Announcement by Bure of the outcome of the mandatory offer

Announcement of the outcome of Bure Equity AB’s (publ) offer to the shareholders and holders of warrants in AcadeMedia AB (publ)

On 22 October 2007, Bure Equity AB (publ) (“Bure”) announced a public offer to acquire all outstanding shares and warrants in AcadeMedia AB (publ) (“AcadeMedia”), in accordance with the mandatory offer rules in the Swedish Act on Public Takeover Offers (Sw. Lag om offentliga uppköpserbjudanden på aktiemarknaden) (the “Offer”). The offer period was completed on 10 December 2007. Bure has decided not to prolong the Offer period. An almost final calculation has been made of the outcome of the mandatory offer, see the below for further information.

As follows from the calculation, shareholders and holders of warrants in AcadeMedia, representing in total 88,763 shares of series B and in total 3,000 warrants, corresponding to 1.54 percent of the share capital and 1.00 percent of the votes in AcadeMedia before full dilution, and 1.58 percent of the share capital and 1.02 percent of the votes in AcadeMedia after full dilution, have accepted the Offer.

Bure has acquired in total 523,284 shares of series B outside the Offer, corresponding to 9.10 percent of the share capital and 5.87 percent of the votes in AcadeMedia before full dilution, and 9.03 percent of the share capital and 5.84 percent of the votes in AcadeMedia after full dilution.

In accordance herewith, Bure holds, after completion of the Offer, 248,525 shares of series A and 1,878,295 shares of series B and 3,000 warrants in AcadeMedia, corresponding to 36.98 percent of the share capital and 48.94 percent of the votes in AcadeMedia before full dilution, and 36.76 percent of the share capital and 48.74 percent of the votes in AcadeMedia after full dilution. Settlement to shareholders and holders of warrants accepting the Offer is estimated to begin on or about 18 December 2007. Bure reserves the right to acquire further shares in AcadeMedia in the market.

“Since we are now in control of almost 50 per cent of the votes, we look forward to increase our participation in AcadeMedia in co-operation with the other largest shareholders. This will start as a part of the work in the Nominating Committee. In the long-term we will influence the company towards investments, restructuring, acquisitions and divestments. In this work, Bure’s experience within the educational industry will be of great importance. Bure does not today see any reason why AcadeMedia should not continue as a listed company, but we have taken note of the fact that the Board of AcadeMedia has expressed that this could be a consequence of the decrease in the trading activity in the AcadeMedia share”, says Mikael Nachemson, President, Bure.


Göteborg, 11 December 2007
Bure Equity AB (publ)


wkr0041.pdf