On Friday afternoon, Ice Group wrote in an announcement to the stock exchange that it had received a letter expressing its “willingness” to pay 1 kroner per share for the mobile company’s purchase.
The sender of the letter is Conrad Clauson CC Capital.
– We value Ice at five billion crowns at today’s share price, Clauson tells DN.
But the Ice Board will not process the bid, because the Board is about that To buy Liz to be discussed at the general meeting on Monday, March 21.
In the stock exchange announcement, Ice wrote that the letter should have been addressed to shareholders if the intention was to make an offer, and it also did not meet the requirements of the company’s formal offer.
Clauson stresses that ICE’s offer will give shareholders the opportunity to participate if they so desire.
He describes it as a three-part commandment.
– Those who wish to sell shares now receive an offer of 1 kroner per share, which is equivalent to 203 million kroner. Today’s shareholders who want to leave a smaller ownership stake of 4.6 percent in a recapitalized company worth NOK 4.7 billion, will have a total contribution value of NOK 350 million. Existing shareholders are given the opportunity to participate in up to 50 percent of the proposed recapitalization of the company. In all, the company is valued at around five billion crowns, Clauson explains.
He himself took a hard line against the treatment to which minority shareholders were treated with the offer from Less.
Clawson was among the players who earlier this winter tried to buy Ice, but at the time they didn’t agree to his offer.
Clauson recently reported to DN that in a short time they received nearly 3 billion NOK in ice new capital.
On the other hand, Ice management believes that Clauson’s offer is not an attempt.
– An announcement was recently sent to the stock exchange, but the “offer” is not an offer in the sense of the Securities Law. The letter does not meet any of the essential requirements to be considered a tender in Norwegian Securities Trading, as described in our response letter. However, we have chosen to send a non-compulsory message about the message, says Ice Communications Director of Communications, Reynir Johannesson, in an email.
Billion dollar deal
On Friday, February 18th, Lyse energy group entered into an agreement with Ice About buying a mobile company. In connection with the deal, Ice was valued at NOK 5.6 billion, and this was stated in the exchange’s announcement when the sale became known.
Ice Group will be left with three billion kroner after the acquisition, but will have to spend most of the amount on resolving the dispute with the lender Goldentreeand settlement with other lenders.
Practically speaking, Lyse handles all operations and operating activities in Ice for approximately NOK 3 billion on a cash basis, of which NOK 2.9 billion goes to lenders, while just under NOK 100 million is allocated to shareholders.
– Lyse does not buy the group tip in Ice, the debt is at the group level. For Ice Group shareholders, there is limited value left after the transaction. Less than NOK 100 million, said Espen Resholm, the investor in charge of Ice Group.
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