Prometheus in partial Pandora exit

Pandora will not receive any proceeds from the accelerated book-built offering.

After completion of the deal, and a separate purchase of existing shares in Pandora from a minority founding shareholder as well as a share buy-back programme, Prometheus will own 53,187,416 shares in Pandora, around 40.9% of Pandora's share capital and voting rights.

Prometheus will continue to participate in Pandora's share buy-back programme on a pro rata basis, based on Prometheus's shareholding after completion of the transaction and the purchase from the minority founding shareholder.

Prometheus aims to support Pandora and the management team to continue its growth strategy as its largest shareholder.

Company
Founded in 1982 and based in Glostrup, Pandora is a Danish jewellery maker, operating from in-house design to global marketing. Its products are sold in more than 65 countries.

The company employs approximately 6,000 people, of whom 4,000 are located in Thailand, where the company manufactures its jewellery.

People
Bjørn Gulden is the CEO of Pandora.

Advisers
Vendor – N M Rothschild & Sons Ltd (Financial due diligence); JP Morgan Securities plc (Bookrunners); Nordea Markets (Bookrunners).

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