D.E Master Blenders announces that statutory buy-out proceedings initiated by Oak Leaf to be concluded; shareholders that together hold approximately 4.7% of DEMB's issued share capital can now transfer their shares to Oak Leaf for €12.50/share
Nevin Barich
AMSTERDAM
,
April 8, 2014
(press release)
–
D.E MASTER BLENDERS 1753 B.V. ("DEMB") announces that the statutory buy-out proceedings, initiated by Oak Leaf B.V. ("Oak Leaf"), will be concluded as a result of a decision today of the Enterprise Chamber in Amsterdam.
Shareholders that together hold approximately 4.73% of the issued share capital of DEMB can now transfer their DEMB shares to Oak Leaf for EUR 12.50 per share, equal to Oak Leaf's public offer on 19 June 2013, increased with interest at a rate of 3% per annum, to be calculated over the period from 8 April 2014 until the day of transfer of the shares.
In accordance with Dutch law, the buy-out proceedings followed the successful public offer by Oak Leaf. With today's decision of the Enterprise Chamber, the acquisition of DEMB by Oak Leaf can be fully finalized, enabling Oak Leaf to become the sole shareholder of DEMB on 24 April 2014. On 24 April 2014, all shares that have not been transferred to Oak Leaf voluntarily will automatically transfer to Oak Leaf and the former shareholders are then entitled to request payment of the buy-out price plus accrued interest from the consignment fund of the Dutch Ministry of Finance only.
Up until 23 April 2014, shareholders may voluntarily transfer their shares to Oak Leaf. The voluntary method of transfer involves certain formalities and related costs payable by the shareholder. Since the respective transfer procedures entail specific requirements and actions, DEMB has published the procedures and related information on a dedicated page on its website.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
