TEXEL Energy Storage AB made an offer to acquire Swedish Stirling AB (publ) (OM:STRLNG) for SEK 17.3 million on March 19, 2023. The offer price will be paid in form of a cash consideration of SEK 0.0991 per share and one existing share in the offeror for each 10,000 tendered shares in Swedish Stirling. For blocks of less than 10,000 shares in Swedish Stirling as well as surplus shares in excess of whole blocks of 10,000 shares in Swedish Stirling, an additional SEK 0.0008 in cash per tendered share.

The target Board unanimously recommends the shareholders of Swedish Stirling not to accept the offer. The completion of the offer is conditional upon, among other things, TEXEL becoming the owner of more than 50% of the total number of shares in Swedish Stirling, due diligence review, the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions. The acceptance period of the offer is expected to commence on or around April 24, 2023 and expire on or around July 2, 2023.

Swedish Stirling has engaged Mannheimer Swartling as legal adviser in connection with the offer.