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BRIEF-Zetes Industries launch of a squeeze-out by Panasonic
June 20, 2017 / 6:12 AM / 4 months ago

BRIEF-Zetes Industries launch of a squeeze-out by Panasonic

June 20 (Reuters) - ZETES INDUSTRIES SA:

* ZETES INDUSTRIES SA - RESULTS OF THE INITIAL ACCEPTANCE PERIOD OF PANASONIC‘S PUBLIC TAKEOVER BID FOR ZETES, REOPENING OF THE BID AND LAUNCH OF A SQUEEZE-OUT

* ‍DURING INITIAL ACCEPTANCE PERIOD, 2,107,049 SHARES OF ZETES, REPRESENTING 39.09% OF OUTSTANDING SHARES OF ZETES, WERE TENDERED INTO TAKEOVER BID.​

* AS PANASONIC AND ITS AFFILIATES HOLD AT LEAST 90% OF SHARES OF ZETES THERE WILL BE A MANDATORY REOPENING OF TAKEOVER BID

* ‍AT END OF INITIAL ACCEPTANCE PERIOD, PANASONIC AND ITS AFFILIATES HOLD AN AGGREGATE NUMBER OF 5,179,833 SHARES OF ZETES, REPRESENTING 96.11% OF OUTSTANDING SHARES OF ZETES​

* OFFERED PRICE OF EUR 54.50 PER SHARE IS FINAL PRICE

* ‍BIDDER HAS DECIDED THAT MANDATORY REOPENING OF TAKEOVER BID SHALL HAVE EFFECT OF A SIMPLIFIED SQUEEZE-OUT​

* ‍UPON CLOSING OF TAKEOVER BID AND SQUEEZE-OUT ON 12 JULY 2017, SHARES OF ZETES WILL BE AUTOMATICALLY DELISTED FROM EURONEXT BRUSSELS​

* ‍ACCEPTANCE PERIOD REOPENED BID FROM 21 JUNE 2017 UNTIL 12 JULY 2017 (INCLUSIVE) AT 4:00 P.M.​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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