TECHNOPOLIS PLC STOCK EXCHANGE RELEASE 11.9.2006 at 9.20 a.m.
TECHNOPOLIS REACHES AGREEMENT WITH CITY OF TAMPERE ON ACQUISITION
OF MAJORITY HOLDING IN TAMPERE SCIENCE PARKS LTD
Technopolis Plc, which specializes in high-technology operating
environments, has reached agreement with the City of Tampere on
the acquisition of a majority holding in Tampere Science Parks
Ltd. The negotiations concerned 95.83 % of Tampere Science Park
Ltd's shares. The parties have today signed a preliminary
agreement whose entry into force will require the approval of the
Tampere City Board.
According to the negotiated result, the acquisition price will be
95.83 % of EUR 21 million, i.e. approximately EUR 20.1 million,
based on Tampere Science Parks Ltd's net debt position as at
August 31, 2006. If the net debt position changes before closure
of the transaction, the acquisition price will be adjusted
correspondingly. Some 40 % of the acquisition price will be paid
to Technopolis Plc in new shares and the rest in cash.
Closure of the transaction as planned will require that the
Tampere City Board ratifies the preliminary agreement and that the
due diligence process executed and ordered by Technopolis reveals
no significant new information that would prevent the transaction
from taking place. The Tampere City Board will handle the matter
in its meeting to be held on September 11, 2006, in the afternoon.
Technopolis intends to commence negotiations with the other
shareholders of Tampere Science Parks Ltd once the preliminary
agreement with the City of Tampere has entered into force, with
the objective of attaining 100 % ownership.
Tampere Science Parks Ltd specializes in the production of
operating environments and office services for technology-oriented
businesses. Tampere Science Parks owns, leases and builds office
facilities and related user services for high-technology needs.
In terms of the number of clients, Technopolis Plc is one of
Europe's largest technology centers. It specializes in providing
operating environments for high tech companies and offers a
comprehensive service package combining modern premises and
business and development services. Technopolis operates in Oulu,
Vantaa, Espoo, Lappeenranta and Jyväskylä. It is preparing to
expand its operations to Russia and the Baltic countries. Some
10,800 people employed by nearly 800 companies are working in its
Oulu, September 11, 2006
President and CEO
For further information, please contact:
Pertti Huuskonen, tel. +358 400 680 816 or +358 8 551 3213
Helsinki Stock Exchange
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