Grupo Dragados declares public offer for HBG unconditional

9 April 2002 21:45 - Royal BAM Group nv

Not for release, publication or distribution, in whole or in part, in or into, the UK, the US, Canada, Australia or Japan.

Press release of Grupo Dragados and HBG

Madrid / Rijswijk – With reference to the advertisements dated 15 and 16 March 2002 and the offer document dated 18 March 2002 [the 'Offer Document'] Grupo Dragados, S.A. ['Dragados'] and Hollandsche Beton Groep nv ['HBG'] jointly announce that Dragados declares the public offer for all outstanding ordinary shares in HBG [the 'Offer'] unconditional.

Upon the end of the acceptance period on 10 April 2002, 15.00 hours Dutch time, 35.182.968 ordinary shares in the share capital of HBG ['Shares'] have been tendered for acceptance. Upon acquisition of the tendered Shares Dragados will in total hold approximately 98.9 % of the Shares held by other parties than HBG.

Holders of Shares will be able to tender for acceptance Shares, which not have already been tendered for acceptance, until ultimately 25 April 2002, 15.00 hours Dutch time on the same manner and under the same conditions as mentioned in the Offer Document and the advertisements dated 15 and 16 March 2002.

On 17 April 2002 payment of EUR 21.25 for each tendered and settled Share will be made in accordance with the conditions mentioned in the Offer Document. On 29 April 2002 payment of EUR 21.25 for each tendered and settled Share during the extension of the acceptance period will be made in accordance with the conditions mentioned in the Offer Document.

Press enquiries

Grupo Dragados:

HBG:

  • Arno Pronk, Manager Public Relations, +31 70 372 2121, apronk@hbg.nl

Restr​ictions

The distribution of the Offer Document and/or the making of the Offer may, in certain jurisdictions [including, but not limited to, the United Kingdom, the United States of America, Canada, Australia and Japan], be restricted by law. Therefore, persons obtaining the Offer Document or into whose possession the Offer Document otherwise comes, are required to, and should, inform themselves of and observe all such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Grupo Dragados and HBG do not accept or assume any responsibility or liability for any such violation by any person whomsoever of any such restriction.