Shareholders of Hamworthy voted in favour of ac...
Wärtsilä Corporation, Company Announcement, 9 January 2012, at 4.50 pm (EET)
Wärtsilä is pleased to announce that, at both the Court Meeting and General
Meeting of Hamworthy plc held earlier today in relation to Wärtsilä's
recommended acquisition of Hamworthy by way of Scheme of Arrangement, all the
resolutions proposed received the strong support of Scheme Shareholders.
At the Court Meeting, a majority in number of Scheme Shareholders who voted
(either in person or by proxy) and who together represented over 75% by value of
the votes cast, voted in favour of the resolution to approve the Scheme. The
resolution was accordingly passed. At the General Meeting, the special
resolution to approve certain matters necessary to implement the Scheme were
also passed by the requisite 75% majority.
The proposed acquisition has received clearance from German and Norwegian
antitrust authorities and the relevant condition in the offer announcement has
therefore been satisfied. Completion of the Acquisition remains subject to the
satisfaction or waiver of the other Conditions, including the Court sanctioning
the Scheme and confirming the associated Reduction of Capital at Court hearings
which are expected to take place on 26 January and 30 January 2012 respectively.
Subject to the Scheme and the associated Reduction of Capital receiving the
sanction and confirmation of the Court on those dates, the Scheme is expected to
become effective on 31 January 2012.
Björn Rosengren, CEO, Wärtsilä Corporation, commenting on the results of the
vote, said:
"We are delighted that the shareholders of Hamworthy have voted in favour of the
Scheme. We believe strongly that by combining our resources with Hamworthy, we
will be able to broaden and enhance our capabilities in rapidly evolving
offshore, marine gas application, and environmental solutions markets. We
welcome the management and employees of Hamworthy to Wärtsilä and look forward
to combining our expertise and experience for the benefit of our customers
around the globe."
More information about the recommended acquisition of Hamworthy.
For further information, please contact:
Jaakko Eskola
Group Vice President, Ship Power
Wärtsilä Corporation
Tel: +358 10 709 5599
jaakko.eskola@wartsila.com
Atte Palomäki
Group Vice President, Communications & Branding
Wärtsilä Corporation
Tel: +358 10 709 5599
atte.palomaki@wartsila.com
For investor information, please contact:
Pauliina Tennilä
Director, Investor Relations
Wärtsilä Corporation
Tel: +358 10 709 5498
pauliina.tennila@wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximises the environmental and economic performance of the
vessels and power plants of its customers. In 2010, Wärtsilä's net sales
totalled EUR 4.6 billion with more than 17,500 employees. The company has
operations in 160 locations in 70 countries around the world. Wärtsilä is listed
on the NASDAQ OMX Helsinki, Finland.www.wartsila.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wärtsilä Oyj Abp via Thomson Reuters ONE
[HUG#1576010]
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