DR 3 S.r.l. Announces Expiration of Subsequent Offering Period and Final Results for its Tender Offer for De Rigo Ordinary Share
20 September 2005 - 11:19PM
PR Newswire (US)
AMSTERDAM, Netherlands, Sept. 20 /PRNewswire-FirstCall/ -- De Rigo
Holding B.V. announced today that its wholly-owned subsidiary DR 3
S.r.l. had concluded its tender offer for any and all outstanding
ordinary shares and American Depositary Shares of De Rigo S.p.A.
(NYSE:DER). The previously announced subsequent offering period
expired at 5:00 p.m., New York City time, on Monday, September 19,
2005. De Rigo Holding is wholly owned by the De Rigo brothers, who,
prior to commencement of the offer, owned directly or indirectly
through De Rigo Holding, approximately 77.2% of the outstanding
ordinary shares and ADSs. De Rigo Holding has been advised by The
Bank of New York, the Tender Agent for the offer, that upon
expiration of the subsequent offering period, 189,214 ADSs had been
validly tendered during the subsequent offering period, bringing
the total to 7,969,496 ADSs and 400,000 Ordinary Shares of De Rigo
that had been validly tendered and not withdrawn pursuant to the
offer. Together with the ordinary shares and ADSs already owned by
the De Rigo brothers, the ordinary shares represented by tendered
ADSs and ordinary shares represent approximately 97% of De Rigo's
outstanding share capital. Based on the number of ADSs tendered, De
Rigo Holding believes that approximately 900,000 ADSs remain
outstanding following the tender offer. De Rigo Holding expects to
cause De Rigo to proceed with the intended application for
delisting of the ADSs from the New York Stock Exchange. Based on
its initial review of the final results of the tender offer, De
Rigo Holding also expects that it will be in a position to cause De
Rigo to proceed with the intended deregistration of the ordinary
shares and ADSs with the SEC. DATASOURCE: De Rigo Holding B.V.
CONTACT: Tom Long, +1-212-493-6920
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