Hunter Douglas tender offer may proceed; Court dismisses objections

The administrative court (College van Beroep voor het bedrijfsleven) has dismissed the appeal brought by certain minority shareholders of Hunter Douglas. The appeal was aimed at the decision by the Autoriteit Financiële Markten (AFM) not to prohibit the contemplated bookbuilding tender offer (Dutch: tenderbod) by Bergson for 10,500,000 common shares of Hunter Douglas. The opinion of the AFM that the tender offer does not violate the Dutch offer rules was confirmed.

At the Extraordinary Shareholders' Meeting held in Curaçao on 30 June 2005 the offer has been discussed and the proposed amendment of the Hunter Douglas' Articles of Association has been approved. The articles of association have been amended and the newly authorized class of cumulative preference shares have been issued. The offer is expected to be announced later today or on 2 July 2005. The offer will be made through an offer document containing the terms and conditions of, and more detailed information on, the offer. Bergson will make the offer document publicly available.

Hunter Douglas and Bergson were informed that the same minority shareholders will initiate their earlier announced summary proceedings at the Rotterdam District Court against Bergson and Hunter Douglas. The hearing in the proceedings is scheduled for 6 July 2005 at 13.00 hours.

This press release is an announcement as mentioned in Section 9b paragraph 1 of the Securities Market Supervision Decree (Besluit toezicht effectenverkeer 1995).

For further information from Hunter Douglas N.V.:
Margaret van Kempen
Van Kempen Public Relations & Public Affairs
telefoon +31 (0)70 346 3760
telefax +31 (0)70 346 1784
mobiel + 31 (0)653 805 856
m.vankempen@kempenpr.nl

For further information from Bergson Holdings N.V.:
Christopher C. King
Vice President
Phone: +41 79 219 6911
christopherking@bluewin.ch

 

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