MACKINTOSH APPROVES BRANTANO
[BIZ: Maastricht, November, 16] Macintosh Retail Group offers EUR 55.00 per share. Furthermore, it offers EUR 17.30 for each of the 33,000 share options outstanding under the 2004 share option plan (exercise price: EUR 42.45) and EUR 15.70 for each of the 12,500 share options under the 2005 plan (exercise price: EUR 46.99). Brantano’s Board of Directors considers the offer to be friendly and will formulate its position in respect of the public offer in detail in the reply it is obliged to issue by virtue of Section 22 of the Belgian Takeover Bids Act of April 1, 2007. For further information, please contact Mr P.T.A. Hünen on +31 (0)43 – 3280725, or e-mail: p.hunen@macintosh.nl.
At their General Shareholders’ Meeting, the Macintosh Retail Group approved the proposed voluntary public offer for the entire share capital of Brantano NV, listed on the Euronext Brussels stock exchange. Brantano currently operates 275 shoe stores, mainly in Belgium and the United Kingdom, with revenues of approximately EUR 300m. The proposal was approved unanimously, during a meeting at which 55% of the total number of shareholders entitled to vote were present. At the meeting, the Managing Board provided details on the key arguments in favor of the acquisition, Brantano’s growth potential and the added value of collaboration between Brantano and Macintosh Retail Group. The presentation can be found on the English version of www.macintosh.nl under “Take over Brantano”.
Macintosh Retail Group has submitted a formal notification of its offer, together with a draft prospectus to the Banking, Finance and Insurance Commission (CBFA), the Belgian financial supervisory authority.
Macintosh Retail Group has reached an agreement with Brantano’s major shareholders (Mitiska NV and Sobradis NV), which jointly represent over 56% of the shares, under which these shareholders have irrevocably and unconditionally undertaken to tender their shares against the offer price of EUR 55.00.
http://www.macintosh.nl/