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Squeeze-out Judgement

20.06.2012 08:10

On 19 July 2011, New World Resources Plc (‘NWR Plc’) and New World Resources N.V. (“NWR NV”) announced that NWR Plc had initiated a compulsory squeeze-out procedure at the Enterprise Chamber of the Amsterdam court of Appeals (the “Enterprise Chamber”) in accordance with Dutch law under which NWR Plc intends to acquire all remaining outstanding A shares in NWR NV (the “Shares”). Yesterday, 19 June 2012, the Enterprise Chamber rendered a judgment in these squeeze-out proceedings in which it ordered the present holders of the Shares to transfer their Shares to NWR Plc for a price of EUR 3.96 per Share. This price is based on the closing price per A share of NWR Plc on the Prague Stock Exchange on 18 June 2012 (CZK 101.00). The price is to be increased with statutory interest as of 19 June 2012 until the date of transfer of the Shares to NWR Plc. Any dividends becoming payable on the Shares after 18 June 2012 shall serve as a partial payment of the purchase price.

NWR Plc intends to proceed with the payment of the purchase price to and acquisition of the Shares from the remaining shareholders after the period of appeal of three months has lapsed on 19 September 2012. Payment and transfer will take place after said date, provided that no appeals have been filed.

Subject to the conditions set out above, NWR Plc will set a date for the payment of the purchase price to and acquisition of the Shares from the remaining shareholders after 19 September 2012 i.e. after the appeal period of three months has lapsed. NWR Plc intends to issue a press release after said date in which the transfer date will be published and in which the details necessary for the transfer of the Shares will be set out.

Squeeze-out Judgement

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