Koninklijke Ten Cate NV : TenCate has received no proposals other than from Gilde
2015年12月9日 - 7:31PM
Recent media articles
articles have referred to approaches by parties other than Gilde
Buy Out Partners. TenCate strongly emphasises that none of these
cases included a concrete proposal. As mentioned earlier, Ten Cate
has been approached by several parties in recent years, which has
never resulted in a concrete offer. Since the announcement of the
offer by Gilde, TenCate has not been approached by any other
party.
Today, the Financieele Dagblad quotes from a
letter of April 2015 from private equity firm Waterland to TenCate.
In this case too, there was no concrete proposal. In its letter,
Waterland asked for an introductory meeting to have a discussion
about developments in the markets in which TenCate operates, and
about possible cooperation between TenCate and Waterland. The
Boards of TenCate have carefully considered their fiduciary duties
and concluded that the letter, due to the lack of a concrete
proposal, provided an insufficient basis for discussions. Against
this background, the letter from Waterland was not a basis for
discussions. Later, nothing concrete has been forthcoming from
Waterland.
As described in the Offer Memorandum, Waterland,
or any other party, may approach TenCate with an intended higher
offer, and under such circumstances, TenCate can enter discussions
with such a party. Currently there is only one concrete offer: the
current offer of € 24.60 per share by the consortium led by Gilde
Buy Out Partners.
Royal Ten Cate
Almelo, the Netherlands, Wednesday 9 December
2015
________________________________________________________________
For further information:
Media contacts:
Hill+Knowlton Strategies
Ariën Stuijt
Tel: +31 20 4044 707
Mob: +31 6 2153 1233
Investor contacts:
Gert Steens, investor relations
Tel: + 31 546 544 977
Royal Ten Cate
(TenCate) is a multinational company that combines textile
technology with chemical processes and material technology in the
development and production of functional materials with distinctive
characteristics. TenCate products are developed, manufactured and
sold throughout the world.
Systems and materials from TenCate come under four
areas of application: safety and protection; space and aerospace;
infrastructure and the environment; sport and recreation. TenCate
occupies leading positions in protective fabrics, composites for
space and aerospace, antiballistics, geosynthetics and synthetic
turf. TenCate is listed on Euronext (AMX).
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Source: Koninklijke Ten Cate NV via Globenewswire
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