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Knorr-Bremse welcomes decision of Swedish Securities Council to not admit Haldex’s application

Knorr-Bremse AG (“Knorr-Bremse“) welcomes the decision by the Swedish Securities Council (SSC) to not admit Haldex’s application by which the company wanted the SSC to not approve Knorr-Bremse’s application to extend the offer period for its public offer for Haldex AB (publ) (“Haldex“). Consequently, the SSC will not decide on the substance matter of Haldex’s … Continued

Knorr-Bremse AG (“Knorr-Bremse“) welcomes the decision by the Swedish Securities Council (SSC) to not admit Haldex’s application by which the company wanted the SSC to not approve Knorr-Bremse’s application to extend the offer period for its public offer for Haldex AB (publ) (“Haldex“). Consequently, the SSC will not decide on the substance matter of Haldex’s application. This means that the SSC will rule on Knorr-Bremse’s application for an extended offer period until 9 February 2018 after the shareholders have voted on this matter on the extraordinary general meeting (EGM) which will be held on August 17, 2017 and provided that Knorr-Bremse so requires.

Prior to its decision, the SSC has also given Knorr-Bremse the opportunity to share its perspective on Haldex’s application which aimed at a decision ahead of the EGM. In its submission, Knorr-Bremse has argued that the shareholders shall be given the opportunity to make their vote on the EGM. Knorr-Bremse furthermore argued that the Haldex Board of Directors has not been entitled to submit this application.

Following the EGM on 17 August 2017 Knorr-Bremse will immediately revert to the SSC and the market with information on whether its application for extension of the acceptance period shall be dealt with.

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