Grontmij announces that it has successfully completed the public offer on Ginger shares.
Today the French Autorité des Marchés Financiers (‘AMF’) published the results of the public offer. In the course of the public offer, from 23 July up to and including 19 August 2010, Grontmij’s French subsidiary, Grontmij France S.A.S., acquired 1,308,336 Ginger shares at a price of € 28.20 per share. Together with the shares acquired prior to the opening of the public offer, Grontmij now holds 4,197,262 shares representing 98.64% of the shares and at least 98.62% of the voting rights of Ginger (on the basis of 4,255,341 shares and a maximum of 4,255,964 voting rights in total).
As the Ginger shares that have not been tendered to the public offer represent less than 5% of Ginger's capital and voting rights, Grontmij intends to request the implementation of a mandatory squeeze out (‘retrait obligatoire’) as soon as possible and in any case within a period of three months from now. This intention was already announced by Grontmij in its ‘note d'information’ relating to the public offer (AMF visa n°10-268 of 20 July 2010).The intended squeeze out price per Ginger share will amount to € 28.20 subject to a decision of conformity by the AMF and a complementary report by an independent expert acting in accordance with the provisions of the AMF General regulations.
The timetable and the procedure of the squeeze out will be published by the AMF and Euronext. Following the squeeze out the shares of Ginger will be delisted from Euronext Paris.
Sylvo Thijsen, CEO Grontmij: ‘We are excited about the successful completion of the transaction and Ginger joining the Grontmij Group. Grontmij now belongs to the top 5 within the engineering consultancy industry in Europe and we are well on our way with our strategy to become the leading European sustainable design, engineering and management consultancy for the built and natural environment. We view the transaction as further evidence of our commitment to seize opportunity when presented and achieve our long term targets, thereby creating shareholder value and benefits to our customers and employees. With the full dedication, knowledge and expertise of both Ginger and Grontmij we have great confidence in the future ahead.’
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Notes to the editors
Grontmij is a leading sustainable design, engineering and management consultancy active in the growth markets of water, energy, transportation and sustainable planning and design. At the core of our business is the principle of sustainability by design that is a leading value proposition for our customers. Grontmij is the fourth largest engineering consultancy in Europe with almost 300 offices across the region and a further 50 offices globally. We have nearly 11,000 professionals around the world.
Our value chain of services stretches from major renewable water and energy infrastructure through designing efficient and environmentally-sensitive mobility and transportation networks to shaping our urban and green living spaces.
Whilst we are approaching our 100th anniversary, and benefit from the experience nearly a century provides, we prefer to look to the future to enhance the world we live in. By applying sustainability considerations to all our design, consultancy and management services right across the value chain, our highly-skilled, expert people are able to create lasting solutions that plan for, connect and respect the future.
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