Wessanen announces an offering of new ordinary shares

Utrecht, 8 March 2010


Wessanen announces an offering of new ordinary shares
* Royal Wessanen N.V. (“Wessanen” or the “Company”) today announces the launch of an equity offering (the “Offering”) of up to 6,835,910 newly issued ordinary shares (the “Shares”), representing up to 9.99% of the Company's outstanding share capital
* The Offering will be executed by way of an accelerated bookbuild offering launched immediately. The book is expected to close on 9 March 2010
* The Shares will be offered to institutional and other qualified investors in the Netherlands and abroad, on a non pre-emptive basis
* The Company will use the net proceeds of the Offering to strengthen its balance sheet, thereby providing financial flexibility to carry out its strategic and operational plans. The Company and its management have agreed with the Global Coordinator on a lock-up of 180 days following completion of the Offering
* The final terms of the Offering, including the final offer price and number of Shares to be issued, will be announced after closing of the book.

The Offering Fortis Bank Nederland is acting as Sole Global Coordinator and Sole Bookrunner for the Offering. The placing price and the exact number of Shares placed in the Offering will be determined on the outcome of an accelerated bookbuild process and will be announced in a subsequent press release. The book will open with immediate effect and the closing of the book is expected tomorrow at 17h30 CET, subject to acceleration or extension. Application for listing and admission to trading of the Shares on Euronext Amsterdam by NYSE Euronext will be made. It is currently expected that settlement of the Offering will take place on 12 March 2010.

Use of proceeds Wessanen will use the net proceeds of the Offering to strengthen its balance sheet, thereby providing financial flexibility to carry out its strategic and operational plans. Such flexibility is desired regarding the timing of the planned divestment of US based PANOS Brands and the amount and phasing of advertising and promotional spending during the year.

For more information, please download the complete press release in pdf.
100308_Press_release_equity_offering.pdf (39 Kb)

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