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BASF SE's BASF AS Increases Offer Price Under Voluntary Offer for All Shares in Pronova Biopharma ASA

Tuesday, 15 Jan 2013 08:06am EST 

Pronova Biopharma ASA announced, with reference to the offer document dated December 4, 2012 regarding BASF SE's BASF AS' conditional voluntary offer for all of outstanding shares in Pronova BioPharma ASA and BASF AS' announcement on December 19, 2012 regarding extension of the offer period, that BASF AS has decided to increase the offer price under the voluntary offer from NOK 12.50 per share to NOK 13.50 per share. BASF AS has by January 14, 2013 received acceptances under the voluntary offer for 209,595,097 shares representing approximately 69.67% of the issued shares and votes in Pronova. This number includes 178,618,165 shares tendered by shareholders that have provided irrevocable undertakings to accept the offer representing approximately 59.4% of the issued shares and votes in Pronova. Neither BASF AS nor any of its close associates holds any shares, warrants or other financial instruments issued by Pronova as of the date of the announcement. As announced on January 9, 2013 all regulatory approvals required for completion of the voluntary offer have been obtained. The offer period expires on January 18, 2013 at 16:30 CET. BASF AS announced that the increased offer price of NOK 13.50 per share cannot be increased any further under the terms of the voluntary offer and will remain BASF AS last and final offer. The other terms and conditions of the voluntary offer remain unchanged, including the 90% acceptance condition. 

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