Liberty Global and Ziggo have announced that Liberty Global has declared its previously announced recommended public offer for all of Ziggo’s issued and outstanding ordinary shares unconditional.
All conditions to the offer were met as of the acceptance closing date. As of 17:40 hours CET on November 4, 2014, 134,441,541 shares, representing approximately 67.2% of the issued and outstanding shares, had been tendered bringing the total shares by Liberty Global to approximately 87.9%, which meets the minimum acceptance level condition to be 80% of the Shares and to be satisfied, as are all other conditions to the offer.
Ziggo shareholders who accepted the offer will receive €11.00 in cash, 0.2282 Liberty Global Class A ordinary shares and 0.5630 Liberty Global Class C ordinary shares for each share tendered in the Offer. Settlement for tendered Ziggo shares is on Tuesday, November 11, 2014. The remaining shares can be tendered in a post-closing Acceptance Period, commencing on Thursday, November 6, 2014 and ending on Wednesday, November 19, 2014.
On November 11, 2014, the appointments of Diederik Karsten, Ritchy Drost, Jim Ryan and Huub Willems as members of Ziggo’s supervisory board will become effective. All present members of the Supervisory Board will resign as of November 11, 2014, except for Rob Ruijter who will remain. Diederik Karsten
will become the chairman of the Supervisory Board.
Effective November 11, 2014, Baptiest Coopmans will be appointed as Ziggo’s CEO and René Obermann will resign as a member of Ziggo’s management board. As from the same date, Hendrik de Groot will resign as a member of the Management Board and will assume a senior management position in the new organisation. Bert Groenewegen will remain as CFO of Ziggo.
