Platform Acquisition Holdings Completes Acquisition of MacDermid, Incorporated

Platform Acquisition Holdings Completes Acquisition of MacDermid, Incorporated

- Combined entity renamed Platform Specialty Products Corporation, seeks NYSE
listing

PR Newswire

TORTOLA, B.V.I., Oct. 31, 2013

TORTOLA, B.V.I., Oct. 31, 2013 /PRNewswire/ -- Platform Acquisition Holdings
Limited (LSE: PAH) ("Platform") announced today that it has completed its
previously announced acquisition of MacDermid, Incorporated ("MacDermid") a
global provider of high value-added specialty chemicals for approximately $1.8
billion and up to $100 million of contingent consideration.With the closing
of this transaction, Platform has been renamed Platform Specialty Products
Corporation ("PSP" or "the Company") and will now look to complete a listing
of its shares on the New York Stock Exchange. Platform's shares and warrants
remain suspended from trading on the London Stock Exchange and are not
expected to resume trading on the London Stock Exchange.

At the closing of the transaction, the Company paid approximately $925 million
in cash and additionally delivered approximately $100 million of new equity to
the sellers, with the balance of the consideration at Closing being the
assumption of MacDermid first lien bank debt.The equity issued consisted of
shares of a wholly owned subsidiary of Platform that may be exchanged for
shares of Platform after one year. The Company funded the cash portion of the
purchase price and related transaction expenses with a combination of cash on
hand and approximately $145 million of proceeds from an initial closing of a
warrant exchange offer. The remaining portion of the purchase price will be
delivered in cash or stock following the effectiveness of the Company's
registration statement and NYSE listing.

Martin E. Franklin, PSP's Chairman, commented, "The successful closing of this
transaction is a significant milestone for Platform, as PSP will now serve as
a foundation for building a portfolio of industry-leading, best-in-class
specialty chemical businesses. Our clear vision, disciplined acquisition
strategy, and talented management team provide us with the tools necessary to
accelerate growth and drive success at PSP."

Dan Leever, PSP's Chief Executive Officer, added, "Today marks an exciting and
transformative day in MacDermid's 90-year history. As we officially enter
under the PSP umbrella, we are presented with stronger organic and acquisition
growth opportunities that we believe will help us realize our vision of
becoming a leading player in the overall specialty chemical space."

With the closing of this transaction, Platform has changed the composition of
its Board of Directors. Martin E. Franklin, Founder and Executive Chairman of
Jarden Corporation, is now PSP's Chairman. Dan Leever, who served as
MacDermid's Chairman and Chief Executive Officer, has been appointed PSP's
Vice Chairman and CEO. Nicolas Berggruen, Co-Founder of Platform, will remain
on the Board. In addition, each of Ian G. H. Ashken, a Co-Founder, Vice
Chairman and CFO of Jarden Corporation, Michael Goss, a Managing Director of
Bain Capital, Stanley O'Neal, formerly Chief Executive Officer and Chairman of
the Board of Merrill Lynch & Co. and Ryan Israel a partner at Pershing Square
Capital Management, has joined the Board. Each of the Company's non-founder
directors, Lord Paul Myners, Alun Cathcart and Alain Minc, has resigned his
position from the Board.

Safe Harbor

Forward-Looking Statements and Disclaimers

This announcement does not constitute or form part of any offer or invitation
to purchase, otherwise acquire, issue, subscribe for, sell or otherwise
dispose of any securities, nor any solicitation of any offer to purchase,
otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any
securities.

This announcement is not an offer of securities for sale or a solicitation of
an offer to purchase securities of Platform.

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or
distributed should inform themselves about and observe such restrictions.

Certain statements in this announcement are forward-looking statements which
are based on the Company's expectations, intentions and projections regarding
its future performance, anticipated events or trends and other matters that
are not historical facts, including expectations regarding (i) the date by
which Platform shares will be listed on the New York Stock Exchange, (ii) the
benefits of the MacDermid technology and strategy and its impact on
MacDermid's future financial performance and (iii) the future operating and
financial performance of PSP. These statements are not guarantees of future
performance and are subject to known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, including (i) the
ability of Platform to have a registration statement declared effective by the
SEC, (ii) the ability of Platform to meet the NYSE listing criteria and (iii)
economic conditions, competition and other risks that may affect MacDermid's
future performance. Given these risks and uncertainties, prospective investors
are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of such statements and,
except as required by applicable law, the Company undertakes no obligation to
update or revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.

About MacDermid

MacDermid Inc. is a leading global producer of high technology, specialty
chemical products and a provider of technical services. For more than 90
years, MacDermid has manufactured dynamic chemistries, through the blending of
raw materials in complex, innovative multi-step technological processes.
MacDermid operates in two segments, Performance Materials and Graphic
Solutions, serving approximately 3,500 customers in over 20 countries across
the industrials, electronics, graphic arts, oil production and drilling and
plastics finishing industries. Established in 1922 and headquartered in
Waterbury, Connecticut,MacDermid employs over 2,000 people in multiple sites
throughout the world. Additional information on MacDermid and its products and
services is available at www.macdermid.com.

About Platform

Platform Specialty Products Corporation FKA Platform Acquisition Holdings
Limited (LSE: PAH) completed its IPO in May 2013. The Company was formed to
undertake an acquisition of a target company or business with an expected
enterprise value of between $750 million and $2.5 billion and to operate the
acquired business and implement an operating strategy with a view to
generating value for shareholders. More information on Platform is available
at http://www.platformspecialtyproducts.com.

This announcement is not a prospectus and not an offer for sale, or a
solicitation of an offer to acquire, securities in any jurisdiction including
in or into the United States, Canada, Australia, or Japan. Investors should
not subscribe for or purchase any transferable securities referred to in this
announcement except on the basis of information in the Registration Statement
intended to be filed by Platform Acquisition Holdings Limited in due course in
connection with the registration of its shares with the U.S. Securities and
Exchange Commission ("SEC"). PLATFORM SHAREHOLDERS ARE URGED TO READ CAREFULLY
THE PROSPECTUS (AS DEFINED BELOW) TOGETHER WITH OTHER RELEVANT DOCUMENTS TO BE
FILED WITH THE SEC IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED
MATTERS. Copies of the Registration Statement will, following its filing, be
available on the website of the SEC at www.sec.gov.

Platform will file with the SEC a registration statement on Form S-4
containing a prospectus with respect to the securities to be offered to
certain shareholders of MacDermid and those securities to be listed on the New
York Stock Exchange (the "Prospectus"). PLATFORM SHAREHOLDERS AND THOSE
MACDERMID SHAREHOLDERS WHO ARE RECEIVING STOCK ARE URGED TO READ CAREFULLY THE
PROSPECTUS TOGETHER WITH OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and
shareholders will be able to obtain free copies of the Prospectus and other
documents filed with the SEC by Platform through the website maintained by the
SEC at www.sec.gov.

Media Contacts:

Liz Cohen
Weber Shandwick
+1-212-445-8044

Kelly Gawlik
Weber Shandwick
+1-212-445-8368

John Moriarty
Weber Shandwick
+44 (0)207 067 0736



SOURCE Platform Acquisition Holdings Limited

Website: http://platformacquisitionholdings.com
 
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