Shareholders tender 7 percent of shares to Fosun as of expiry of first acceptance period within takeover offer

  • After processing these tenders, Fosun will hold around 58 percent of Wolford’s shares
  • 3-month additional acceptance period for Wolford shareholders from May 9, 2018

 

May 11, 2018: Late on the evening of Wednesday, May 9, 2018, Fosun Industrial Holdings Limited (the “bidder”) published the results of the anticipatory mandatory offer (takeover offer) to acquire all shares outstanding in Wolford AG. According to the information published by the bidder, the takeover offer was accepted by the bearers of a total of 358,724 Wolford shares, i.e. 7.17 percent of all Wolford shares outstanding. Once the associated transactions have been processed, Fosun will then hold 2,902,418 shares, corresponding to a shareholding of 58.048% in Wolford AG.
Fosun Industrial Holdings Limited had published an anticipatory mandatory offer (the “offer”) to shareholders in Wolford AG on April 6, 2018 pursuant to Section 22 of the Austrian Takeover Act (“ÜbG”). The offer was solely subject to the condition precedent that the share purchase agreement with the previous core shareholders in Wolford AG would be closed. This occurred on May 4, 2018. The acceptance period for the offer ran until 5.00 p.m. (Central European Time) on May 7, 2018.

 

For Wolford shareholders who did not yet accept the offer made by Fosun Industrial Holdings Limited during this acceptance period, this period will be extended pursuant to Section 19, para 3 No.1 ÜbG by a further three months (“additional acceptance period”) from the date on which the results of the takeover offer were announced, i.e. May 9, 2018.  During the additional acceptance period, shareholders in Wolford AG who were addressees of the offer but did not accept such may still tender their shares to Fosun Industrial Holdings Limited at an unchanged price of EUR 13.77 per share.