Dutch Enterprise Chamber orders squeeze-out of Brainpower shares to Bloomberg

Source: Brainpower

Brainpower N.V., Claude Debussylaan 44, 1082 Amsterdam, The Netherlands (BPW; WKN 553169, ISIN NL 0000238228, Frankfurter Wertpapierbörse, Geregelter Markt, Prime Standard), has been informed by its majority shareholder Bloomberg L.P., New York, USA, that the Dutch Enterprise Chamber (Ondernemingskamer van het gerechtshof te Amsterdam) on Thursday, February 8, 2007 rendered the verdict in the squeeze-out proceedings against all remaining minority shareholder.

Ad hoc: The Dutch Enterprise Chamber sustained Bloomberg's request in the squeeze-out proceedings against of all remaining minority shareholders of Brainpower.

The Enterprise Chamber
  • ordered the minority shareholders to transfer the unencumbered rights to the shares in the capital of the company limited by shares Brainpower N.V., domiciled in Amsterdam, to Bloomberg;
  • fixed the price of the shares to be transferred per the date of the verdict for EUR 1.88 per share (i.e. equal to the price per share offered by Bloomberg in the public tender offer for Brainpower shares which expired on May 19, 2006);
  • determined that the price will be raised with the statutory interest per the date of the verdict until the transfer date or the date of consignment; and
  • ordered Bloomberg to pay the fixed price, with the statutory interest, to the minority shareholders against delivery of the unencumbered rights to the shares.

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