01.06.2018
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and confirms it expects to complete the acquisition in the course of the second half of 2018
Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended all-cash offer by Thales for all the issued and outstanding shares of Gemalto (the Offer ) and the publication of the Offer Document. Terms not defined in the press release will have the meaning as set forth in the Offer Document.
In accordance with Dutch offer rules, and as set out in the Offer Document, Thales has decided to extend the Acceptance Period of the Offer by ten weeks until August 15Th, 17:40 hours CET (11:40 hours New York time).
The Acceptance Period has effectively been extended because the Offer Conditions for completion of the Offer, in particular with respect to Regulatory Clearances, will not be fulfilled before the expiry of the initial Acceptance Period at 17:40 hours CET (11:40 am New York time) on 6 June 2018.
As a reminder, Thales and Gemalto are seeking Regulatory Clearances from the competent antitrust authorities in Australia, in China, for the European Union, in Israel, in Mexico, in New Zealand, in Russia, in South Africa, in Turkey and in the United States. In addition to CFIUS approval in the United States, Thales and Gemalto are seeking Regulatory Clearances relating to foreign investments from the competent authorities in Australia, Canada and Russia.
As announced on 17 December 2017, it is expected that the transaction will be completed shortly after receipt by Thales of all Regulatory Clearances, in the course of the second half of the year 2018.
In accordance with the Offer Document, Thales will request an exemption from the Dutch authority for the financial markets (AFM) to further extend the Acceptance Period beyond 15 August 2018. Subject to receipt of such exemption, the Acceptance Period will be extended until such time as Thales, in consultation with Gemalto, will reasonably believe is necessary to allow the Offer Condition relating to the Regulatory Clearances to be satisfied.
Tendered Shares
During the extended Acceptance Period, Shares tendered may be withdrawn in accordance with the provisions of Article 15, paragraph 3 of the Decree and the procedures described in the Offer Document. Any Shares tendered during the initial Acceptance Period and which are not withdrawn will remain subject to the Offer.
****
This is a joint press release by Thales and Gemalto pursuant to Section 15, paragraph 2 of the Dutch decree on public takeover bids (Besluit openbare biedingen Wft) in connection with the recommended all-cash offer by Thales for all the issued and outstanding shares in the capital of Gemalto, including all American depositary shares. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Gemalto. Any offer is only made by means of the Offer Document, which is available as of 27 March 2018.
About Gemalto
Gemalto is the global leader in digital security, with 2017 annual revenues of 3 billion and customers in over 180 countries. We bring trust to an increasingly connected world.
From secure software to biometrics and encryption, our technologies and services enable businesses and governments to authenticate identities and protect data so they stay safe and enable services in personal devices, connected objects, the cloud and in between.
Gemalto's solutions are at the heart of modern life, from payment to enterprise security and the internet of things. We authenticate people, transactions and objects, encrypt data and create value for software - enabling our clients to deliver secure digital services for billions of individuals and things.
Our 15,000 employees operate out of 112 offices, 43 personalization and data centers, and 30 research and software development centers located in 48 countries.
www.gemalto.com
Notice to U.S. holders of Gemalto Shares
The Offer is made for the securities of Gemalto, a public limited liability company incorporated under Dutch Law, and is subject to Dutch disclosure and procedural requirements, which are different from those of the United States of America. The Offer is made in the United States of America in compliance with Section 14(e) of the U.S. Securities Exchange Act of 1934, as amended (the U.S. Exchange Act), and the applicable rules and regulations promulgated thereunder, including Regulation 14E (subject to any exemptions or relief therefrom, if applicable) and otherwise in accordance with the requirements of Dutch law. Accordingly, the Offer is subject to disclosure and other procedural requirements, including with respect to the Offer timetable, settlement procedures, withdrawal, waiver of conditions and timing of payments that are different from those applicable under U.S. domestic tender offer procedures and laws.
The receipt of cash pursuant to the Offer by a U.S. holder of Gemalto Shares may be a taxable transaction for U.S. federal income tax purposes and under applicable state and local, as well as foreign and other tax laws. Each holder of Gemalto shares is urged to consult his independent professional advisor immediately regarding the tax consequences of accepting the Offer.
To the extent permissible under applicable laws and regulations, including Rule 14e-5 under the U.S. Exchange Act, and in accordance with normal Dutch practice, Thales and its affiliates or its broker and its broker's affiliates (acting as agents or on behalf of Thales or its affiliates, as applicable) may from time to time after the date of the joint press release by Thales and Gemalto dated 17 December 2017, and other than pursuant to the Offer, directly or indir
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