Thales and Gemalto on Thursday announced that Thales has decided to waive the Offer Condition with respect to the antitrust and foreign investment Regulatory Clearances in Russia.
Since all other Regulatory Clearances have been obtained, namely the antitrust clearances in Australia, China, the European Union, Israel, Mexico, New Zealand, South Africa, Turkey, and the United States, and clearances relating to foreign investments in Australia, Canada and the United States (CFIUS), the Offer Condition with respect to Regulatory Clearances has now been fulfilled.
In accordance with the dispensation (ontheffing) granted by the AFM on 9 August 2018 and the joint press release of Thales and Gemalto dated 10 August 2018, Gemalto shareholders have now 2 full weeks to tender their shares to the Thales offer.
The Acceptance Period shall end at 17:40 CET on Thursday 28 March 2019 (the Acceptance Closing Time).
Acceptance by holders of Ordinary Shares
Shareholders who hold their Ordinary Shares through an Admitted Institution must make their acceptance known via their custodian, bank or stockbroker prior 17:40 CET, on Thursday 28 March 2019. Custodians, banks or stockbrokers may set an earlier deadline for communication by Shareholders in order to permit the custodian, bank or stockbroker to communicate acceptances to ING Bank N.V. (the Settlement Agent) in a timely manner.
Admitted Institutions may tender Ordinary Shares for acceptance only to the Settlement Agent and only in writing.
In submitting the acceptance, the Admitted Institutions are required to declare that (i) they have the Tendered Ordinary Shares in their administration, (ii) each Shareholder who accepts the Offer irrevocably represents and warrants that the Tendered Ordinary Shares are being tendered in compliance with the restrictions as set out in Section 2 (Restrictions) and Section 3 (Important Information) of the Offer Document and the securities and other applicable laws and/or regulations of the jurisdiction(s) to which such Shareholder is subject, and no registration, approval or filing with any regulatory authority of such jurisdiction is required in connection with the Tendered Ordinary Shares, and (iii) they undertake to transfer (leveren) these Tendered Ordinary Shares to Thales prior to or on the Settlement Date, provided Thales declares the Offer unconditional (gestand wordt gedaan).
Acceptance by holders of Ordinary Shares individually recorded in Gemalto’s shareholders’ register
Shareholders individually recorded in Gemalto’s shareholders’ register (Registered Holders) wishing to accept the Offer in respect of such Shares must deliver a completed and signed acceptance form to the Settlement Agent in accordance with the terms and conditions of the Offer, no later than 17:40 CET on Thursday 28 March 2019.
The acceptance forms are available upon request from the Settlement Agent. The acceptance form will also serve as a deed of transfer (akte van levering) with respect to the Shares referenced therein.
Acceptance by holders of American Depositary Shares
Holders of ADSs in registered form, either in American Depositary Receipt (ADR) form or in uncertificated form through the Direct Registration System (a system administered by the DTC pursuant to which Deutsche Bank Trust Company Americas, as the depositary for the ADSs (the U.S. Depositary), may register the ownership of uncertificated ADSs in its books), may accept the Offer and tender ADSs to American Stock Transfer & Trust Co., LLC (the ADS Tender Agent) by delivering to the ADS Tender Agent a properly completed and duly executed ADS Letter of Transmittal, with any applicable signature guarantees from an Eligible Institution, together with the American Depositary Receipts representing the ADSs specified on the face of the ADS Letter of Transmittal, if applicable, prior to the Acceptance Closing Time.
The ADS Letter of Transmittal and other associated forms are available upon request from the ADS Tender Agent and/or the U.S. Information Agent for ADSs. Properly completed and duly executed ADS Letters of Transmittal, together with the corresponding ADRs, if applicable, should only be sent to the ADS Tender Agent and should not be sent to Thales, the U.S. Depositary, the U.S. Information Agent for ADSs or the Settlement Agent. Properly completed and duly executed ADS Letters of Transmittal, together with the corresponding ADRs, if applicable, (or, if a Shareholder is tendering pursuant to the guaranteed delivery procedures set forth herein, the properly-completed notice of guaranteed delivery) must be received by the ADS Tender Agent prior to the Acceptance Closing Time.
The method of delivery of ADS Letters of Transmittal and, if applicable, ADRs, and all other required documents (including delivery through DTC), is at the ADS holder’s option and risk, and the risk of loss of such ADSs and, if applicable, ADRs and other documents shall pass only after the ADS Tender Agent has actually received the ADSs or, if applicable, ADRs and other documents (including, in the case of a book-entry transfer, by book-entry confirmation).
If delivery is by mail, registered mail with return receipt requested, properly insured, is recommended.
In all cases, an ADS holder should allow sufficient time to ensure timely delivery. No acknowledgement of receipt of documents will be given by or on behalf of Thales, or the ADS Tender Agent.
Shareholders holding ADSs in book-entry form, all of which are held through the facilities of DTC, must instruct the financial intermediary through which such Shareholder owns its, his or her ADSs to arrange for the DTC participant holding the ADSs in its DTC account to tender such ADSs to the DTC account of the ADS Tender Agent through the book-entry transfer facilities of DTC and DTC will then edit and verify the acceptance and send an Agent’s Message to the ADS Tender Agent for its acceptance. DTC has informed Thales that it can only cut off book-entry tenders of ADSs at the end of a business day, New York time, and Thales has agreed that it will accept valid book-entry tenders of ADSs up until 5:00 pm, New York time, on the Acceptance Closing Date, and the Agent’s Message and any other required documents must be transmitted to, and received by, the ADS Tender Agent before such time.
Financial intermediaries may set an earlier deadline for communication by holders of ADSs in order to permit the financial intermediary to communicate acceptances to the ADS Tender Agent in a timely manner. Accordingly, Shareholders holding ADSs through a financial intermediary should contact such financial intermediary to obtain information about the deadline by which such Shareholders must send instructions to the financial institution to accept the Offer and should comply with the dates set by such financial intermediary.
Tendered Shares
Any Shares tendered prior to 10 August 2018 which are not withdrawn will remain subject to the Offer.
Post-Closing Acceptance Period
If the Offer is declared unconditional (gestand wordt gedaan), Thales will announce, in accordance with article 17 of the Decree, a post-closing acceptance period (na-aanmeldingstermijn) to enable Shareholders that did not tender their Shares during the Acceptance Period to tender their Shares under the same terms and conditions applicable to the Offer.
The Post-Closing Acceptance Period will commence on the 1st (first) Dutch Business Day following the date on which the Post-Closing Acceptance Period is announced, will last no less than 5 (five) U.S. Business Days and may be up to 2 (two) weeks in length.
Further information
This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Document and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Document and the Position Statement.
