INSIDE INFORMATION: Purmo Group Plc confirms receiving a preliminary non-binding indication of interest from Haier

The ad-hoc committee of the Board of Directors (“Committee”) of Purmo Group Plc (the “Company”) notes the article published on May 29, 2024, in Mergermarket information service and confirms that it has received a non-binding preliminary indication of interest (the “Indication of Interest”) from Haier Smart Home Co., Ltd. (the “Bidder”) to acquire the entire share capital of the Company for cash consideration. Pursuant to the Indication of Interest, the holders of C shares and F shares eligible for conversion into C shares would be offered a cash consideration of EUR 11.00 per share and the holders of F shares ineligible for conversion into class C shares a cash consideration of EUR 6.66 per share.

According to the Indication of Interest, launching of a binding offer is subject to a number of conditions, including conducting a due diligence investigation, recommendation of the offer by the Board of Directors of the Company and other customary conditions. If announced, completion of any such offer would in turn be subject to further conditions, including approval by shareholders holding at least 90 per cent of the shares of the Company and receipt of all necessary regulatory approvals.

The discussions with the Bidder are still at a very early stage. There is neither certainty that the Indication of Interest would lead to a binding offer nor on the terms and conditions of the possible binding offer. As the Bidder has not made any binding offer, the unanimous recommendation of the Board of Directors published by the Company on May 10, 2024, regarding the voluntary public cash tender offer made by Project Grand Bidco (UK) Limited, is still valid.

The Company will comply with statutory requirements and the Helsinki Takeover Code issued by the Securities Market Association in handling the Indication of Interest and in contacts with the Bidder.

The Company will release further information at an appropriate time if an agreement is reached with the Bidder in respect of a transaction or any discussions are terminated or abandoned.

Investor and Media enquiries:

Purmo Group

Katariina Kataja
Head of Investor Relations
Tel. +358 40 527 1427
[email protected]

Distribution:
Nasdaq Helsinki Ltd
Principal media
investors.purmogroup.com

ABOUT PURMO
Purmo is a public limited liability company incorporated under the laws of Finland with its C Shares listed on the official list of Nasdaq Helsinki. Purmo is at the centre of the global sustainability journey by offering full solutions and sustainable ways of heating and cooling homes to mitigate global warming. Purmo provides complete heating and cooling solutions to residential and non-residential buildings, including underfloor heating and cooling systems, a broad range of radiators, heat pumps, flow control and hydronic distribution systems, as well as smart products. Purmo’s mission is to be the global leader in sustainable indoor climate comfort solutions. Purmo’s approximately 3,090 employees operate in 23 countries, manufacturing and distributing top-quality products and solutions to its over 100,000 customers in more than 100 countries. Purmo’s shares are listed on Nasdaq Helsinki with the ticker symbol PURMO. More information: www.purmogroup.com.