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HAL Launches All-Cash Offer For All Issued And Outstanding Ordinary Shares Of Boskalis

Posted on June 27, 2022

– All-cash public offer by the Offeror for all Shares at an offer price of € 32.50 (cum dividend) per Share, adjusted to € 32.00 for the € 0.50 cash dividend paid in May 2022 by Boskalis.

– The offer price (prior to adjustment) represents a premium of 28% to both the preannouncement closing price and 3-month VWAP.

– Acceptance Period runs from June 27, 2022, to September 2, 2022.

– Completion of the Offer is expected in Q3 of 2022.

– In the aggregate, HAL and Stichting Hyacinth own approximately 52.9% of the Shares.

– The Boskalis Boards unanimously resolved to support and cooperate with the implementation of the Offer.

– The Boskalis Boards present the Offer to the Boskalis Shareholders with a neutral view on the Offer Price.

– Boskalis and HAL have agreed on certain Non-Financial Covenants, in line with HAL’s previously announced intentions. HAL supports the current business strategy and endorses the ESG principles and policies of Boskalis. No changes are envisaged to the composition of the Boskalis Boards. Boskalis’ works council rendered a positive advice.

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