Business News

Canon completes voluntary reopening of public takeover bid for I.R.I.S. Group SA

Monday 10. June 2013 - Squeeze-out process to be launched

Reference is made to the joint press release of Canon and I.R.I.S. Group SA of 7 May 2013 announcing that Canon was voluntarily reopening its public takeover bid for all shares, warrants and stock options of I.R.I.S. Group SA.
Canon, world-leader in imaging solutions, via its subsidiary Canon Europa N.V., confirms that, following the conclusion on 30 May 2013 of the voluntary reopening of its public bid for Belgium-based company, I.R.I.S. Group, it now holds 1,790,014 shares, or 95.16% of the shares subject to the bid, and 95.98% of the shares of I.R.I.S. Group.
Squeeze-out process to begin
Canon is now launching a squeeze-out process, under the same conditions, for all securities with voting rights or giving access to voting rights which are not yet in its possession. The squeeze out will start on 5 June 2013 and will close on 25 June 2013.
The price per share remains at EUR 44.50, and the price for the different warrants and stock options is mentioned in the prospectus. Full details of the Canon bid are covered in the offer prospectus, the supplement to the prospectus, and the memorandum in reply prepared by the board of directors of I.R.I.S. Group that are published on the website of I.R.I.S. Group (www.iriscorporate.com) and of ING Belgium (www.ing.be). The prospectus and the supplement to the prospectus can also be sent without charge upon request by telephone from ING Belgium SA/NV at +32 2 464 60 02 (French) or at +32 2 464 60 04 (English).
The prospectus and the supplement to the prospectus, which have both been approved by the FSMA, are also available on the FSMA website at: http://www.fsma.be/fr/Supervision/fm/oa/ooa/ProspectusOPA.aspx.
At the end of the squeeze-out period, any shares not yet acquired by Canon would be deemed legally transferred to Canon and the funds corresponding to the bid price for the shares, the warrants and the stock options shall be deposited with the Deposit and Consignation Office in favour of the former holders of the relevant Securities. The shares would be automatically delisted from the NYSE/Euronext Brussels.