TCC Group Holdings Co., Ltd Increases the Price of Its Simplified Tender Offer on NHOA to EUR 1.25 Per NHOA Share
August 21 2024 - 12:55AM
Business Wire
Regulatory News:
Reference is made to the simplified tender offer which has been
filed by TCC Group Holdings Co., Ltd (”TCC” or the
“Company”; TWSE: 1101) on 8 July 2024, with the French
Autorité des marchés financiers (the “AMF”) (AMF notice no.
224C1129), through its indirect subsidiary Taiwan Cement Europe
Holdings B.V., on the shares of NHOA S.A. (EURONEXT PARIS: NHOA.PA)
(“NHOA”) at the price of EUR 1.10 per NHOA share (the
“Tender Offer”).
On 19 August 2024, NHOA announced that the ad hoc committee of
its Board of Directors expressed some reservations as to the
fairness of the EUR 1.10 price per NHOA share in cash proposed by
TCC and has therefore asked it to express its intentions regarding
the Tender Offer.
The Board of Directors of TCC has taken note of these
reservations and, in this context, has approved on 20 August 2024
the increase of the price of the Tender Offer to EUR 1.25 per NHOA
share.
The increased price of EUR 1.25 per NHOA share represents a 114%
premium over the closing share price as of 12 June 2024 prior to
the announcement of the Tender Offer, as well as premiums of 114%,
94% and 82% respectively compared to the volume-weighted average
prices over the 60, 120 and 180 trading days preceding that
date.
Accordingly, an updated draft offer document will be filed with
the AMF by mid-September 2024. The timing of the Tender Offer will
be adapted accordingly.
Discussions with the ad hoc committee of NHOA’s Board of
Directors and its advisors will resume on that basis. Shareholders
and potential investors of NHOA should continue to exercise caution
when dealing in the securities of NHOA, and if they are in any
doubt about their position, they should consult their professional
adviser(s).
Disclaimer
This press release has been prepared for information purposes
only. It does not constitute an offer to purchase or a solicitation
to sell NHOA shares in any country, including France. There is no
certainty that the simplified tender offer mentioned above will be
opened. Under French law, the offer may not be opened until the AMF
has issued a clearance decision (déclaration de conformité). Any
decision relating to the offer must be based exclusively on the
information contained in the offer documentation.
The dissemination, publication or distribution of this press
release may be subject to specific regulations or restrictions in
certain countries. The offer will not be addressed to persons
subject to such restrictions, either directly or indirectly, and
will not be accepted from any country where the offer would be
subject to such restrictions. Accordingly, persons in possession of
this press release are required to inform themselves about and to
comply with any local restrictions that may apply. The Company
declines all responsibility for any breach of these restrictions by
any person whatsoever.
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version on businesswire.com: https://www.businesswire.com/news/home/20240820108685/en/
Press Office: Claudia Caracausi and Davide Bruzzese, Image
Building, +39 02 89011300, nhoa@imagebuilding.it Financial
Communication and Institutional Relations: Chiara Cerri, +39 337
1484534, ir@nhoagroup.com
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