Update on intended public offer for Intertrust by CSC
JOINT PRESS RELEASE
This is a joint press release by Intertrust N.V. ("Intertrust" or the "Company") and Corporation Service Company ("CSC" or the "Offeror") pursuant to the provisions of Section 7, paragraph 1 sub a of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft, the "Decree") in connection with the intended recommended public offer by the Offeror for all the issued and outstanding ordinary shares in the capital of Intertrust. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Intertrust. Any offer will be made only by means of an offer memorandum (the "Offer Memorandum") approved by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the "AFM"). This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, the United States, Canada and Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.
Update on intended public offer for Intertrust by CSC
Wilmington, Delaware, USA / Amsterdam, the Netherlands – 30 December 2021 – Reference is made to the joint press release issued by CSC and Intertrust on 6 December 2021 in respect of the conditional agreement on a recommended all-cash public offer to be made by CSC for all the issued and outstanding ordinary shares in the capital of Intertrust at an offer price of EUR 20.00 (cum dividend) (the “Offer”).
Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, which requires a public announcement, including a status update, on an intended public offer within four weeks after the offer is announced, CSC and Intertrust hereby provide this joint update on the Offer.
CSC and Intertrust confirm that they are making good progress on the preparations for the Offer. A request for review and approval of the Offer Memorandum will be filed with the AFM no later than in the second half of February 2022. In addition, the process to obtain the required competition clearances and regulatory clearances is ongoing.
CSC and Intertrust further announce that Intertrust's joint works council in the Netherlands has rendered a positive advice on the decision of Intertrust's Management Board and Supervisory Board to support the transaction and recommend the Offer.
As communicated in the joint press release dated 6 December 2021, CSC and Intertrust anticipate that the Offer will close in the second half of 2022.
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