Announcement • Apr 15
CQXA Holdings Pte. Ltd. to Seek Removal of Asetek A/S's Shares from Trading and Official Listing on Nasdaq Copenhagen
Reference is made to the company announcements dated November 25, 2025, December 19, 2025, December 30, 2025, January 12, 2026, January 15, 2026, January 23, 2026, January 26, 2026, February 13, 2026, March 3, 2026, March 19, 2026, March 23, 2026 and April 9, 2026 regarding the recommended voluntary public takeover offer (the "Offer") to the shareholders of Asetek A/S ("Asetek" or the "Company") by CQXA Holdings Pte. Ltd. (the "Offeror"), a wholly owned and controlled subsidiary of Suzhou Chunqiu Electronic Technology Co., LTD. ("Chunqiu"). As set out in the offer document related to the Offer dated December 19, 2025 made public by the Offeror (the "Offer Document"), as amended by the supplements dated January 23, 2026, February 13, 2026, March 3, 2026 and March 19, 2026 (collectively, the "Supplements") regarding the Offeror's extensions of the offer period, the offer period began on December 19, 2025 and expired on April 8, 2026 at 23:59 (CET), in accordance with the terms of the Offer as set out in the Offer Document, as amended by the Supplements. The Offeror has announced the final result of the Offer pursuant to section 21(3) of the Danish Executive Order no. 614 of June 2, 2025 on Takeover Offers. According to the Offeror's announcement, the final result confirms that the Offeror has received valid acceptances under the Offer in respect of 303,298,827 shares, representing approximately 95.3% of the Company's entire share capital and attaching voting rights, excluding any treasury shares, as applicable. As a result, upon completion of the Offer, the Offeror will hold 303,298,827 shares in the Company, representing approximately 95.3% of the Company's entire share capital and voting rights, excluding any treasury shares, as applicable. The Offeror has further announced that on the basis of the final result and with the required regulatory clearances having been obtained, the Offeror considers that all conditions to completion of the Offer as set out in the Offer Document have been satisfied, and that the Offer is concluded and will be completed on the terms set out in the Offer Document. The Offer will be settled in accordance with the terms and conditions of the Offer Document by payment of the cash consideration to each shareholder who has validly accepted the Offer by credit to the cash account linked to such shareholder's book-entry account. Completion and settlement of the Offer is expected to occur on April 21, 2026. If a shareholder's cash account is held with a different financial institution than the account-holding institution for the relevant book-entry account, the cash consideration will ordinarily be credited approximately two (2) business days later, subject to applicable interbank settlement cycles, i.e. April 23, 2026. Receipt of cash consideration by shareholders who do not hold a Danish bank account may be subject to additional processing time. Based on the final result, the Offeror will hold more than 90% of the shares and the attaching voting rights in Asetek, excluding treasury shares, as a result of the Offer. As set out in the Offer Document, the Offeror will, as soon as practicable after completion of the Offer, initiate and complete a compulsory acquisition of the Asetek shares held by the remaining minority shareholders of Asetek, in accordance with the Danish Companies Act and the VP rule book. In addition, the Offeror will seek to have the Company's shares removed from trading and official listing on Nasdaq Copenhagen A/S. Information about the removal from trading and official listing of the Asetek shares will be announced separately.
