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Koninklijke Boskalis Westminster NV's Subsidiary Completes Settlement and Initiates Squeeze-Out of Shares in Dockwise Ltd


Wednesday, 20 Mar 2013 01:45pm EDT 

Dockwise Ltd announced that Boskalis Holding B.V. (Offeror), a subsidiary of Koninklijke Boskalis Westminster NV, received acceptances for a total of 22,675,948 shares, amounting in aggregate to 57.20% of the total number of shares. Settlement of payment and transfer of such shares has been completed on March 21, 2013. Together with the 16,722,812 shares that were already held by the Offeror prior to the Offer, the Offeror now holds 99.39% of the total number of shares. In addition, the Offeror has also acquired the Preference Shares held by HAL Investments B.V. in accordance with Section 7.2. of the Offer Document. Further, the Offeror initiated on March 21, 2013 a statutory squeeze-out procedure under Section 103 of the Bermuda Companies Act, which may be invoked by shareholders holding not less than 95% of the shares in a company by giving notice to the remaining shareholders of the intention to acquire their shares on the terms set out in the notice. Such notice has been submitted to the remaining shareholders on March 21, 2013. The price offered in the squeeze-out is the same as the offer price in the Offer. 

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