Takeover offer with respect to AS Tallinna Vesi’s shares

April 13, 2021 2:04 AM EDT

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On 13 April 2021, the majority shareholders of AS Tallinna Vesi – City of Tallinn and OÜ Utilitas hereinafter jointly referred to as the Offerors) – notified of the mandatory takeover offer for the acquisition of all A-shares in AS Tallinna Vesi, which are not owned by the Offerors, for a purchase price of 14.20 euros (fourteen euros and twenty eurocents) per share („Purchase Price“) on the terms and conditions set out in the takeover offer. At the moment of publishing this notice, the City of Tallinn holds 10,469,565 A-shares (i.e. approximately 52.35% of the A-shares) in AS Tallinna Vesi and OÜ Utilitas holds 3,530,435 A-shares (i.e. approximately 17.65% of the A-shares) in AS Tallinna Vesi.

The time allowed for the acceptance of an offer shall start on 13/04/2021 at 10:00 and shall end on 17/05/2021 at 15:00, Estonian time (Eastern European Summer Time) - („Acceptance Period“).

The shareholders willing to accept the takeover offer, shall forward their transaction order to their securities account administrator no later than 17/05/2021, by the time to be specified by their securities account administrator, so that it allows the securities account administrator to register the transaction orders in Nasdaq CSD SE, with the registrar of the Estonian Register of Securities, no later than 17/05/2021 at 15:00 Estonian time (Eastern European Summer Time). The payment of purchase price shall be in cash and the shares shall be transferred to the Offerors on 25/05/2021.

The specific conditions of the takeover offer are set out in the prospectus and notice of the takeover offer.

Laura Korjus
AS Tallinna Vesi
Head of Communications
(+372) 62 62 271

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