Zwolle, Friday 17 July 2009 – Wavin N.V. (“Wavin” or the “Company”) announces, in connection with its rights offering (“Rights Offering”) of 325,005,640 new ordinary shares with a nominal value of EUR 0.05 each in the
share capital of Wavin (the “Offer Shares”), the pricing and placement of the Offer Shares that were issuable upon the exercise of the transferable subscription entitlements (“SETs”) but that were not validly subscribed for
during the exercise period (“Rump Shares”).
Reference is made to the press release issued earlier today, in which the take-up of 92.2% of the Rights Offering and the Rump Offering were announced.
The Rump Shares were sold by way of private placements to institutional and professional investors in the Netherlands and in certain other jurisdictions at EUR 1.00 per Rump Share (the "Rump Offering").
Since the aggregate proceeds for the Rump Shares offered and sold in the Rump Offering, after deduction of selling expenses (including any value added tax), exceed the aggregate offer price for such Rump Shares by
EUR 0.30 per Rump Share (the "Excess Amount"), each holder of a SET that was not validly exercised at the end of the exercise period, will be entitled to receive a part of the Excess Amount proportional to the number of
unexercised SETs reflected in such holder's securities account amounting to EUR 1.20 per unexercised SET.
The Excess Amount will be distributed to holders of unexercised SETs as soon as possible following the closing of the offering and will be credited to those holders through the book-entry systems of the Nederlands Centraal
Instituut voor Giraal Effectenverkeer B.V. (“Euroclear Nederland”). Payments will be made in Euro only, without interest and after withholding of any applicable taxes. Reference is made to the prospectus dated 6 July 2009
for more information. If any such holders have not received payment of the Excess Amount within a reasonable time following the closing of the Rump Offering, such holders should contact the financial intermediary through
which they hold unexercised SETs.
Allotment of the Offer Shares was finalised today. Issuance of, payment for and delivery of the Offer Shares is expected to occur on Wednesday 22 July 2009. Wavin expects that the Offer Shares will be listed and that
trading in the Offer Shares will commence on Euronext Amsterdam by NYSE Euronext on Wednesday 22 July 2009.