25th Jun 2007 07:00
Result of Recommended Tender Offer for Shares of Codan A/S On 24 May 2007, Royal & Sun Alliance Insurance Group plc's subsidiary, RSAOverseas Holdings B.V. ("R&SA"), launched a voluntary conditional public tenderoffer (the "Tender Offer") for the acquisition of all the outstanding issuedshares and voting rights in Codan A/S. On 21 June 2007 at 20.00 CET the Tender Offer expired and at that time R&SAowned or had received valid acceptances for an aggregate of 41,894,201 Codanshares of nominal value DKK 20 each. R&SA now holds 97.4% of the issued Sharesand voting rights of Codan excluding the 2,212,825 (4.89%) treasury sharesalready held by Codan. R&SA considers all conditions of the Tender Offer to have been satisfied andconfirms that it will complete the Tender Offer. Settlement is expected to takeplace on 28 June 2007. R&SA intends to initiate a compulsory acquisition procedure to acquire theremaining shares, and has today requested an Extraordinary General Meeting ofCodan to seek shareholder approval for the delisting of Codan shares from theCopenhagen Stock Exchange. For further information: \* TAnalysts Press----------------------------------- -----------------------------------------Shona Cotterill Phil Wilson-Brown/Sarah Hilyer----------------------------------- -----------------------------------------+44 (0) 20 7111 7212 +44 (0) 20 7111 7047/7327----------------------------------- -----------------------------------------Andrew Wigg Simon Moyse (Finsbury)----------------------------------- -----------------------------------------+44 (0) 20 7111 7138 +44 (0) 20 7251 3801----------------------------------- -----------------------------------------\* T Copyright Business Wire 2007Related Shares:
RSA.L