Final results of the Offer for VolkerWessels: Reggeborgh will hold 97.79% of the Shares
Amersfoort/Rijssen, the Netherlands – 16 March 2020
Transaction highlights
- Together with Shares already held by Reggeborgh on the date hereof and including Shares tendered during the Offer Period and Post-Closing Acceptance Period, Reggeborgh will hold 97.79% of the Shares.
- Settlement of Shares tendered during the Post-Closing Acceptance Period will take place on 18 March 2020.
- Reggeborgh will request the delisting of the Shares on Euronext Amsterdam and initiate the statutory buy-out proceedings in an expeditious manner in order to obtain 100% of the Shares.
During the Offer Period 12,529,139 Shares have been tendered under the Offer, representing approximately 15.66% of the Shares and an aggregate value of approximately €274,638,727 (for an Offer Price of €22.20 (cum dividend) in cash per Share adjusted to €21.92 for the interim dividend of €0.28 paid by VolkerWessels to its shareholders on 27 November 2019).
During the Post-Closing Acceptance Period, that expired at 17:40 hours (CET) on 13 March 2020, 2,242,600 Shares have been tendered under the Offer, representing approximately 2.80% of the Shares and an aggregate value of approximately €49,157,792.
By means of the Shares tendered under the Offer and in the Post-Closing Acceptance Period, together with those already held by Reggeborgh on the date hereof, Reggeborgh will hold 78,235,886 Shares, representing approximately 97.79% of the Shares on the date hereof.
Settlement
With reference to the Offer Memorandum, Shareholders who accepted the Offer shall receive the Offer Price for each Share validly tendered (or defectively tendered, provided that such defect has been waived by Reggeborgh) and transferred (geleverd) for acceptance pursuant to the Offer, under the terms and conditions of the Offer and subject to its restrictions.
Settlement of the Shares tendered during the Post-Closing Acceptance Period and payment of the Offer Price will take place on 18 March 2020.
Delisting
As a result of Reggeborgh holding more than 95% of the Shares, Reggeborgh and VolkerWessels intend to procure the delisting of the Shares on Euronext Amsterdam as soon as possible under the Applicable Rules. VolkerWessels and Reggeborgh will request the delisting of the Shares from Euronext Amsterdam shortly. Further details on the delisting will be announced when available. Delisting may further adversely affect the liquidity and market value of any Shares not tendered. Reference is made to Section 6.11(b) (Liquidity and delisting) of the Offer Memorandum.
Buy-Out
Reggeborgh intends to initiate the Buy-Out in an expeditious manner. Reference is made to Section 6.12(b) (Buy-Out) of the Offer Memorandum.
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