Ziggo Holding B.V. (formerly Ziggo N.V., "Ziggo") announces that today the Enterprise Chamber of the Amsterdam Court of Appeal (the “Enterprise Court”) reached its judgment in the statutory squeeze-out proceedings, initiated by LGE HoldCo VII B.V. (the “Offeror"), LGE HoldCo V B.V. and Ziggo.
The Enterprise Court established that EUR39.78 is the fair squeeze-out price per Ziggo share and ordered all minority shareholders of Ziggo to transfer their shares to the Offeror against payment of EUR39.78 per share in cash, increased by statutory interest to be calculated over the period from April 21, 2015 until the day of transfer of the shares. According to the Enterprise Court, this represents the equivalent to the Offeror’s public offer on June 27, 2014.
Up until and including May 13, 2015, shareholders may voluntarily transfer their shares to the Offeror. Shareholders should contact their bank, broker or other financial intermediary to obtain information on how to transfer their shares to the Offeror’s securities account with the public offer’s Exchange Agent ING Bank N.V.
On May 19, 2015, the Offeror will pay the squeeze-out price into the consignment fund of the Dutch Ministry of Finance. As of that date, all shares that have not been transferred to the Offeror voluntarily will automatically transfer to the Offeror, and the former shareholders are then entitled to receive payment of the squeeze-out price plus accrued interest from the consignment fund of the Dutch Ministry of Finance only.
In accordance with Dutch law, the squeeze-out proceedings followed the successful public offer by the Offeror. With today's judgment of the Enterprise Court, the acquisition of Ziggo by the Offeror can be fully finalized, enabling Liberty Global plc to indirectly become the sole shareholder of Ziggo.