eng

Investment AB Kinnevik: Kinnevik and Vostok Nafta extend the Offer for Kontakt East

6/26/2008 8:00 AM

This press release may not be released, published or distributed in or into the USA, Canada, Australia, Japan or any other country in which such a measure is subject to registration or any other measures than those required by Swedish law. The Offer is not directed towards any person in those countries whose participation requires any additional prospectus, registration or other measure than those required by Swedish law.
 
This press release is a translation from the Swedish language press release. In the event of any discrepancies between the Swedish version and the English version, the Swedish version shall prevail.
 
Kinnevik and Vostok Nafta extend the Offer for Kontakt East
The acceptance period is extended to allow for the shareholders who have not yet accepted the Offer to tender their shares
 
Stockholm, 26 June 2008 - On 26 May 2008, Investment AB Kinnevik (publ) ("Kinnevik") and Vostok Nafta Investment Ltd. ("Vostok Nafta") (jointly, the "Bidders"), through their jointly owned Swedish company Vosvik AB, registration number 556757-1095 ("Vosvik"), announced an offer for all the shares in Kontakt East Holding AB (publ) ("Kontakt East") at a price of SEK 35 in cash for each share in Kontakt East (the "Offer").
 
The acceptance period for the Offer expired on 24 June 2008. In total 13,741,123 shares representing 97.6 percent of the total number of shares and votes in Kontakt East have been tendered in the Offer, of which 3,007,443 shares have been tendered by Kinnevik and 4,410,000 shares have been tendered by Vostok Nafta, representing 52.7 percent of the total number of shares. Vosvik has also acquired warrants representing a right to subscribe for 1,446,074 shares in Kontakt East. On 25 June 2008, Vosvik announced that more than 97 percent of the total number of shares and votes in Kontakt East had been tendered in the Offer, whereby the Offer was declared unconditional. Settlement is expected to commence on or about 3 July 2008.
 
In order to allow the shareholders in Kontakt East, who have not yet accepted the Offer, to tender their shares, Vosvik has decided to extend the acceptance period to 3pm (CET) on 7 July 2008. Settlement for the shares tendered in the extended acceptance period is expected to commence on or about 11 July 2008.
 
Vosvik will, within the near future, call for compulsory acquisition of the remaining shares in Kontakt East and in connection herewith take the appropriate steps to have the Kontakt East shares de-listed from First North.
 
Vosvik has decided to acquire additional shares in Kontakt East on the market.
 
For further information, please contact:
 
Mia Brunell Livfors, CEO and President Investment AB Kinnevik (publ)
Phone +46 (0)8 562 000 00, Fax +46 (0)8 20 37 74
 
Torun Litzén, Director of Investor Relations Investment AB Kinnevik (publ)
Phone +46 (0)8 562 000 83, Mobile +46 70 762 00 83, Fax +46 (0)8 20 37 74
Box 2094, SE-103 13 Stockholm, Sweden, visiting address: Skeppsbron 18
 
Investment AB Kinnevik (publ)'s objective is to increase shareholder value, primarily through net asset value growth. The company's operations include three comprehensive business areas; Major Listed Holdings which includes Millicom International Cellular, Tele2, Modern Times Group MTG, Metro International and Transcom WorldWide, Major Unlisted Holdings which includes the cartonboard and paper company Korsnäs, and New Ventures which is active in finding new investments in small and mid sized companies which has a significant growth potential. Kinnevik plays an active role on the Boards of its holdings.
 
Kinnevik is domiciled in Stockholm. The Kinnevik class A and class B shares are listed on OMX Nordic Exchange Stockholm, Large Cap segment, within the financial and real estate sector. The ticker codes are KINV A and KINV B.