Gemalto clarifies Wavecom offer

Source: Gemalto

Gemalto (Euronext NL0000400653 - GTO) the world leader in digital security, today announces a modification of the terms of its offer to the holders of Wavecom OCEANEs, in order to clarify its offer.

Each Wavecom OCEANE is now valued at €31.30, plus the accrued but unpaid interest thereon, i.e. the price that the holders of Wavecom OCEANEs can also obtain directly from Wavecom upon redemption of their OCEANEs in case of change of control, in accordance with the change of control provision of the terms and conditions of the OCEANEs.

In case of successful completion of the offer where Gemalto holds at least 50.01% of the Wavecom shares, Gemalto intends to request from Wavecom the early redemption of the OCEANEs it will have received, under the same conditions of €31.30 plus the accrued but unpaid interest thereon, in accordance with the change of control provision of the terms and conditions of the OCEANEs. OCEANEs not tendered in the offer would still be redeemable, in accordance with their terms, at this same price, by Wavecom.

In case the offer is not successfully completed, the Wavecom OCEANEs tendered in Gemalto's offer will be returned to their holders.

The offer for Wavecom shares, which values each Wavecom share at €7, is maintained unchanged.

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