Offer period TenCate extended until 14 January 2016
The Offeror and TenCate hereby jointly announce that the Offeror has decided to extend the Acceptance Period.
The Acceptance Period for the recommended public offer for all Shares in the capital of TenCate has been extended to 17:40 hours on 14 January 2016, in accordance with the terms and conditions of the Offer Memorandum and the provisions of Article 15 of the Takeover Decree.
The Acceptance Period has been extended by the Offeror due to the Offer Condition 3.9(b) (Acceptance Level) not being fulfilled upon expiry of the initial Acceptance Period at 17:40 hours CET on 16 December 2015.
During the extension of the Acceptance Period, any Shares previously tendered and not withdrawn will remain subject to the Offer. In accordance with article 15, paragraph 3 of the Takeover Decree, Shares tendered on or prior to the original Acceptance Closing Time may be withdrawn during the Acceptance Period as extended.
Following 17:40 hours CET on 16 December 2015, being the Acceptance Closing Time, 16,334,736 Shares had been tendered under the recommended public cash offer by the Offeror or committed to the Offeror subject only to the Offer being declared unconditional, at an Offer Price of EUR 24.60 per Share (the “Offer”). These tendered Shares represent approximately 60.55% of all the Company’s issued and outstanding share capital (geplaatst kapitaal), i.e. excluding 475,687 Shares held in treasury by the Company, amounting to a total value of approximately EUR 401.8 million (if valued at the Offer Price of EUR 24.60 per Share).
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TenCate is a multinational company which combines materials technology and chemical processes in the development and production of functional materials with distinctive characteristics. TenCate products are developed, manufactured and sold around the world. Systems and materials from TenCate come in four areas of application: safety & protection, space & aerospace; infrastructure & environment; sports & recreation. TenCate occupies leading positions in protective fabrics, composites for space and aerospace, antiballistics, geosynthetics and synthetic turf. For more information, visit www.tencate.com.
With offices in the Benelux and DACH region, Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions. Founded in 1982, Gilde has been supporting management teams in over 100 buy out transactions. Gilde manages funds in excess of €3 billion and has a controlling interest in companies such as CID Lines, Roompot, Axa Stenman, Comcave, Spandex, Riri, Teleplan, Powerlines and HG. For more information, visit www.gilde.com.
About Parcom Capital
Parcom Capital is a leading mid-market private equity firm in the Benelux with a mid- to long-term investment horizon focused on distinctive value creation strategies. It was founded in 1982 as one of the first buy-out and expansion capital providers in the Dutch market. Over the past 30 years, Parcom Capital invested directly in more than 75 (international) companies, was involved in numerous add-ons and helped multiple management teams in realizing their growth ambitions. For more information visit www.parcomcapital.com
About ABN AMRO Participaties
ABN AMRO Participaties (“AAPart”) is the private equity firm of ABN AMRO Group, and invests in profitable companies in the Netherlands. AAPart has a mid- to long-term investment horizon, and supports entrepreneurial management teams in realising their growth ambitions. Over the past 30 years, AAPart has invested in more than 100 companies in various industries, helping them to grow organically as well as through add-on acquisitions. For more information, visit www.abnamroparticipaties.nl