Announcement equity offering of up to 1,946,088 bearer depository receipts of new ordinary shares

20 May 2015, 15:41

Highlights

  • Heijmans N.V. (“Heijmans” or the “Company”) announces the launch of an Equity Offering (the “Offering”) of up to 1,946,088 bearer depository receipts of new ordinary shares (the “Shares”).
  • The Equity Offering represents less than 10% of current outstanding shares.
  • Virtually all proceeds of this Equity Offering will be used to acquire and withdraw financing preference shares B.

Heijmans announces the launch of an Equity Offering of a maximum of 1,946,088 Shares via a so-called accelerated bookbuild offering to institutional and other qualified investors in the Netherlands and in certain other jurisdictions exclusive of preemptive right. The equity offering represents less than 10% of the currently outstanding Shares.

In the spring of 2014 agreements with holders of financing preference shares were renewed. Next to a coupon of 7.9% for the period up till the end of 2018, it has been agreed upon that Heijmans can acquire a minimum of € 20 million and maximum of € 26.5 million (40% of the € 66 million of outstanding cumulative preference shares) up to and including 31 December 2015 without penalty interest. Considering the volume of preference share capital within the capital structure, as well as the coupon value, Heijmans intends to use the proceeds to acquire a minimum of € 20 million financing preference shares. Remaining revenues proceeds will be used for generic company purposes.

The issue price and final number of Shares to be issued will be determined at the conclusion of the Equity Offering and will be announced through a subsequent press release. Books open with immediate effect, settlement of the Offering is expected to take place on 26 May 2015. The admittance of the Shares to listing and trading on Euronext in Amsterdam is expected to take place on this date.

Under the terms of the offering, there will be a 180-day lock-up period following the settlement date for the company on issuances or sales of shares and securities that give the holder the right to acquire shares. The lock-up does not apply to the issuance of cumulative preference shares or preference shares.

ING is Sole Global Coordinator and Sole Bookrunner for the offering.