LISBON, Portugal, June 7, 2021 /PRNewswire/ -- Following the Tender Offer for the Acquisition of Semapa shares launched on 18 February 2021, a special stock exchange session was held today for the determination of the offer's results, which guaranteed Sodim the acquisition of 7.88% of the share capital of Semapa, and a holding of 81.33% of the company's share capital and 82.75% of the corresponding voting rights.
Sodim highlights the adherence to the offer of around 36% of Semapa's float (and more than 55% of the shares needed to reach the goal of 90% of voting rights). Thus Sodim takes another step towards its goal of concentrating the Group's float in Navigator while providing Semapa shareholders with a liquidity event and premium versus market as well as the possibility, for those investors who so wish, to invest in Navigator.
Sodim reminds investors that between 2016 and 2020 Semapa showed a correlation of 0.97 in its stock market performance with Navigator, which, in turn, presented in the same period an average dividend yield and an average liquidity (measured by the daily average volume of transactions) respectively 2.3 times and 4.5 times higher than Semapa.
Thus, and in accordance with the mechanism defined in the Prospectus and duly approved by CMVM, Sodim will keep a standing offer to buy Semapa shares until 15 June in cash and at a price of €11.66 (eleven euros and sixty-six cents).