Brief: Recticel Says Greiner Bid Doesn't Address Stakeholders Interests

Recticel SA

07/10/2021 14:01

Oct 7 (Reuters) - RECTICEL NV  RECT.BR :
    * SAID ON WEDNESDAY IT ACKNOWLEDGED FSMA APPROVAL OF GREINER
PROSPECTUS IN RELATION TO ITS UNSOLICITED VOLUNTARY PUBLIC
TAKEOVER BID ON THE OUTSTANDING SHARES OF RECTICEL FOR EUR 13.50
PER SHARE IN CASH 
    * GREINER BID DOES NOT ADDRESS POSITION AND LEGITIMATE
INTERESTS
OF ALL STAKEHOLDERS AND SUBSTANTIALLY UNDERVALUES RECTICEL
    * HAS RECEIVED FAIRNESS OPINION LETTER OF KBC SECURITIES
STATING
THAT ANNOUNCED BID PRICE IS NOT FAIR TO SHAREHOLDERS OF RECTICEL
FROM FINANCIAL POINT OF VIEW 
    * CONTINUES TO ACTIVELY REVIEW ITS STRATEGIC ALTERNATIVES
TAKING
INTO ACCOUNT INTEREST OF ALL STAKEHOLDERS 
    * BOARD OF DIRECTORS WILL REVIEW APPROVED PROSPECTUS AND
REACT
WITH RESPONSE MEMORANDUM WITHIN APPROPRIATE TIME FRAME 

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