Oct 15 2004
Hawkslease Finance Company Limited (HFCL) and EVC International N.V. (EVC) announce that HFCL, a company controlled by INEOS, intends to make a firm public offer for all ordinary shares in the capital of EVC with a nominal value of EUR 1 listed on the Official Market of Euronext Amsterdam (the EVC Shares).
The proposed offer price amounts to EUR 3.50 in cash for each ordinary EVC Share.
The offer proposal has been made to the Management Board and Supervisory Board of EVC. EVC and HFCL believe that the expectation is justified that agreement can be reached between EVC and HFCL on the terms and conditions of the intended offer. The Management Board and Supervisory Board of EVC have decided to unanimously and unconditionally recommend the proposed offer.
INEOS currently holds approximately 85.9% of all EVC Shares.
If the intended public offer is made, the honouring of such public offer will be subject to customary conditions, including at least 95% of the outstanding EVC Shares having been tendered.
It is expected that within 30 days an offer document will be published in the Netherlands which will include the further terms and conditions of the proposed offer.
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