In a press release dated 28 September 2016 NIBE Industrier AB announced an agreement to acquire the majority of British Enertech Group, which includes six operations in six European countries. It further indicated that the transaction requires the approval of anti-trust authorities in Sweden and Germany and that the decision could be expected during the fourth quarter.
NIBE Industrier AB has acquired 65% of the shares in Canadian company FPI Fireplace Products International Ltd. (FPI) headquartered in Vancouver. The remaining 35% of the shares are covered by options and can be acquired in different instalments until 2022.
At NIBE Industrier AB’s (publ) Extraordinary General Meeting in Markaryd, Sweden, on 3 October 2016, it was resolved to approve the Board’s decision from 30 August 2016 to implement a new share issue with preferential rights for NIBE Industrier AB’s shareholders.
The Annual General Meeting of shareholders in NIBE Industrier AB on 12 May 2016 approved the proposal for a 4:1 split of NIBE Industrier’s shares, from SEK 0.625 per share to a new nominal value of SEK 0.15625 per share.
NIBE Industrier AB has utilised its call option to acquire the remaining 40% of the shares in Stovax Heating Group Ltd. in the UK. NIBE acquired the first 60% of the shares in the company in January 2013.
In accordance with NIBE Industrier AB’s articles of association, owners of Class A shares are entitled to request conversion of Class A shares to Class B shares. Conversion reduces the total number of votes in the company. When such a conversion has been carried out, NIBE Industrier AB is obliged by law to publish details of the change.