Oddo & Cie announces the closing of its squeeze-out and the withdrawal of BHF Kleinwort Benson Group’s shares

On 10 February 2016 at the close of the Initial Acceptance Period for the Counterbid, the Counterbidder held 128,563,590 BHF KB Shares, representing 97.22% of the outstanding BHF KB Shares.

Pursuant to section 7.7.4 of the Prospectus, the Counterbidder, holding more than 95% of the BHF KB Shares upon the close of the Initial Acceptance Period, had decided to proceed with a squeeze-out in accordance with articles 42 and 43 juncto article 57 of the Royal Decree of 27 April 2007 on takeover bids and article 513 of the Company Code.

 

On 11 March 2016, at the end of the Acceptance Period for the squeeze-out, 3,253,296 additional BHF KB Shares were tendered, representing together with the BHF KB Shares held by the Counterbidder at the end of the Counterbid, 99.68% of the outstanding capital of BHF KB. Settlement of the 3,253,296 BHF KB Shares tendered during the Acceptance Period of the squeeze-out is expected to occur on 24 March 2016.

 

427,278 BHF KB Shares were not tendered voluntarily during the Acceptance Period of the squeeze-out and shall be deemed transferred to the Counterbidder by operation of law on 24 March 2016. The funds necessary to pay the price for the 427,278 BHF KB Shares, which have not been tendered to the squeeze-out, shall be deposited with the Deposito-en Consignatiekas/Caisse des Dépôts et Consignations in Belgium.

 

The Counterbidder will therefore hold, following the effective transfer of the shares tendered during the squeeze-out, 132,244,164 BHF KB Shares, representing 100% of the outstanding BHF KB Shares.

 

At the close of the squeeze out, the BHF KB Shares delisted from Euronext Brussels. The last trading day was therefore 11 March 2016.

 

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