3% in Finland), which was approximately 3 times larger than the total amount of Shares allocated in the Retail Offering.
A total of 34,732,000 Shares (including 3,157,455 Shares pursuant to over-allotments) were allocated in the Offering of which 29,522,200 Shares (85%) were allocated in the Institutional Offering and 5,209,800 Shares (15%) were allocated in the Retail Offering. A total of 527,182 Shares were allocated to the employees and members of the supervisory council and management board of Tallink and its subsidiaries (the “Employees”).
In the Retail Offering the Shares were allocated as follows.
The guaranteed individual allocation in the Retail Offering was set at 284 Shares, corresponding to EEK 23,430 (approximately EUR 1,497.45) when multiplied by the Offer Price. A total of 3,770,099 Shares (i.e. approximately 72.4% of all Shares allocated in the Retail Offering) were allocated as a result of the guaranteed allocation.
Subscription undertakings up to and including 284 Shares were fully accepted.
Subscription undertakings up to and including 568 Shares were allocated 284 Shares plus 25 % of the amount exceeding 284 Shares.
Subscription undertakings exceeding 568 Shares were allocated 284 Shares plus 25 % of the amount between 285 and 568 Shares plus 5.75 % of the amount exceeding 568 Shares.
The Employees were granted a preferential allocation. All of their subscription undertakings were fully accepted.
The Shares allocated in the Retail Offering will be transferred to the securities accounts of investors in Estonia on or about December 8, 2005. The Shares allocated in the Retail Offering will be transferred to the book-entry accounts or custody accounts of investors in Finland on or about December 8, 2005.
Investors in Estonia may obtain information about the amount of Shares allocated to them as of December 8, 2005 after the completion of settlement by submitting an inquiry to the custodian operating his securities account in accordance with the terms and conditions established by the respective custodian. Nordea Bank Finland will on or about December 7, 2005 send confirmation notices to investors in Finland to whom Shares have been allocated.
Trading in the Shares is expected to commence on the Tallinn Stock Exchange on or about December 9, 2005. |