Son / Enschede, the Netherlands, 14 July 2021, Neways (Euronext Amsterdam: NEWAY) and the Offeror - Reference is made to the joint press releases dated 24 June and 8 July 2021 in respect of the Offer to be made by the Offeror for all issued and outstanding ordinary shares in the capital of Neways at an offer price of EUR 14.55 in cash per share (cum dividend).
Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, requiring a public announcement including a status update regarding an intended public offer within four weeks following its announcement, the Offeror and Neways hereby provide this joint update on the Offer.
The Offeror and Neways confirm that they are making good progress on the preparations for the Offer. At the date of this press release, the Offeror will submit a request for review and approval of the Offer Memorandum in relation to the Offer to the AFM. In addition, Neways’ central works council (centrale ondernemingsraad) has rendered a positive advice on the decision of Neways’ management board and supervisory board to support the transaction and recommend the Offer.
Furthermore, with reference to Article 7, paragraph 4 of the Decree, the Offeror confirms it is able to fund the aggregate consideration of the Offer fully through readily available liquid assets and cash. The Offer values 100% of the issued and outstanding shares in the capital of Neways at approximately EUR 177.8 million. The Offeror and Neways anticipate that the Offer will close in the second half of 2021.