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Final results of the Offer for KAS BANK: CACEIS will hold 97.07% of the issued and outstanding Securities

Delisting will be effective on 5 November 2019.

During the Post Acceptance Period, that expired at 17:40 (CET) today, 261,198 Securities have been tendered under the Offer, representing approximately 1.77% of the aggregate issued and outstanding share capital of KAS BANK on a fully diluted basis. Including the 14,088,162 Securities already held by CACEIS following Settlement, this is a total of 14,349,360 Securities, representing approximately 97.07% of the aggregate issued and outstanding share capital of KAS BANK on a fully diluted basis.

07 Oct 2019

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Highlights

  • During the Post Acceptance Period, approximately 1.77% of the Securities were tendered under the Offer
  • Including the Securities already held by CACEIS after Settlement, this represents a total of 97.07% the Securities
  • The Settlement of the Securities tendered during the Post Acceptance Period will take place on 11 October 2019.
  • CACEIS will initiate the statutory squeeze-out proceedings in an expeditious manner in order to obtain 100% of the Securities.
  • The last trading date of the Securities on Euronext Amsterdam will be on 4 November 2019 and listing and trading of the Securities will terminate as of 5 November 2019.

Paris, France and Amsterdam, the Netherlands, 7 October 2019

Sikko van Katwijk, Chairman of the Managing Board of KAS BANK

"Now that the offer has been completed, we will delist from Euronext Amsterdam after 33 years. We are now part of one of the largest dedicated assets servicers in Europe, and are convinced that this enables us to execute our strategy in the years to come and continue to best serve our clients’ needs. We very much look forward to being part of CACEIS group and starting this new chapter in our long history.

Jean-François Abadie, Chief Executive Officer of CACEIS

"We are delighted with this final result which confirms the success of our recommended offer. This transaction marks a new milestone for CACEIS and KAS BANK. All our clients will benefit from a comprehensive service offering from a strong European leader in asset servicing."

Settlement

With reference to the Offer Memorandum published on 26 July 2019, Securityholders who accepted the Offer shall receive the Offer Price for each Security validly tendered (or defectively tendered, provided that such defect has been waived by the Offeror) and transferred (geleverd) for acceptance pursuant to the Offer, under the terms and conditions of the Offer and subject to its restrictions. Settlement of the Securities tendered during the Post Acceptance Period and payment of the Offer Price will take place on 11 October 2019. Following settlement of the Securities tendered during the Post Acceptance Period, CACEIS will (directly or indirectly) hold 14,349,360 Securities, representing approximately 97.07% of the aggregate issued and outstanding share capital of KAS BANK on a fully diluted basis.

Delisting

As a result of the acquisition of more than 95% of the Securities by CACEIS, CACEIS and KAS BANK hereby jointly announce that the listing and trading of the Securities on Euronext Amsterdam will be terminated. In consultation with Euronext Amsterdam, it has been decided that the last day of trading of the Securities will be on 4 November 2019. This means that the termination of the listing of the Securities shall be effective as of 5 November 2019. Reference is made to sections 4.19.1 and 4.19.2 (Delisting and Liquidity of the Depositary Receipts) of the Offer Memorandum.

Squeeze-out

Since CACEIS owns more than 95% of the Securities, CACEIS will initiate the squeeze-out procedure in an expeditious manner. Reference is made to section 4.18.1 (Delisting, Squeeze-Out Procedures) of the Offer Memorandum.

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Remko Dieker

Want to know more about the final results or delisting?

Remko Dieker

Secretary to the Managing Board / Investor Relations
+31 (0)20 557 51 80