Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or any other jurisdiction in which such action would contravene applicable law.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or any jurisdiction where such offer, solicitation or sale would be unlawful.
SEAS-NVE A.m.B.A (“SEAS-NVE”) announces that as of today’s date, the company has sold 9,532,014 shares in Ørsted A/S (”Ørsted”) corresponding to DKK 5,337,927,840 and 2.27 percent of the shares in Ørsted.
The background for the sale of shares is that on 18 September 2019, SEAS-NVE entered into an agreement with Ørsted to acquire Radius Elnet, Ørsted’s residential customer business and outdoor lighting business.
Simultaneously, SEAS-NVE announced that over the coming 12 months, the company would reduce its ownership interest in Ørsted. SEAS-NVE plans to remain a significant shareholder in Ørsted with an ownership interest of approximately 5 percent. The sale of shares today is thus a step in this direction.
CEO of SEAS-NVE, Jesper Hjulmand, has the following comment on the sale:
”Over the years, we have had a clear strategy for our ownership in Ørsted. We wish to be present in the entire value chain of the Danish electricity sector, from production to the sale of energy. At the same time, we have had a strategic goal of consolidating and developing the energy system in Eastern Denmark for the benefit of our customers, cooperative members and society in general.
Ørsted has had significant positive developments owing to its strategic green transition and today we realise part of Ørsted’s considerable value creation in order to partly finance the acquisition of Radius Elnet as well as Ørsted’s residential customer business and outdoor lighting business.
With the acquisition of Radius Elnet, a continued significant shareholding in Ørsted, as well as the other business areas of the group, such as the sale of energy, e-mobility and fibre-optic broadband, SEAS-NVE is in a strong position to take a leading position in the green transition in Denmark.
We regard ourselves as a long-term, significant shareholder and our continued ownership is evidence of our support for Ørsted’s strategic development. We believe in the green transition, both from the point of view of society and business.”
Following today’s sale, SEAS-NVE still holds 30,593,106 shares in Ørsted which corresponds to 7.28 percent of the shares in Ørsted. Before the sale, SEAS-NVE had an ownership interest in Ørsted of 9.54 percent.
This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase any security in the United States. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to make a public offering of the securities in the United States.
The securities may not and will not be offered or sold in Canada, Japan and Australia.
With respect to the member states of the European Economic Area subject to Regulation 2017/1129/EU (together with any applicable implementing measures, the “Prospectus Regulation”) (each a “Relevant Member State”), no action has been undertaken or will be undertaken to make an offer to the public of the securities referred to herein requiring the publication of a prospectus in any Relevant Member State. As a result, these securities may only be offered or sold in any Relevant Member State pursuant to an exemption under the Prospectus Regulation.
This announcement is only addressed to, and directed at, persons in Relevant Member States of the European Economic Area who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation (“Qualified Investors”).
In the United Kingdom, this announcement is directed only at Qualified Investors (i) who are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) persons falling within Article 49(2)(a)-(d) (“high net worth companies, unincorporated associations etc”) of the Order all such persons together being referred to as (“Relevant Persons”). Under no circumstances should persons who are not Relevant Persons rely or act upon the contents of this announcement. Any investment or investment activity to which this announcement relates in the United Kingdom is available only to, and will be engaged only with, Relevant Persons.
In Denmark, this press release is directed only at persons who are Qualified Investors.