AMSTERDAM — Because the Board of Management and the Supervisory Board (together the Boards) of Draka Holding N.V. (Draka) are of the opinion that confidentiality might no longer be safeguarded and believe there might be a high risk of leaks that would trigger market speculation, the Boards hereby inform that they have entered into discussions with Prysmian SPA (Prysmian) in order to evaluate, also with the assistance of its advisors, a possible combination between the two companies, to be implemented through a share for share cross-border statutory merger with Prysmian as surviving entity. Any such combination would be in the interest of all stakeholders, including the shareholders of both companies, and is likely to be largely based on their respective market capitalisations.
The discussions are at a preliminary phase and any proposed transaction will be submitted to the respective Boards for approval only if, and when, the main elements of the combination will be sufficiently defined. Furthermore, any proposed transaction would be subject to several conditions, including shareholders' approval, financing and employee consultation procedures.
At this stage there is no assurance that a transaction of any kind will take place.
Further announcements will be made if and when required.
This is an announcement in accordance with Section 5:59 paragraph 1 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).
Source: Draka.