06.07.2023 08:14:38
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GNW-Adhoc: UPDATE ON INTENDED ALL-CASH PUBLIC OFFER BY MICROTEST FOR ALL ROODMICROTEC SHARES
^This is a joint press release by RoodMicrotec N.V. ("RoodMicrotec" and, together
with its subsidiaries, the "RoodMicrotec Group") and Microtest S.p.A.
("Microtest"), an entity incorporated under Italian law, controlled by Seven
Holding 3 S. à r.l., a wholly owned subsidiary of the private equity fund Xenon
(as defined below), pursuant to the provisions of Section 7 Paragraph 1 sub a of
the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft) (the
"Decree") in connection with the announced proposed recommended all-cash public
offer by Microtest for all the issued and outstanding ordinary shares (the
"Shares") in the capital of RoodMicrotec (the "Offer").
This press release does not constitute an offer, or any solicitation of any
offer, to buy or subscribe for any securities. Any offer will be made only by
means of an offer memorandum (the "Offer Memorandum") approved by the Dutch
Authority for the Financial Markets (Autoriteit Financiële Markten) (the "AFM").
With reference to the joint press release by RoodMicrotec and Microtest dated
13 June 2023, (i) the commencement of the Offer is subject to the satisfaction
or waiver of the commencement conditions and (ii) if and when made, the Offer is
subject to the satisfaction or waiver of the offer conditions, all in accordance
with the terms of the merger protocol entered into between RoodMicrotec and
Microtest. This press release is not for release, publication or distribution,
in whole or in part, in or into, directly or indirectly, the United States,
Canada and Japan or in any other jurisdiction in which such release, publication
or distribution would be unlawful.
UPDATE ON INTENDED ALL-CASH PUBLIC OFFER BY MICROTEST FOR ALL ROODMICROTEC
SHARES
Vicopisano, Italy / Deventer, the Netherlands - 6 July 2023
Reference is made to the joint press release by Microtest and RoodMicrotec dated
13 June 2023 in respect of the conditional agreement on the Offer at an offer
price of EUR 0.35 (cum dividend) per issued and outstanding ordinary share in
the capital of RoodMicrotec.
Microtest and RoodMicrotec hereby provide a joint update on the Offer in
accordance with the provisions of Section 7, paragraph 1 sub a of the Decree,
which require a public announcement including a status update regarding an
intended public offer within four weeks following its initial announcement.
Microtest and RoodMicrotec confirm that they are making good progress on the
preparations for the Offer. A request for review and approval of the Offer
Memorandum in relation to the Offer will be submitted to the AFM during the
course of this week.
For more information:
Huijskens Sassen Communications
Clemens Sassen
+31 6 46 11 11 89
clemens@hscomms.nl (mailto:clemens@hscomms.nl)
About RoodMicrotec
With more than 50 years of experience in the semiconductor and electronics
industry, RoodMicrotec is a leading independent company for semiconductor supply
and quality services. RoodMicrotec is a highly valued partner for many companies
worldwide and offers specifically tailored turnkey solutions for each single
customer's requirements. The turnkey services include project management, wafer
test, assembly, final test, qualification, failure analysis, and logistics. All
services provided by RoodMicrotec meet the high quality standards of the
automotive, industrial, healthcare, and high reliability aerospace sectors.
RoodMicrotec is headquartered in Deventer, Netherlands, with operational units
in Nördlingen and Stuttgart, Germany.
For more information, please visit https://www.roodmicrotec.com.
About Microtest
Microtest is a well-reputed player both in designing and manufacturing automated
test equipment and in providing testing services. It is an entity incorporated
under Italian law, controlled by Seven Holding 3 S.à r.l., a wholly owned
subsidiary of the private equity fund Xenon, a leading mid-cap private equity
fund with 33+ years of experience and 175+ investments ("Xenon").
The current CEOs, Giuseppe Amelio and Moreno Lupi, have been leading Microtest
since its foundation in 1999 in Altopascio (Lucca). Over time, Microtest has
become a technological partner of some of the world's leading microchip
manufacturers, skilled in developing innovative solutions, thanks to a solid
engineering team and good production flexibility. In 2004, Microtest started
designing and producing Automatic Test Equipment (the systems used in the
semiconductor industry for electronic components and wafter testing) for several
applications such as avionics and cars' electronic modules, radar and wireless
communications for defence and medical devices. A few years later, Microtest
broadened its scope by also offering "test house" services, furthermore enhanced
with a direct presence in the Far East following the opening of a subsidiary in
Malaysia in 2018. In April 2022, Xenon acquired a majority stake in Microtest,
spurring its international expansion strategy. Microtest reached more than 30
million in revenues in 2022, with an Ebitda margin above 38%. Microtest
commercial network and customer service are spread over the US, Europe, and
Asia. In 2023 Microtest acquired Test Inspire, a highly innovative Dutch company
focused on Automatic Testing Equipment.
For more information, please visit https://www.microtest.net.
Disclaimer
The distribution of this press release may, in some countries, be restricted by
law or regulation. Accordingly, persons who come into possession of this
document should inform themselves of and observe these restrictions. To the
fullest extent permitted by applicable law, RoodMicrotec, Microtest and Xenon
disclaim any responsibility or liability for the violation of any such
restrictions by any person. Any failure to comply with these restrictions may
constitute a violation of the securities laws of that jurisdiction. Neither
RoodMicrotec, nor Microtest nor Xenon, nor any of their advisors, assumes any
responsibility for any violation of any of these restrictions. Any RoodMicrotec
shareholder who is in any doubt as to his or her position should consult an
appropriate professional advisor without delay. This announcement is not to be
published or distributed in or to the United States, Canada or Japan.
The information in the press release is not intended to be complete. This
announcement is for information purposes only and does not constitute an offer
or an invitation to acquire or dispose of any securities or investment advice or
an inducement to enter into investment activity. This announcement does not
constitute an offer to sell or the solicitation of an offer to buy or acquire
the securities of RoodMicrotec in any jurisdiction.
Forward Looking Statements
Certain statements in this press release may be considered "forward-looking
statements," such as statements relating to the targeted timeline for the Offer.
Forward-looking statements include those preceded by, followed by or that
include the words "anticipated," "expected" or similar expressions. These
forward-looking statements speak only as of the date of this release. Although
RoodMicrotec, Microtest and Xenon believe that the assumptions upon which their
respective financial information and their respective forward-looking statements
are based are reasonable, they can give no assurance that these forward-looking
statements will prove to be correct. Forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results to differ
materially from historical experience or from future results expressed or
implied by such forward-looking statements. Potential risks and uncertainties
include, but are not limited to, receipt of regulatory approvals without
unexpected delays or conditions, Microtest's ability to successfully operate
RoodMicrotec without disruption to its other business activities, Microtest's
ability to achieve the anticipated results from the acquisition of RoodMicrotec,
the effects of competition, economic conditions in the global markets in which
RoodMicrotec operates, and other factors that can be found in RoodMicrotec's,
Microtest's and/or Xenon's press releases and public filings.
Neither RoodMicrotec, Microtest nor Xenon, nor any of their advisors, accepts
any responsibility for any financial information contained in this press release
relating to the business, results of operations or financial condition of the
other or their respective groups. Each of RoodMicrotec, Microtest and Xenon
expressly disclaims any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
°
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