Reference is made to the joint press release dated 25 February 2019 by CACEIS and KAS BANK in respect of the conditional agreement on a recommended public offer in cash (the "Offer") to be made by CACEIS for all Securities of KAS BANK for EUR 12.75 per Security on a "cum dividend" basis (the "Offer Price"), which values KAS BANK at EUR 188 million.
25 Mar 2019
CACEIS and KAS BANK confirm that they are making good progress on the preparation of the Offer. CACEIS expects to submit a request for review and approval of the offer document in relation to the Offer with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) ultimately on 20 May 2019. In addition, CACEIS and KAS BANK confirm that the process to obtain the required competition clearance and declarations of no-objections from the European Central Bank and the Dutch Central Bank is ongoing.
The managing board and supervisory board of KAS BANK unanimously support and recommend the Offer and each of the members of the managing board of KAS BANK has committed to tender all the Securities he can freely tender under the Offer in accordance with the terms and conditions of the Offer, subject to the Offer being launched in accordance with the merger protocol. The members of the managing board have not received any information relevant for shareholders other than is envisaged to be disclosed in the offer document.