Dockwise Ltd Updates on Koninklijke Boskalis Westminster NV Intended Voluntary Offer for Dockwise

Dockwise Ltd announced with reference to the press release of November 26, 2012 in which Koninklijke Boskalis Westminster NV (Boskalis) announced its intention to make an offer for Dockwise, that Boskalis on December 17, 2012 reconfirms its intention to make an all cash voluntary public offer for all the issued and outstanding ordinary shares of Dockwise. The offer will be made in euros at an offer price of EUR 18 per Share (cum dividend), which is an increase of EUR 0.80 relative to the initial announcement. The offer price represents: a premium of approximately 69% relative to the closing price of EUR 10.66 per share of Dockwise as per November 23, 2012; a premium of approximately 41% relative to the average closing price of an ordinary share of Dockwise during the last three months; and a premium of approximately 36% relative to the average closing price of an ordinary share of Dockwise during the last 12 months. The offer values Dockwise at EUR 714 million with an enterprise value of approximately EUR 1.23 billion. Over 72% of the shares is already acquired by, or committed to, Boskalis. The definitive offer announcement will be made once Boskalis has received confirmations from the banks in respect of committed financing. The offer and the refinancing of existing facilities will be funded through a mix of existing cash resources, new senior debt facilities and new equity.