Hunter Douglas intends to offer to purchase for cash up to 13.4 million of its common shares through a public offer

Rotterdam, March 13, 2008 – Hunter Douglas, the world market leader in window coverings and a major manufacturer of architectural products, announces its intention to offer to purchase for cash up to 13.4 million common shares held by its minority shareholders, through a public offer of EUR 43.00 per common share. The proposed offer will not be conditioned upon any minimum number of common shares being tendered and is not extended to the 28.8 million common shares held by Bergson, a Dutch corporation controlled by Mr. R. Sonnenberg. The offer price of EUR 43.00 per common share implies a premium of 17.1% above the closing price of EUR 36.73 on March 12, 2008.

Following recent changes in the Dutch tax legislation, a purchase by Hunter Douglas of its own common shares will be free of Dutch withholding tax. 

Hunter Douglas will finance the proposed offer through a reduction of its investment portfolio and bank facilities.

The Board, represented by the independent directors, Messrs. Andriessen, Boonstra, van den Hoven and van Tooren, has approved the proposed offer, but does not make any recommendation to shareholders whether to tender or refrain from tendering any common shares.

An Offer Memorandum containing only limited conditions, which have not yet been determined, is expected to be published around Easter. The offer will be made through the Offer Memorandum. After the Offer Document is published, there will be an informational meeting.

The proposed public offer is exempted from the Dutch public offer rules and regulations.

This press release is pursuant to section 5:59 of the Dutch Financial Markets Supervisions Act (Wet op het financieel toezicht) and is not for publication, in whole or in part, in Australia, Canada or Japan.

For further information contact:
Leen Reijtenbagh
Chief Financial Officer
Tel. +31 10 486 9582
E-mail  : l.reijtenbagh@hdnv.nl
Website: www.hunterdouglasgroup.com

 

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