Amersfoort/Rijssen, the Netherlands, 2 September 2020 - On 1 September 2020, the Enterprise Chamber of the Court of Appeal in Amsterdam, the Netherlands (the Enterprise Chamber), rendered its judgment in the statutory buy-out proceedings initiated by Reggeborgh Holding B.V. (Reggeborgh)to acquire any shares of Koninklijke VolkerWessels B.V. (VolkerWessels) not already acquired by Reggeborgh in its previously completed tender offer (the Offer) for all outstanding ordinary shares of VolkerWessels (the Shares and each a Share).
- Judgment rendered by the Enterprise Chamber in the buy-out proceedings on VolkerWessels Shares
- Price to be paid: € 22.14 (offer price of € 21.92 + statutory interest of € 0.22)
- Voluntary transfer to Reggeborgh possible between 2 September 2020 and 16 September 2020
- Transfer by operation of law of shares not voluntarily transferred will occur on 18 September 2020
On 1 September 2020, the Enterprise Chamber of the Court of Appeal in Amsterdam, the Netherlands (the Enterprise Chamber), rendered its judgment in the statutory buy-out proceedings initiated by Reggeborgh Holding B.V. (Reggeborgh)to acquire any shares of Koninklijke VolkerWessels B.V. (VolkerWessels)not already acquired by Reggeborgh in its previously completed tender offer (the Offer) for all outstanding ordinary shares of VolkerWessels (the Shares and each a Share).
The Enterprise Chamber ordered all remaining shareholders in VolkerWessels to transfer the unencumbered right to their Shares to Reggeborgh. It determined that € 21.92, the same price paid by Reggeborgh in the Offer, is the fair price per Share, subject to statutory interest calculated from 18 March 2020 until the date of transfer of the Shares. Reggeborgh was ordered to pay this price plus interest in exchange for the transfer of the unencumbered right to the Shares.
Voluntary transfer
Reggeborgh calls upon the VolkerWessels shareholders to effect the voluntary transfer to Reggeborgh of the unencumbered right to the Shares between 2 September and 16 September 2020, at 15.00 hours CET, by instructing their bank, broker or other financial intermediary to have their Shares credited to Reggeborgh's securities account. On 17 September 2020, Reggeborgh will pay the price of € 22.14 (€ 21.92 plus interest up to and including 18 September 2020 of € 0.22) to those shareholders that have voluntarily transferred their Shares before 16 September 2020, at 15.00 hours CET. No brokerage or bank fees or other costs incurred by such VolkerWessels shareholders will be reimbursed by Reggeborgh.