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



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

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.

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. Schuttevâer
T +31 (0)78 6969310
E: ir@boskalis.com

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
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