KPN and Getronics are making good progress with preparations for the recommended public offer for Getronics

8/29/2007, 8:00 AM (Source: GlobeNewswire)



This is a joint press release of Royal KPN N.V. and Getronics N.V.
This is not a public announcement that a public offer is to be made,
but an announcement pursuant to article 9g paragraph 1 sub a of the
Dutch Decree on the Supervision of the Securities Trade 1995 (Besluit
toezicht effectenverkeer 1995), pursuant to which Royal KPN N.V. is
required to issue a public announcement within 30 days after the
initial public announcement of 30 July 2007. Not for release,
publication or distribution, in whole or in part, in or into the
United States of America,, Canada, Australia, Italy and Japan.

The Hague, Amsterdam, 29 August 2007

Following the joint public announcement dated 30 July 2007 by Royal
KPN N.V. ("KPN") and Getronics N.V. ("Getronics") regarding the
intended public offer for all the issued and outstanding ordinary
shares in the capital of Getronics ("Shares") at an offer price of
EUR 6.25 in cash per Share, inclusive of any dividend payable for the
financial year 2007, KPN and Getronics confirm that they are making
good progress with preparations for the recommended public offer for
Getronics.

KPN further intends to make offers for all of the issued and
outstanding senior notes convertible into ordinary shares in the
capital of Getronics, as well as for the cumulative preference shares
issued by Getronics. The intended all-cash offer prices are EUR 1,040
(plus accrued interest) per EUR 1,000 in principal amounts of the EUR
100,000,000 5.5% listed unsubordinated convertible bonds due 2008,
EUR 50,500 (plus accrued interest) per EUR 50,000 in principal
amounts of the EUR 150,000,000 2.75% listed senior unsecured
convertible bonds due 2010 and EUR 52,500 (plus accrued interest) per
EUR 50,000 in principal amounts of the EUR 95,050,000 3.875% listed
senior unsecured convertible bonds due 2014.

The commencement of the offers is subject to the satisfaction or
waiver of certain pre-offer conditions as set out in the joint public
announcement dated 30 July 2007. Both KPN and the Dutch division of
Getronics (Getronics PinkRoccade) have received a positive advice
from their works councils with regard to the intended offers.

KPN currently holds 29.9% of the Shares (representing 23.1% of the
total issued share capital of Getronics), which it has acquired in
ordinary stock exchange trading after the initial announcement of the
intended offers on 30 July 2007.

With reference to article 9g paragraph 1 sub a of the Dutch Decree on
the Supervision of the Securities Trade 1995 (Besluit toezicht
effectenverkeer 1995), KPN expects the offer memorandum, containing
the terms and conditions of the offers, to be made publicly available
in the first half of September 2007.

Press and Investor enquiries
KPN:

Press enquiries: Marinus Potman Investor enquiries: Eric Hageman,
Tel: +31 70 44 66 300 Head of IR
Email: press@kpn.com Tel: +31 70 34 39 144
Email: ir@kpn.com

Getronics:

Press enquiries: Simon Investor enquiries: Simon Theeuwes,
Theeuwes Vice-President Investor Relations
Tel: +31 20 586 1581 Tel: +31 20 586 1982
Email: media@getronics.com Email: investor.relations@getronics.com


Disclaimer
This announcement does not constitute, or form any part of, an offer,
or any solicitation of any offer, to buy or subscribe for any
securities of Getronics N.V. or any other securities, nor shall it
(or any part of it) form the basis of, or be relied upon in
connection with, any contract therefor. In the event that such an
offer is made, details of the offer will be set out in an offer
memorandum, which will contain the full terms and conditions of the
offer including how the offer can be accepted, and which will be made
available free of charge.

This announcement is a press release and not a prospectus and holders
of securities in Getronics N.V. referenced above should not make any
decisions except on the basis of the information contained in the
offer memorandum to be published in due course.

This announcement will also be published in Dutch. In the event of
any inconsistencies between the English and Dutch versions of this
announcement, the English version will prevail.


View document
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.