14 July 2021
This is a joint press release by Neways Electronics International N.V. (Neways) and Infestos Sustainable Solutions B.V. (the Offeror), a direct wholly-owned subsidiary of Infestos Sustainability B.V., pursuant to the provisions of Section 7, paragraph 1 sub a and Section 7, paragraph 4 of the Netherlands Decree in Public Takeover Bids (Besluit openbare biedingen Wft) (the Decree) in connection with the announced, recommended public offer by the Offeror for all the issued and outstanding ordinary shares in the capital of Neways (the Offer). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Neways. 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, any jurisdiction in which such release, publication or distribution would be unlawful.
Update on the announced recommended public offer for Neways
Son / Enschede, the Netherlands, 14 July 2021, Neways (Euronext Amsterdam: NEWAY) and the Offeror – Reference is made to the joint press releases dated 24 June and 8 July 2021 in respect of the Offer to be made by the Offeror for all issued and outstanding ordinary shares in the capital of Neways at an offer price of EUR 14.55 in cash per share (cum dividend).
Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, requiring a public announcement including a status update regarding an intended public offer within four weeks following its announcement, the Offeror and Neways hereby provide this joint update on the Offer.
The Offeror and Neways confirm that they are making good progress on the preparations for the Offer. At the date of this press release, the Offeror will submit a request for review and approval of the Offer Memorandum in relation to the Offer to the AFM. In addition, Neways’ central works council (centrale ondernemingsraad) has rendered a positive advice on the decision of Neways’ management board and supervisory board to support the transaction and recommend the Offer.
Furthermore, with reference to Article 7, paragraph 4 of the Decree, the Offeror confirms it is able to fund the aggregate consideration of the Offer fully through readily available liquid assets and cash. The Offer values 100% of the issued and outstanding shares in the capital of Neways at approximately EUR 177.8 million. The Offeror and Neways anticipate that the Offer will close in the second half of 2021.
For more information:
Neways
Neways
Tel: + 31 (0) 40 2679201
Neways Electronics International N.V.
Postbus 69, 5690 AB SON
www.newayselectronics.com
Offeror
Hill+Knowlton Strategies
Ariën Stuijt
T: +31 20 404 4707
E: Arien.Stuijt@hkstrategies.com
About Neways
Neways is an international company active in the EMS (Electronic Manufacturing Services) market. Neways offers its clients custom-made solutions for the complete product life cycle (from product development to after-sales service) of both electronic components and complete (box-built) electronic control systems. Neways operates in a niche of the EMS market and focuses primarily on small to medium-sized specialist series, in which quality, flexibility and time-to-market play a crucial role. Neways products are used in sectors such as the Semiconductor, Medical, Automotive and Industrial. Neways has operating companies in the Netherlands, Germany, the Czech Republic, Slovakia, China and the United States, with a total of 2,598 employees at year-end 2020. Neways recorded net turnover of € 478.6 million in 2020. Neways shares are listed on the Euronext Amsterdam stock exchange (symbol: NEWAY).
About Infestos
Infestos is a sustainable investment firm focused on entrepreneurial and hands-on investment of family capital. Infestos was established in 1999 and consists of a team of experienced professionals with multidisciplinary skills. Infestos has extensive experience on the capital markets through its investments in Alfen, NX Filtration and ESG Core Investments. In addition to its investment portfolio, Infestos supports talent development in sports through TalentNED, sustainable renovation of monumental real estate and projects in the fields of education and healthcare through the Infestos Foundation.
Disclaimer
This is a joint public announcement by Infestos and Neways and contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
The information in this press release is not intended to be complete. This announcement is for information purposes only and does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.
The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, the Offeror and Neways disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither the Offeror, nor Neways, nor any of their advisers assumes any responsibility for any violation by any of these restrictions. Any Neways shareholder who is in any doubt as to his or her position should consult an appropriate professional adviser without delay.
Forward-looking statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Offeror’s or Neways’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of known and unknown risks, uncertainties and assumptions that could cause actual results, performance, achievements or events to differ materially from those expressed, anticipated or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, regulation, competition and technology, can cause actual events, performance, achievements or results to differ significantly from any anticipated or implied development. Each of the Offeror and Neways expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or projections, or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Offeror or Neways nor its advisers or representatives nor any of its affiliates or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the anticipated or implied developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
