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Dockwise Ltd: Settlement completed by Boskalis and squeeze-out initiated of shares in Dockwise

Dockwise Ltd: Settlement completed by Boskalis and squeeze-out initiated of 
shares in Dockwise 
BREDA, NORWAY -- (Marketwire) -- 03/20/13 --  This press release is
issued by Royal Boskalis Westminster N.V. (Boskalis) and Dockwise
Ltd. (Dockwise) pursuant to the provisions of Article 5-12 of the
Norwegian Securities Trading Act (Verdipapirhandelloven), Article
5:25i paragraph 2 of the Dutch Act on Financial Supervision (Wet op
het Financieel
Toezicht) and Article 4 of the Dutch Decree on Public
Takeover Bids (Besluit
openbare biedingen Wft) in connection with its
public offer for 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
Canada or Japan. Terms not defined in this press release will have
the meaning as set forth in the offer document of 8 February 2013 (the
Offer Document). 
Reference is made to the Offer Document and the press release of 8
February 2013 in which Boskalis Holding B.V. (the Offeror), a
wholly-owned subsidiary of Boskalis, launched a mandatory cash offer
for all issued and outstanding ordinary shares of Dockwise (the
Shares) at an offer price of EUR 18.50 / NOK
137.65 per Share cum
dividend (the Offer). 
In the Offer, the Offeror received acceptances for a total of
22,675,948 Shares,
amounting in aggregate to 57.20% of the total
number of Shares. Settlement of
payment and transfer of such Shares
has been completed today. Together with the
16,722,812 Shares that
were already held by the Offeror prior to the Offer, the
Offeror now
holds 99.39% of the total number of Shares. 
In addition, the Offeror has also acquired the Preference Shares held
by HAL
Investments B.V. in accordance with Section 7.2. of the Offer
Document. 
Further, the Offeror has today initiated a statutory squeeze-out
procedure under
Section 103 of the Bermuda Companies Act, which may be
invoked by shareholders
holding not less than 95% of the shares in a
company by giving notice to the
remaining shareholders of the
intention to acquire their shares on the terms set out in the notice.
Such notice has been submitted to the remaining shareholders
today.
The price offered in the squeeze-out is the same as the offer price
in
the Offer. 
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 through the
construction and
maintenance of ports and waterways, land reclamation, coastal
defense
and riverbank protection. In addition Boskalis executes projects
and
offers a wide variety of marine services for the offshore energy
sector including subsea, transport, heavy lift and installation
services (carried out
by Boskalis Offshore) and performs towage
services and marine salvage work (carried out by SMIT). Boskalis also
has strategic partnerships in the Middle
East (Archirodon) and in
terminal services (Smit Lamnalco). Boskalis has a versatile fleet of
over 1,100 units and operates in around 75 countries across
six
continents. Including its share in partnerships, Boskalis has
approximately
15,600 employees. 
This press release can also be found on our website www.boskalis.com. 
This information is subject of the disclosure requirements pursuant
to section
5-12 of the Norwegian Securities Trading Act. 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Dockwise Ltd via Thomson Reuters ONE 
[HUG#1686818] 
For more information please contact:
Dockwise
Fons van Lith
M: +31 (0)6 51 314 952 or
T: +31 (0)76 5484116
E: fons.van.lith@dockwise.com 
Boskalis
Martijn L.D. Schuttevaer
T +31 (0)78 6969310
E: ir@boskalis.com
 
 
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