C.B Holdings holds 93% of Caramondani after PO
22/4/2008 11:26
Successful Public Offer of C. Holdings Limited to the shareholders of Caramondani Bros Public Company Limited
C.B. Holdings Limited announces that the public offer for the acquisition of a minimum 50% plus 1 share and a maximum 100% of the issued share capital of Caramondani Bros Public Company Limited, which was submitted on March 12, 2008, expired successfully on April 18, 2008.
At first sight, the total rate of acceptance by the shareholders of Caramondani Bros reached 47.13%, since the acceptances that were submitted were for 4,723,935 shares of Caramondani Bros. This number includes acceptances for 9,000 shares that were received by a company controlled by the Board of Directors of the Offeror. The total rate of acceptance together with the 45.87% that the Offeror held at the expiry of the Public Offer on April 18, 2008 increases the Offeror’s stake in the Company to 93.00%.
Pursuant to the PO terms, if the Offeror acquires more than 90% in the share capital of the company, it may proceed with all necessary actions for the delisting of the Company from the CSE. In that case, the Offeror does not intend to exercise a squeeze out. According to article 37(1), the holder of the remaining titles of Caramondani Bros can demand by the Offerors to buy his/her titles at a fair price. This right is exercisable within three months from the date of expiry of the period of acceptance.
The consideration of €0.90 cash per 1 share of Caramondani Bros will be paid to the shareholders of Caramondani who accepted the PO within 14 business days from the expiry of the period of acceptance.
C.B Holdings would like to thank the shareholders of Caramondani Bros for their response.
C.B. Holdings Limited announces that the public offer for the acquisition of a minimum 50% plus 1 share and a maximum 100% of the issued share capital of Caramondani Bros Public Company Limited, which was submitted on March 12, 2008, expired successfully on April 18, 2008.
At first sight, the total rate of acceptance by the shareholders of Caramondani Bros reached 47.13%, since the acceptances that were submitted were for 4,723,935 shares of Caramondani Bros. This number includes acceptances for 9,000 shares that were received by a company controlled by the Board of Directors of the Offeror. The total rate of acceptance together with the 45.87% that the Offeror held at the expiry of the Public Offer on April 18, 2008 increases the Offeror’s stake in the Company to 93.00%.
Pursuant to the PO terms, if the Offeror acquires more than 90% in the share capital of the company, it may proceed with all necessary actions for the delisting of the Company from the CSE. In that case, the Offeror does not intend to exercise a squeeze out. According to article 37(1), the holder of the remaining titles of Caramondani Bros can demand by the Offerors to buy his/her titles at a fair price. This right is exercisable within three months from the date of expiry of the period of acceptance.
The consideration of €0.90 cash per 1 share of Caramondani Bros will be paid to the shareholders of Caramondani who accepted the PO within 14 business days from the expiry of the period of acceptance.
C.B Holdings would like to thank the shareholders of Caramondani Bros for their response.
