Koninklijke Boskalis Westminster N.V. : Boskalis announces mandatory offer for Dockwise

Koninklijke Boskalis Westminster N.V. : Boskalis announces mandatory offer for

Papendrecht, 30 January 2013

With reference to the press release of 21 December 2012 in which Boskalis
announced its decision to make an all cash voluntary public offer for
Dockwise, Boskalis hereby announces that it has resolved to make a mandatory
offer for all the issued and outstanding ordinary shares of Dockwise (the
Shares) at a price of EUR 18.50 per Share cum dividend (the Offer). As per the
date of this announcement, the offer price per Share equals NOK 137. The Offer
is being made through Boskalis' wholly owned subsidiary Boskalis Holding B.V.

Today, Boskalis acquired 2,016,030 Shares. The Shares were purchased at an
average price of EUR 18.50 with a maximum price of EUR 18.50, which equals NOK

Boskalis now holds approximately 38.39% of the Shares, as a result of which
the mandatory offer obligation pursuant to Section 6-1 of the Norwegian
Securities Trading Act is triggered. Together with the irrevocable commitments
obtained by Boskalis in connection with the Offer, approximately 88.59% of the
Shares is already acquired by, or committed to, the Offer.

Boskalis has resolved all relevant outstanding conditions making the launch of
the mandatory offer possible. Boskalis has completed its due diligence of
Dockwise, successfully raised EUR 320 million equity and secured
EUR1.3billion of committed financing arrangements, progressed the relevant
antitrust filings and has obtained a positive advice from the relevant works

Determination mandatory offer price

The offer price will be determined in accordance with Section 6-10 of the
Norwegian Securities Trading Act. Boskalis did not acquire, nor agreed to
acquire, any Shares at a price exceeding EUR 18.50 (or, at any moment in time,
the NOK equivalent) during the six months period prior to today.


The voluntary offer document submitted to the regulators earlier will be
withdrawn. Boskalis will submit a request for approval of its mandatory offer
document (the Offer Document) to the Oslo Stock Exchange and the Netherlands
Authority for the Financial markets as soon as possible following this
announcement. The Offer Document is expected to be published and the Offer is
expected to commence in the week of 4 February 2013.


Investor Relations & Press:

Martijn L.D. Schuttevâer


T +31 78 6969310

F +31 78 6969020

This press release is issued by Royal Boskalis Westminster N.V. (Boskalis)
pursuant to the provisions of Article 5-12 of the Norwegian Securities Trading
Act (Verdipapirhandelloven) and Article 5:25i paragraph 2 of the Dutch Act on
Financial Supervision (Wet op het Financieel Toezicht) and Articles 4 and 13
of the Dutch Decree on Public Takeover Bids (Besluit openbare biedingen Wft)
in connection with its public offer for Dockwise Ltd. (Dockwise). This
announcement does not constitute an offer, or any solicitation of any offer,
to buy or subscribe for any securities. This announcement is not for release,
publication or distribution, in whole or in part, directly or indirectly, in
or into the United States of America, Canada, Australia or Japan.

Background information:
Dockwise Ltd., a Bermuda incorporated Company, has a workforce of more than
1,400 people both offshore and onshore. The Company is the leading marine
contractor providing total transport services to the offshore, onshore and
yachting industries as well as installation services of extremely heavy
offshore platforms. The Group is headquartered in Breda, the Netherlands. The
Group's main commercial offices are located in the Netherlands, the United
States and China with sales offices in Korea, Australia, Brazil, Russia,
Singapore, Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business
unit is headquartered in Fort Lauderdale and has an office in Italy. The
Dockwise Shipping network is supported by agents in Norway, Argentina and
Italy. To support all of its services to customers, the group also has three
additional engineering centers in Houston, Breda and Shanghai and operates a
fleet of 25 purpose built semisubmersible vessels (including Dockwise
Vanguard, Finesse and White Marlin). Dockwise shares are listed on the Oslo
Stock Exchange and on NYSE Euronext Amsterdam.
For further information: www.Dockwise.com

Royal Boskalis Westminster N.V. is a leading global services provider
operating in the dredging, maritime infrastructure and maritime services
sectors. The company provides creative and innovative all-round solutions to
infrastructural challenges in the maritime, coastal and delta regions of the
world with the construction and maintenance of ports and waterways, land
reclamation, coastal defense and riverbank protection. In addition, Boskalis
offers a wide variety of marine services and contracting for the offshore
energy sector including subsea, transport and heavy lift (through Boskalis
Offshore) and towage and salvage (through SMIT). It also has strategic
partnerships in the Middle East (Archirodon) and in terminal services (Smit
Lamnalco). With a versatile fleet of over 1,100 units Boskalis operates in
around 75 countries across six continents. Including its share in
partnerships, Boskalis has approximately 14,000 employees.

This press release can also be found on our website www.boskalis.com.

This announcement is for information purposes only and does not constitute an
offer or invitation to acquire or dispose of any securities nor an investment
advice nor an inducement to enter into investment activity. This announcement
does not constitute an offer to sell or issue, nor the solicitation of an
offer to buy or acquire the securities of Boskalis or Dockwise in any

The distribution of this press release may, in some countries, be restricted
by law or regulation. Accordingly, persons who come into possession of this
document should inform themselves of and observe these restrictions. To the
fullest extent permitted by applicable law, Boskalis disclaims any
responsibility or liability for the violation of any such restrictions by any
person. Any failure to comply with these restrictions may constitute a
violation of the securities laws of that jurisdiction. Neither Boskalis nor
any of its advisors assumes any responsibility for any violation by any person
of any of these restrictions. Any Dockwise shareholder who is in any doubt as
to his position should consult an appropriate professional advisor without
delay. This announcement is not to be published or distributed in or to
Canada, Japan, Australia and the United States of America.
pdf version press release


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(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Koninklijke Boskalis Westminster N.V. via Thomson Reuters ONE
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