STOCKHOLM--(BUSINESS WIRE)--Cavotec is delighted its shareholders have with a great majority of 92.61% voted at the meeting to support the restructuring which will result in Cavotec shareholders exchanging their shares for shares in a Swiss company, Cavotec SA, with the shares in Cavotec SA to be listed on the NASDAQ OMX Stockholm Exchange.
The next steps in the Cavotec restructuring process are as follows:
(a) Cavotec SA will lodge its formal listing application to have its shares listed on the NASDAQ OMX Stockholm Exchange with the listing committee of that exchange. The listing committee is scheduled to meet on 16 September 2011 to consider this application.
(b) Assuming the listing committee grants its approval, Cavotec will then seek the final orders of the High Court authorising Cavotec to implement the restructuring.
(c) The last day for trading of Cavotec’s shares on the NZSX will be Monday, 26 September 2011, with trading being halted from market open on Tuesday, 27 September 2011.
(d) The record date for determining shareholders of Cavotec for the purposes of the restructuring will be 29 September 2011.
(e) The restructuring will be implemented on 3 October 2011 which will result in Cavotec’s shares being cancelled, and with Cavotec SA’s shares being issued to shareholders on a 1 for 1 basis. Immediately prior to the implementation of the restructuring, Cavotec’s shares will be formally delisted from the NZSX.
(f) Around 7 October 2011 shareholders will be sent details of their shareholding in Cavotec SA. (g) On 19 October 2011 Cavotec SA’s shares will commence trading on the NASDAQ OMX Stockholm.
If there are any changes to these dates, Cavotec will promptly make an announcement through the NZX announcement platform. Cavotec will also announce to the market when it receives the approval of the NASDAQ OMX Stockholm listing committee to Cavotec SA’s shares being listed on that exchange, and when the High Court has granted its final orders under the court-approved scheme of arrangement. If either of these two conditions are not met, the restructuring will not occur.
Cavotec is a leading global engineering group, developing innovative technologies that enable the maritime, airports, mining and tunnelling, and general industry sectors operate more sustainably. To find more about Cavotec, visit our website at www.cavotec.com
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