This is an announcement by Royal Boskalis Westminster nv, as referred to in Section 5:59 paragraph 1 of the Dutch Financial Supervision Act (Wet op het Financieel Toezicht) and Section 7 paragraph 1 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft).This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Smit.
10 October 2008
Following the public announcement dated 15 September 2008 Royal Boskalis Westminster nv ("Boskalis") hereby confirms its intention to make a public offer (the "Offer") for all the issued and outstanding ordinary shares in the issued share capital of Smit Internationale nv ("Smit").
Boskalis believes that the proposed transaction provides ample prospects for further development and growth of the combined businesses. Therefore, Boskalis will continue to pursue a transaction that is fully supported and recommended by the Board of Directors and Board of Supervisory Directors of Smit.
In the coming weeks, Boskalis will further analyse and evaluate all aspects of the transaction - including the developments on the markets on which Smit is active and the developments on the stock markets - with a view to determining the final content and structure of the Offer.
On the basis of Section 7 paragraph 3 of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft), Boskalis hereby confirms that it will, prior to 8 December 2008, submit a request for approval of the offering memorandum to the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten). Ultimately on that date, Boskalis will also make public the conditions for the making and declaring wholly unconditional of the Offer.
This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.
Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.
For further information please contact:
Director Investor Relations & Corporate Communications
Telephone: +31 78 69 69 822 / +31 62 00 10 232
Fax: +31 78 69 69 020
This press release can also be found on our website www.boskalis.com.
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