Syngenta gets 94 pct of Devgen shares

Syngenta announced today that, upon closing of the initial acceptance period of its bid for Devgen, 94.11 percent of the total number of shares in Devgen have been tendered under the terms of the offer.

Syngenta has therefore confirmed that all conditions of its offer have been fulfilled and the bid has now become unconditional. Payment for the shares already tendered will take place on December 17, 2012, from which date the board of directors of Devgen will be composed of a majority of directors appointed by Syngenta.

The offer will be reopened as from December 28, 2012 until January 18, 2013 (16:00 Central European Time) to allow the remaining share and warrant holders to tender their securities. The results of the reopening will be published on January 25 and settlement will take place on January 30, 2013. The reopened offer will be unconditional and will be made at the same price as the original tender offer.

If Syngenta acquires at least 95 percent of the shares in Devgen, it intends to proceed with a simplified squeeze-out in order to acquire by rule of law the remaining shares and warrants. Syngenta will in any case request the delisting of Devgen.

The prospectus relating to the tender offer and the Devgen Board memorandum of response recommending the offer were approved by the Belgian Financial Markets and Services Authority on November 8, 2012. The acceptance procedures are described in the prospectus, which is available at no cost at the counters of the receiving and paying agent, KBC Bank NV or KBC Securities NV (or via +32(0)3 283 29 70). An electronic version of the prospectus is also available on the following websites: www.kbc.be, www.kbcsecurities.be and www.syngenta.com. 

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