17 August 2007 - This press release is not and must not, directly or indirectly, be distributed or made public in Canada. The Offer is not being made to persons in those jurisdictions where their participation requires further offer documents, filings or other measures in addition to those required by Swedish law, except under applicable exemption.

Part I – Summary

Borse Dubai announces an all cash offer of SEK 230 per share for OMX

Borse Dubai Limited (“Borse Dubai”) , through a wholly-owned Swedish subsidiary of Borse Dubai (“BD Stockholm”), announces a public all cash offer to the shareholders of OMX AB (publ) (“OMX”) to tender all shares in OMX at a price of SEK 230 in cash for each share (the “Offer”).

Key offer highlights
Borse Dubai is offering SEK 230 in cash for each share in OMX, valuing OMX at SEK 27.7 billion .
The combined group will:
• Accelerate expansion of OMX in fast-growing markets;
• Establish the OMX brand as the combined group’s global platform for international growth;
• Solidify OMX’s position as a world leading exchange technology provider;
• Maintain OMX’s existing Nordic market model;
• Provide members, issuers, institutional and retail investors with access to new opportunities in growth markets;
• Access one of the largest liquidity pools in the world.

The Board of Directors of Borse Dubai will have representation from the Nordic region.
The OMX Board of Directors will continue to have a strong representation from the Nordic region.

The Offer represents a premium of:
• 13.7% to SEK 202.3 per share, the value of Nasdaq’s offer for OMX ;
• 38.6% to SEK 165.9 per share, the volume weighted average price of OMX shares over the 20 trading days up to and including 23 May 2007, the last full trading day prior to the announcement of Nasdaq’s offer for OMX.

Borse Dubai has purchased ordinary shares of OMX at SEK 230 per share representing 4.9% of the share capital in OMX. In addition, a wholly owned subsidiary of Borse Dubai has entered into an option agreement to purchase another 23.5% of OMX ordinary shares at 230 SEK per share, the exercise of which is conditional on, inter alia, receiving all necessary regulatory approvals. Assuming full exercise of these options and together with the shares it has purchased, Borse Dubai will hold 28.4% of OMX ordinary shares.

Essa Kazim, Chairman of Borse Dubai, said, “This combination will establish OMX as the group’s global platform, building on OMX’s leading technology and strong brand to position it to become one of the fastest growing major exchange networks in the world. We are convinced that OMX and its staff, technology, derivatives capabilities and track record in building a successful network of exchanges will enable us together to realise our vision.”

Per Larsson, Chief Executive Officer of Borse Dubai, added, “OMX and Borse Dubai will make OMX one of the leading international exchange brands. By connecting our platforms and developing a network of exchanges in our target high growth markets, we will deliver access to greater liquidity and an increasing range of products and services. Such growth and opportunity will be to the great benefit of all stakeholders, including all staff, the members, issuers, institutional and retail investors who are clients. We are very excited about working to achieve this goal.”

OMX and Borse Dubai – combining for growth
- Overview
The combination of OMX and Borse Dubai will form the fifth largest exchange group and one of the fastest growing and most innovative major exchange groups in the world. This will be achieved by connecting OMX’s leading technology and brand with Borse Dubai’s infrastructure and access to liquidity in high growth markets. The new group’s position as a world leading, growth oriented organisation will establish itself as a partner of choice in the international capital markets.

- Direct access to one of the largest liquidity pools in the world
The two trading platforms of OMX and Borse Dubai will be connected by OMX technology in order to provide the most direct access to significant pools of liquidity, becoming gateways to the European market and the markets of Middle East and North Africa (“MENA”), Central and South Asia. Together, the two platforms will pursue a growth strategy, inviting other markets into the exchange network to facilitate accelerated growth and innovation, actively using OMX’s brand and capabilities to develop regional capital markets.

- Accelerate expansion of OMX in fast-growing markets
Borse Dubai’s offer for OMX represents a significant strategic investment, with new revenue streams expected to be generated from the MENA, Central and South Asian markets helping to fund further growth for OMX in the Nordic region and strengthening the potential for the Nordic marketplace to become an important hub for further growth opportunities in Europe.

- Establish the OMX brand as the group’s global platform for international growth
The combination of OMX and Borse Dubai will continue to focus on the ongoing development of efficient Nordic and Dubai exchanges, in addition to managing pan-European initiatives, the exchanges in the Baltic countries and growth market activities in Central and Eastern Europe, MENA, Central and South Asia. The combined group will leverage the OMX brand to create a global platform to facilitate an expansion of capital markets infrastructure, products and services as part of the international strategy.

- Solidify OMX’s position as a world leading exchange technology provider
OMX’s exchange technology will be exclusively used by Borse Dubai. Borse Dubai will seek to grow OMX’s end-to-end technology across Central and Eastern Europe, MENA, Central and South Asia, strengthen relationships with its global exchange technology customers and support the roll out of next generation technologies.

- Benefits for stakeholders
By combining OMX and Borse Dubai, we expect members of the exchanges and issuers to benefit from a supply of products and services which will allow them to diversify into new markets and industrial sectors, as well as into conventional and fast growing products. This will be achieved by connecting capital markets to provide issuers with direct access to a deeper pool of liquidity. Market data providers and vendors will also enjoy richer content that will drive the sale of market data on a global basis and create new index families.

- Dubai’s successful track record
Dubai has a successful track record in creating an internationally recognised and fully independent legal and regulatory infrastructure to support the growth and internationalisation of regional markets. Borse Dubai has access to strong financial resources to support further development of international capital markets. It is a streamlined and entrepreneurial organisation designed to generate growth through technological innovation and the expertise of its people. Furthermore, Borse Dubai will benefit from the 2015 Dubai Strategic Plan to support development and growth of broad regional financial markets regulated to the highest standards.
This summary should be read in conjunction with the text of the full announcement.

For further information, please contact:

Borse Dubai
+46 761 08 8014

Part II – Full Announcement
As part of its strategy to create one of the world’s fastest growing major exchanges, Borse Dubai, through BD Stockholm, a wholly-owned Swedish subsidiary, is making an all cash offer for all outstanding shares in OMX.

1. Background to and reasons for the Offer
The combination of OMX and Borse Dubai will create a new organisation which combines OMX’s expertise, global technology services platform and customer base, efficient Nordic exchange, derivatives capabilities and track record of successful cross-border exchange integration with Borse Dubai’s efficient Dubai exchange infrastructure, clear growth mandate, access to financial resources and the significant liquidity within its target high growth markets.
The combination of OMX and Borse Dubai will continue to focus on the ongoing development of efficient Nordic and Dubai exchanges, in addition to managing pan-European initiatives, the exchanges in the Baltic countries and growth market activities in Central and Eastern Europe, MENA, Central and South Asia. The combined group will leverage the OMX brand to create a global platform to facilitate an expansion of capital markets infrastructure, products and services as part of the international strategy.
The new entity combines two highly complementary businesses with no conflicting overlap of technology platforms. Borse Dubai will benefit from the 2015 Dubai Strategic Plan which has defined Financial Services and Capital Markets as a key focus area to support the development and growth of regional capital markets to the highest international standards. This is consistent with Dubai’s track record of building global leaders in selected industries, such as Emirates Airlines in the airline industry and Dubai Ports World in the port industry.
The structure of the offer is based on the many common values shared between the two organisations, such as free markets, independent legal and regulatory infrastructures, technological leadership, growth focus, entrepreneurship and cooperation to develop long term business relationships and value to all stakeholders.

Borse Dubai and BD Stockholm in brief
Borse Dubai Limited was incorporated on 7 August 2007 in the Dubai International Financial Centre (“DIFC”) and is registered with the DIFC Registrar of Companies with registered number 0447. Borse Dubai Limited is 60% owned by the Investment Corporation of Dubai, 20% by Dubai Group LLC (a member of the Dubai Holding Group) and 20% by DIFC Investments LLC. Borse Dubai’s sole business purpose is to act as a holding company for investments in stock exchanges, including the Dubai Financial Market and the Dubai International Financial Exchange. Where the context requires or permits, references in this document to Borse Dubai include its current and prospective subsidiaries other than OMX.
BD Stockholm is a wholly-owned Swedish subsidiary of Borse Dubai. BD Stockholm is a limited liability Swedish company with corporate registration number 556732-9940. The company was established on 22 May 2007 under the name Goldcup D 3097 AB and registered with the Swedish Companies Registration Office (Sw. Bolagsverket) on 2 July 2007. BD Stockholm has never conducted and at present does not conduct any business and its sole purpose is to make the Offer and take all actions to finance and complete the Offer and operate as a parent company of OMX.

The combination is expected to:
• Form the fifth largest and one of the fastest growing and most innovative major exchange groups in the world, independently regulated to the highest international standards;
• Access one of the largest liquidity pools in the world;
• Accelerate expansion of OMX in fast-growing markets;
• Establish the OMX brand as the combined group’s global platform for international growth;
• Solidify OMX’s position as a world leading exchange technology provider;
• Maintain OMX’s existing Nordic market model;
• Provide members, issuers, institutional and retail investors with access to new opportunities in growth markets.

2. Benefits to all Stakeholders
– Members of the combined entity will be supported by and have access to, a common operational and technology infrastructure and new opportunities in growth markets and will continue to be supported entirely by OMX technology.

– Issuers will have direct access to the significant liquidity pools in MENA, Central and South Asia, increased visibility across a wider geographic area, more products and services and a larger investor base.

– Technology customers will benefit from next generation technology systems powered by a larger customer base (including Borse Dubai). Not having conflicting technology platforms will ensure that customers benefit from the continuous support and commitment of the new group. Market data providers and vendors will benefit from richer content, value based products and wider distribution.

– Nordic capital markets will continue to benefit from OMX’s growth and a direct access to MENA, Central and South Asian liquidity pools. OMX will retain its unique Nordic identity and market model under Nordic regulation.

– OMX employees, who have proven operational expertise, will be fully engaged in executing an integrated growth strategy which will offer expanded long term employment opportunities. OMX’s management and staff will be key to the future success of the combined group.

3. Contributions from OMX
OMX’s contribution to the combination includes:
• OMX has a track record of facilitating successful cross border exchange integration through first hand experience;
• OMX is reported to be the fifth largest European equity exchange by number of transactions and the third largest equity derivatives exchange;
• OMX has created a world renowned technology customer base of equity, debt, commodities and derivatives exchanges, reporting more than 60 clients in over 50 countries worldwide, including Hong Kong, Singapore, Australia and the US.

4. Contributions from Borse Dubai
Borse Dubai’s contribution to the combination includes:
• Borse Dubai will provide a gateway to MENA, Central and South Asia and other emerging growth markets and access to one of the largest liquidity pools in the world;
• Borse Dubai will operate in an internationally recognised, independent legal and regulatory infrastructure established in Dubai;
• Borse Dubai will benefit from the 2015 Dubai Strategic Plan to support regional development and growth of regional financial markets regulated to the highest standards;
• Borse Dubai will have access to strong cash flow and strong financial resources to support the development of the group;
• Borse Dubai is an entrepreneurial organisation which supports growth and innovation and owns Dubai Financial Market, the sixth largest exchange in the world .

5. Key terms and conditions of the Offer

5.1. The Offer
Borse Dubai is offering SEK 230 in cash for each share in OMX. The offer price is subject to adjustment corresponding to the value of any dividends or other distributions made by OMX prior to settlement of the Offer .
The Offer will be made through BD Stockholm, a wholly-owned Swedish subsidiary of Borse Dubai.
No commission will be charged in connection with the Offer.

5.2. Offer value and premium
The Offer represents a premium of:
• 13.7% to SEK 202.3 per share, the value of Nasdaq’s offer for OMX ;
• 38.6% to SEK 165.9 per share, the volume weighted average price of OMX shares over the 20 trading days up to and including 23 May 2007, the last full trading day prior to the announcement of Nasdaq’s offer for OMX;
• 2.6% to the volume weighted average price of SEK 224.2 per OMX share over the 20 trading days up to and including 16 August 2007, the last full trading day prior to the announcement of the Offer.
The total value of the Offer amounts to SEK 27.7 billion .

6. Borse Dubai’s holdings of shares and options
Borse Dubai has directly or through a wholly-owned subsidiary acquired OMX ordinary shares representing 4.9% of OMX’s issued share capital. In addition, Borse Dubai (Cayman) Limited (“Borse Dubai Cayman”), a wholly owned subsidiary of Borse Dubai has entered into back-to-back option agreements with HSBC Bank plc which has entered into option agreements with counter parties on its behalf to acquire an additional 23.5% of OMX issued share capital. The option agreements with the counter parties each consist of a physically-settled call option (with a right of Borse Dubai Cayman to elect to cash settle), in respect of which Borse Dubai Cayman is the buyer and a cash-settled put option, in respect of which Borse Dubai Cayman is the seller. The call option may be exercised by Borse Dubai Cayman immediately following the later of (i) the receipt by Borse Dubai (or an affiliate of it) of all regulatory consents required in relation to the Offer and (ii) the first day of the settlement of the Offer, provided that if cash settlement is elected, the call option may be exercised at any time up to and including the first anniversary of the date on which the option agreement was entered into. The expiration date of the call option is the earliest of (i) two scheduled trading days of the OMX Nordic Exchange Stockholm after the call option has become exercisable, (ii) the date (if any) on which Borse Dubai (or its affiliate) announces publicly that it will not proceed with the Offer and (iii) the first anniversary of the date on which the option agreement was entered into. The cash-settled put option is exercisable by Borse Dubai Cayman’s option counterparty on the scheduled trading day of the OMX Nordic Exchange Stockholm immediately following the expiration of the call option. The strike price under the option agreements is equal to the greater of SEK 230 and the offer price at the end of the offer period, if any. No premium is payable under the option agreements.
In accordance with normal Swedish market practice, Borse Dubai and its affiliates and subsidiaries and any adviser, broker or other person acting as the agent of or on behalf of Borse Dubai reserve the right to make certain purchases of, or arrangements (whether involving option agreements or otherwise) to purchase, directly or indirectly, OMX ordinary shares or any securities that are immediately convertible into, exchangeable for, or exercisable for, OMX ordinary shares, other than pursuant to the Offer. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any such future purchases will be made in compliance with applicable laws, rules and regulations. Any information about such purchases will be disclosed to the extent required by law, or any applicable rules or regulations.

7. Conditions to the Offer
Completion of the Offer is conditional upon:
(i) that the Offer is accepted so that Borse Dubai becomes the owner of shares representing more than 90% of the outstanding shares of OMX;
(ii) that all necessary approvals from public authorities or other regulatory bodies, including competition authorities and financial supervisory authorities, in connection with the Offer, its implementation or the acquisition of OMX by Borse Dubai, have been obtained on terms reasonably acceptable to Borse Dubai, or applicable deadlines or waiting periods in relation thereto have expired or been terminated and there being no notice of any intention to revoke, suspend, restrict, impose any conditions in relation to, vary, amend or not renew any authorisations, certificates, licences, permissions or approvals of OMX or any of its subsidiaries;
(iii) that neither the Offer, its implementation nor the acquisition of all outstanding shares in OMX, has been rendered partially or wholly impossible or significantly impeded as a result of legislation, regulation, any decision of court, public authority or other regulatory body, or as a result of other comparable measures beyond Borse Dubai’s control;
(iv) that no material adverse change in OMX’s financial position or operations has occurred after the announcement of the Offer; which material adverse change materially adversely affects, or could reasonably be anticipated to have such an effect on OMX’s liquidity, sales, results or equity and which could not have been reasonably known or anticipated by Borse Dubai at the time of the announcement of the Offer;
(v) that no information made public by OMX or disclosed by OMX to Borse Dubai is materially inaccurate, incomplete or misleading and that OMX has not failed to make public any material information which should have been made public by it;
(vi) that no other party announces an offer, or Nasdaq raises its offer, to acquire shares in OMX on terms which are more favourable than the Offer to the shareholders in OMX; and
(vii) that OMX does not take any measures that typically are intended to impair the prerequisites for the implementation of the Offer.
Borse Dubai reserves the right to withdraw the Offer in the event that it is clear that any of the above conditions are not fulfilled or can not be fulfilled. However, with regard to conditions (ii)-(v) and (vii), such withdrawal will only be made provided that the non fulfilment of such condition is of material importance to Borse Dubai’s acquisition of the shares in OMX.
Borse Dubai reserves the right to waive, in whole or in part, one or more of the conditions above, including, with respect to condition (i) above, to complete the Offer at a lower level of acceptance.

8. Financing of the Offer
Assuming full acceptance of the Offer, the total cash consideration amount payable by Borse Dubai to OMX shareholders will be approximately SEK 27.7 billion for the entire share capital of OMX.
The Offer will not be subject to any conditions concerning the availability of financing.
Borse Dubai has funds available to finance the total cash consideration under the Offer pursuant to a facility agreement (the “Credit Agreement”) with HSBC Bank plc as mandated lead arranger, agent, security agent, security trustee and issuing bank and HSBC Bank plc and HSBC Bank Middle East Limited as original lenders.
The Credit Agreement provides for committed funds which will be used, among other things, to finance the consideration of the Offer, to refinance certain parts of existing indebtedness and to pay transaction expenses.
Drawdown under the Credit Agreement is subject to the conditions of the Offer being satisfied or waived (where such waiver requires consent from the mandated lead arranger or the majority lenders in certain circumstances) and Borse Dubai and its material subsidiaries not becoming insolvent or subject to insolvency proceedings. Besides the foregoing, drawdown is subject to a limited number of conditions which are customary for a financing of this kind. Such other conditions include the execution of collateral agreements by Borse Dubai or its owners and that certain representations, primarily with respect to the corporate status of Borse Dubai and the legality and effectiveness of the financing documents, are correct. They also include that Borse Dubai does not breach certain customary undertakings, relating primarily to Borse Dubai’s compliance with undertakings relating to the Offer and restrictions on granting security, disposals and incurring financial indebtedness by subsidiaries of Borse Dubai.

9. Governance and Management
Borse Dubai values the contributions to OMX which have been made by both its Board, management and employees.
The Board of Directors of Borse Dubai will have representation from the Nordic region.
The OMX Board of Directors will continue to have a strong representation from the Nordic region.
Borse Dubai further intends to leverage on the capabilities of OMX’s management team in the expansion plans for the new business.

10. Employees
Borse Dubai also intends to utilise OMX’s employee base in expanding the business and to fully safeguard the existing employment rights of management and employees of OMX.
Borse Dubai will offer participants of OMX's existing stock option plans and share matching plans fair treatment in respect of their entitlements under their respective plans. Unless a separate agreement is negotiated, Borse Dubai will include an appropriate offer to participants in the plans in the Offer.

11. Competition and Regulatory Issues
The combination of Borse Dubai and OMX will require appropriate consents and approvals from relevant competition and financial supervisory authorities.
The necessary clearances from competition authorities are expected to be received by November, provided that such clearances are obtained from the relevant competition authorities during the initial review period and that no relevant competition authority initiates an in-depth investigation. Borse Dubai is not aware of any reason why any such in-depth investigation should be initiated. The necessary approvals from the relevant financial supervisory authorities are expected to be received by the end of November.
Each market of the Borse Dubai and OMX combined group will continue to be regulated in accordance with local requirements.

12. Indicative timetable
The acceptance period for the Offer is expected to begin in early September, 2007 and run for at least 20 business days. An offer document regarding the Offer will be made public before the start of the acceptance period and will be distributed to the shareholders of OMX in connection therewith. Settlement is expected to begin about one week after the end of the acceptance period. Borse Dubai reserves the right to extend the acceptance period, as well as to postpone the settlement date.

13. Compulsory purchase and de-listing
As soon as possible following Borse Dubai’s acquisition of shares representing more than 90% of the shares in OMX, Borse Dubai intends to call for compulsory purchase of the then outstanding minority shares in OMX. In connection herewith, Borse Dubai intends to have the OMX shares de-listed from the OMX Nordic Exchange Stockholm.

14. Applicable law and disputes etc.
The Offer shall be governed by and construed in accordance with the laws of Sweden. Borse Dubai and BD Stockholm have in accordance with the Swedish Act on Public Takeover Offers (Sw. lagen (2006:451) om offentliga uppköpserbjudanden på aktiemarknaden), on 16 August 2007, undertaken to the OMX Nordic Exchange Stockholm and hereby undertakes to the shareholders of OMX, to comply with the OMX Nordic Exchange Stockholm’s rules regarding takeover offers (the “Takeover Rules”) and the Swedish Securities Council’s (Sw. Aktiemarknadsnämnden) rulings regarding interpretation and application of the Takeover Rules in relation to the Offer. Furthermore, Borse Dubai and BD Stockholm have in accordance with the Swedish Act on Public Takeover Offers contractually agreed with the OMX Nordic Exchange Stockholm to submit to any sanctions imposed by the OMX Nordic Exchange Stockholm upon breach of the Takeover Rules. Borse Dubai and BD Stockholm have on 17 August 2007 informed the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) about the above undertakings towards the OMX Nordic Exchange Stockholm.
The courts of Sweden shall have exclusive jurisdiction over any dispute arising out of or in connection with the Offer and the City Court of Stockholm shall be the court of first instance.

15. Advisers
Borse Dubai has retained HSBC Bank plc as financial adviser in connection with the Offer and Linklaters LLP as legal adviser in connection with the Offer.

For further information, please contact:

Borse Dubai
+46 761 08 8014

Notices

Forward-looking statements
This press release may contain forward-looking statements. These statements as they appear throughout this press release are not guarantees of future performance and are subject to inherent risks and uncertainties. Forward-looking statements may be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “intends,” “estimates,” “projects,” “targets,” “forecasts,” “seeks,” “could,” or the negative of such terms and other variations on such terms or comparable terminology. Forward-looking statements include, but are not limited to, statements about the expected future business of Borse Dubai and its subsidiaries and OMX resulting from and following the Offer. These statements reflect Borse Dubai management’s current expectations based upon information currently available to them and are subject to various assumptions, as well as risks and uncertainties that may be outside of their control, including but not limited to the effect of changes in general economic conditions, the level of interest rates, fluctuations in product demand, competition, technological change, employee relations, planning and property regulations, natural disasters and the potential need for increased capital expenditure (such as resulting from increased demand, new business opportunities and deployment of new technologies). Actual results could differ materially from those expressed or implied in such forward-looking statements. Any such forward-looking statements speak only as of the date on which they are made and Borse Dubai does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

Offer Restrictions
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law or regulation and therefore persons in such jurisdictions into which this announcement is released, published or distributed must inform themselves about and observe such restrictions.
The Offer is not being made and this press release may not be distributed, directly or indirectly, in or into, nor will any tender of shares be accepted from or on behalf of holders in, any jurisdiction in which the making of the Offer, the distribution of this press release or the acceptance of any tender of shares would contravene applicable laws or regulations or require further offer documents, filings or other actions in addition to those required under Swedish law, except under applicable exemption.
The Offer is not being made, directly or indirectly, by use of mail or any other means or instrumentality (including, without limitation, facsimile transmission, electronic mail, telex, telephone and the internet) in or into Canada and the Offer will not be capable of acceptance by any such use, means, instrumentality or facility of, or from within Canada unless an exemption from the applicable securities laws and regulations of any relevant provinces of Canada is available. Any persons receiving this press release should observe these restrictions and should not mail or otherwise distribute, forward or transmit it in, into or from Canada.

HSBC Bank plc is acting as exclusive financial adviser to Borse Dubai and no one else in connection with the matters described in this announcement and will not be responsible to anyone other than Borse Dubai for providing the protections afforded to clients of HSBC Bank plc or for providing advice in relation to the matters contained in this announcement.

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