FINCANTIERI S.p.A.: Exit Offer has closed with valid acceptances of the Exit Offer of a total of 107,871,561 Vard shares

TRIESTE, 18-Oct-2018 — /EuropaWire/ — FINCANTIERI S.p.A. (“Fincantieri”) announces that, in relation to the exit offer (“Exit Offer“) by its subsidiary Fincantieri Oil & Gas S.p.A. (“Fincantieri O&G“) for all the issued ordinary shares in the capital of Vard Holdings Limited (“Vard”) other than those already owned, controlled or agreed to be acquired by Fincantieri O&G, its related corporations and their respective nominees, in connection with the proposed voluntary delisting of Vard, the Exit Offer has closed today at 5.30 p.m. (Singapore time) with valid acceptances of the Exit Offer of a total of 107,871,561 Vard shares.

Following the Exit Offer and the acquisition of Vard shares on the Singapore Stock Exchange during the Exit Offer period, as of 5.30 p.m. (Singapore time) today, the total number of Vard shares owned, controlled or agreed to be acquired by Fincantieri O&G, its related corporations and their respective nominees, amounts to an aggregate number of 1,132,636,371 Vard shares, representing approximately 95.99% of Vard’s issued share capital.

The consideration paid by Fincantieri O&G for the Vard shares tendered in acceptance of the Exit Offer is approximately SGD 26,967,890 (approximately euro 16,918,375 at the current exchange rate of approximately euro 1.000 : SGD 1.594) while the consideration paid by Fincantieri O&G for the Vard shares acquired on the Singapore Stock Exchange (excluding brokerage fee, clearing fee and applicable tax) is SGD 22,134,775 (approximately euro 13,886,308 at the current exchange rate of approximately euro 1.000 : SGD 1.594).

The trading of Vard shares is expected to be suspended at 9.00 a.m. (Singapore time) on October 16, 2018, while the delisting of Vard from the Singapore Stock Exchange, which was approved by Vard shareholders at the Extraordinary General Meeting held on July 24, 2018, will take place subsequently in compliance with the applicable procedures and timelines determined by the Singapore Stock Exchange.

The transaction does not impact the forecasts and the quantitative targets previously published by Fincantieri.

PRESS  ROOM

Trieste

Via Genova, 1 – 34121 Trieste
+ 39 040 3192225
+ 39 040 3192527
press.office@fincantieri.it

SOURCE: FINCANTIERI S.p.A.

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