The board of directors of Hartmann has today received a request from the company’s majority shareholder, Thornico Holding A/S, to convene an extraordinary general meeting to propose delisting the company.
Thornico Holding A/S has stated its intention of proposing delisting Hartmann’s shares from trading and official listing on Nasdaq Copenhagen as the company has not actively utilised the capital market for many years, the liquidity of the shares tradable is limited and costs related to the listing are substantial.
Subject to adoption of the proposal at the extraordinary general meeting and Nasdaq Copenhagen's approval of delisting the shares, Thornico Holding A/S has stated its intention to offer purchasing all shares (except treasury shares held by Hartmann) at the price of DKK 300 per share with a nominal value of DKK 20.
A notice convening the extraordinary general meeting, including an elaboration on the proposal and its consequences, will be published within two weeks in accordance with Hartmann’s articles of association. The notice period for the extraordinary general meeting will be 3-5 weeks from publication of the notice.
Brødrene Hartmann A/S
The board of directors
Hartmann is the world’s leading manufacturer of moulded-fibre egg packaging and a market-leading manufacturer of fruit packaging in South America and India. The group is also the world’s largest manufacturer of technology for the production of moulded-fibre packaging. Founded in 1917, Hartmann’s market position builds on its strong technology know-how and extensive experience of sustainable moulded-fibre production dating back to 1936. Hartmann sells egg and fruit packaging to manufacturers, distributors and retail chains, which are increasingly demanding sustainable packaging solutions and specialised marketing expertise. Our versatile product portfolio is customised to accommodate customer and consumer needs in each individual market. Hartmann sells machinery and technology to manufacturers of moulded-fibre packaging in selected markets. Headquartered in Gentofte, Denmark, with a production platform consisting of 15 factories in Europe and Israel, North and South America, and India and Russia (discontinuing).