press release Brandfort and ICT Automatisering
- April 9, 2014
- Ellen Verschuren
ICT TERMINATES TRANSACTION PROCESS ACQUISITION BRANDFORT
This is a public announcement by ICT Automatisering N.V. (“ICT”) pursuant to Section 5:25i, paragraph 2 of the Dutch Financial Supervision Act (Wet op het Financieel Toezicht).
With reference to the press release of 5 February 2014 and the EGM held on 11 February 2014, ICT Automatisering ("ICT") has decided to abort the contemplated transaction regarding Brandfort B.V. ("Brandfort")
During the discussions regarding the terms of agreement as communicated on 5 February, it became apparent that the parties could not reach agreement on the final terms of the contemplated transaction. The final terms proposed by the shareholders of Brandfort are deemed by the management board and the supervisory board of ICT not to be in the best interest of ICT and its stakeholders and therefore are unacceptable. ICT will continue to implement the strategy communicated to its shareholders.