Recommended cash offer for Royal TenCate

With the publication of the Offer Memorandum today, the Offeror and TenCate Jointly announce that the Offeror is making a recommended cash offer of EUR 24.60 (cum dividend) in cash per Share.

The Offeror is making the offer to all holders of Shares (“Shareholders”) on the terms and subject to the conditions and restrictions contained in the Offer Memorandum.

Shareholders tendering their Shares under the Offer will, subject to the Offer being declared unconditional, be paid in consideration for each Share validly tendered and transferred (geleverd) an amount in cash of EUR 24.60 twenty four
euro and sixty cents) cum dividend (the ”Offer Price”).

The Offer values 100% of the issued shares at approximately EUR 675 million.
The Offer Price represents a premium of 26.8% to the closing price of 17 July 2015 and a premium of 27.1% to the average closing price for the 12 months prior to and including that date. The Offer is subject to the satisfaction or waiver, as the case may be, of the Offer Conditions as set out in the Offer Memorandum, including a 95% acceptance condition. The Offeror confirmed in the press release dated 20 July 2015 that it has sufficient cash funds available to complete the Offer.

Please see the Launch Press Release and Offer Memorandum below:

Launch Press Release
Offer Memorandum

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