Velcro Industries N.V. Announces Completion of Tender Offer
07 November 2007 - 12:02AM
PR Newswire (US)
CURACAO, Netherlands Antilles, Nov. 6 /PRNewswire-FirstCall/ --
Velcro Industries N.V. (the "Company") (NASDAQ:VELC), holding
company for the Velcro companies and the industry leader in hook
and loop fasteners, today announced the completion of its cash
tender offer to purchase all outstanding shares of its common
stock. The tender offer expired at 5:00 p.m., New York City time,
on Monday, November 5, 2007. The Company has been advised by
Computershare Investor Services Inc., the depositary for the tender
offer, that 2,572,437 shares were validly tendered as of 5:00 p.m.,
New York City time, on Monday, November 5, 2007 (including 87,573
shares tendered by notice of guaranteed delivery). All shares of
Company common stock that were validly tendered and not properly
withdrawn before the expiration of the offer have been accepted for
payment. After giving effect to the purchase of validly tendered
shares, approximately 1,185,000 shares, representing less than 5%
of the Company's outstanding common stock, will be held by
shareholders other than the Company's majority shareholder. About
Velcro Industries N.V. Velcro Industries N.V. (NASDAQ:VELC) is
incorporated and domiciled in Curacao, Netherlands Antilles as a
Naamloze Vennootschap (public limited liability company) and acts
as the holding company of the Velcro companies, which are primarily
involved in the manufacturing and sales of VELCRO(R) and TEXACRO(R)
brand fasteners, ULTRA-MATE(R) brand hook fasteners, and
ONE-WRAP(R) brand straps throughout the world. DATASOURCE: Velcro
Industries N.V. CONTACT: MacKenzie Partners for Velcro Industries
N.V., +1-212-929-5500
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