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Publicatie Biedingsbericht - Aanbevolen bod in contanten door NN Group op alle geplaatste en uitstaande gewone aandelen van Delta Lloyd

DIT DOCUMENT IS EEN VERTALING VAN EEN OORSPRONKELIJK IN DE ENGELSE TAAL OPGESTELD BERICHT EN WORDT UITSLUITEND VOOR INFORMATIEVE DOELEINDEN VERSTREKT. IN GEVAL VAN VERSCHILLEN TUSSEN BEIDE VERSIES PREVALEERT DE ENGELSE TEKST. AAN DE VERTALING KUNNEN GEEN RECHTEN WORDEN ONTLEEND.

Dit is een gezamenlijk persbericht van NN Group N.V. (‘NN Group’) en Delta Lloyd N.V. (‘Delta Lloyd’) ingevolge artikel 10 lid 3 en artikel 18 lid 3 van het Besluit openbare biedingen Wft (het ‘Bob’) in verband met het aanbevolen openbaar bod (het ‘Bod’) van NN Group op alle geplaatste en uitstaande gewone aandelen in het kapitaal van Delta Lloyd. Deze aankondiging vormt geen aanbod of uitnodiging tot het doen van een aanbod om effecten Delta Lloyd te kopen of hierop in te schrijven. Een bod zal slechts worden uitgebracht door middel van het biedingsbericht (het ‘Biedingsbericht’), dat per vandaag beschikbaar is, en onder de voorwaarden en conform de bepalingen en beperkingen zoals opgenomen in het Biedingsbericht. Begrippen met een hoofdletter in dit persbericht hebben de betekenis die daaraan is gegeven in het Biedingsbericht (tenzij anders gedefinieerd). Deze aankondiging is niet bestemd voor vrijgave, publicatie of distributie, geheel noch gedeeltelijk, direct noch indirect, in of naar Canada of Japan of elke andere jurisdictie, waarin dergelijke publicatie of distributie onrechtmatig zou zijn.

Den Haag, 2 februari 2017

NN Group en Delta Lloyd hebben vandaag een gezamenlijk persbericht uitgegeven waarin zij de publicatie van het biedingsbericht (‘Offer Memorandum’) aankondigen. NN Group doet een openbaar bod in contanten van EUR 5.40 op alle gewone aandelen Delta Lloyd met het doel een goed gediversifieerde speler in de Nederlandse markt op het gebied van pensioen, leven en schadeverzekeringen, bancaire dienstverlening en vermogensbeheer, met een attractieve internationale positie, aanzienlijke groeimogelijkheden en aantrekkelijke klant proposities te creëren. De bekendmaking vandaag markeert een belangrijke stap in het proces.

Kernpunten van de transactie:

  • Het Bod is een openbaar bod van EUR 5,40 (cum dividend) in contanten per geplaatst en uitstaand gewoon aandeel Delta Lloyd, wat een totale waarde van EUR 2,5 miljard vertegenwoordigt
  • Het Bod wordt ondersteund en aanbevolen door de Raad van Bestuur en de Raad van Commissarissen van Delta Lloyd
  • De ondernemingsraden van NN Group en Delta Lloyd hebben een positief advies uitgebracht over het Bod
  • De Aanmeldingstermijn start op 3 februari 2017 om 09.00 uur MET en eindigt op 7 april 2017 om 17.40 uur MET, onder voorbehoud van verlenging van de termijn
  • Delta Lloyd zal op 29 maart 2017 om 10.30 uur MET een buitengewone vergadering van aandeelhouders houden, waarbij o.a. het Bod zal worden besproken. Onmiddellijk na de vergadering, zal Delta Lloyd een tweede buitengewone vergadering van aandeelhouders houden om te besluiten over de Juridische Fusie
  • Gestanddoening van het Bod is onder voorbehoud van het voldoen aan of afstand doen van de Voorwaarden van het Bod zoals uiteengezet in het Biedingsbericht
  • Gestanddoening van het Bod is onder voorbehoud van de voorwaarde dat ten minste 95% van alle geplaatste aandelen is aangemeld. Deze Minimale Acceptatie Voorwaarde wordt verlaagd naar 67% indien de Juridische Fusie wordt goedgekeurd in de Delta Lloyd Juridische Fusie BAVA
  • Naar verwachting wordt het Bod afgerond in het tweede kwartaal van 2017

Meer informatie over het biedingsbericht kunt u terecht op www.nn-group.com/tenderoffer

Notice to US holders of Shares
The Offer will be made for the issued and outstanding ordinary shares of Delta Lloyd N.V., a public limited liability company incorporated under Dutch Law, and is subject to Dutch disclosure and procedural requirements, which are different from those of the United States. The Offer will be made in the United States in compliance with Section 14(e) of the U.S. Securities Exchange Act of 1934, as amended (the ‘U.S. Exchange Act’) and Regulation 14E promulgated thereunder, and the exemptions therefrom provided by Rule 14d-1(d), and otherwise in accordance with the requirements of Dutch and Belgium law. Accordingly, the Offer will be subject to certain disclosure and other procedural requirements, including with respect to withdrawal rights, the Offer timetable and settlement procedures and timing of payments that are different from those applicable under U.S. domestic tender offer procedures and laws.

The receipt of cash pursuant to the Offer by a U.S. holder of Shares will generally be a taxable transaction for U.S. federal income tax purposes and may be a taxable transaction under applicable state and local, as well as foreign and other tax laws. Each holder of Shares is urged to consult his independent professional advisor immediately regarding the tax consequences of acceptance of the Offer.

It may be difficult for U.S. holders of Shares to enforce their rights and claims arising out of the U.S. federal securities laws, since the Offeror and Delta Lloyd are located in a country other than the United States, and some or all of their officers and directors may be residents of a country other than the United States. U.S. holders of Shares may not be able to sue a non-U.S. company or its officers or directors in a non-U.S. court for violations of the U.S. securities laws. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court’s judgment.

To the extent permissible under applicable law or regulation, including Rule 14e-5 of the U.S. Exchange Act, in accordance with normal Dutch practice, the Offeror and its Affiliates or brokers (acting as agents for the Offeror or its Affiliates, as applicable) may before or during the period in which the Offer remains open for acceptance, directly or indirectly, purchase, or arrange to purchase, Shares outside of the United States, from time to time, other than pursuant to the Offer. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. In addition, the financial advisors to the Offeror may engage in ordinary course trading activities in securities of Delta Lloyd, which may include purchases or arrangements to purchase such securities. To the extent required in The Netherlands, any information about such purchases will be announced by press release in accordance with Article 13 of the Decree and posted on the website of NN Group at www.nn-group.com.

Restrictions
The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, NN Group and Delta Lloyd disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither NN Group, nor Delta Lloyd nor any of its advisors assumes any responsibility for any violation by any person of any of these restrictions. Any shareholder who is in any doubt as to its position should consult an appropriate professional advisor without delay. This announcement is not to be published or distributed in or to Canada or Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.

The information in the press release is not intended to be complete, for further information reference is made to the Offer Memorandum. This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. In addition, the Offer made pursuant to the Offer Memorandum is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority not expressly contemplated by the terms of the Offer Memorandum.

Forward-looking statements
Certain statements in this press release may be considered ‘forward-looking statements’, such as statements relating to the impact of the Offer on the Offeror, NN Group and Delta Lloyd and the expected timing and completion of the Offer. Forward-looking statements include those preceded by, followed by or that include the words may, anticipated, expected or similar expressions. These forward-looking statements speak only as of the date of this press release. Each of the Offeror, NN Group and Delta Lloyd, and any of their respective Affiliates, each with respect to the statements it has provided, believes the expectations reflected in such forward-looking statements are based on reasonable assumptions. Nevertheless, no assurance can be given that such statements will be fulfilled or prove to be correct, and no representations are made as to the future accuracy and completeness of such statements. The forward-looking statements are subject to risks, uncertainties and other factors, many of which are beyond the Offeror’s, NN Group’s and Delta Lloyd’s control, that could cause actual results to differ materially from historical experience or those results expressed or implied in these forward-looking statements. Potential risks and uncertainties include, but are not limited to, (i) the risk that required regulatory approvals may delay the Offer or result in the imposition of conditions that could have a material adverse effect on the Combined Group or cause the Offeror, NN Group and Delta Lloyd to abandon the Offer, (ii) the risk that the Offer Conditions may not be satisfied, (iii) risks relating to NN Group’s ability to successfully operate Delta Lloyd without disruption to its other business activities, which may result in the Combined Group not operating as effectively and efficiently as expected, (iv) the possibility that the Offer may involve unexpected costs, unexpected liabilities or unexpected delays, (v) the risk that the businesses of the Offeror, NN Group and Delta Lloyd may suffer as a result of uncertainty surrounding the Offer, (vi) the effects of competition (in particular the response to the Transaction in the marketplace) and competitive developments or risks inherent to NN Group’s or Delta Lloyd’s business plans, (vii) the risk that disruptions from the Transaction will harm relationships with customers, employees and suppliers, (viii) political, economic or legal changes in the markets and environments in which NN Group and/or Delta Lloyd does business, (ix) economic conditions in the global markets in which NN Group and Delta Lloyd operate, (x) uncertainties, risk and volatility in financial markets affecting the Offeror, NN Group and/or Delta Lloyd, and (xi) other factors that can be found in NN Group’s and its subsidiaries’ and Delta Lloyd’s press releases and public filings.

Neither the Offeror, NN Group nor Delta Lloyd, nor any of their respective Affiliates and advisors, accepts any responsibility for any financial information contained in the Offer Memorandum relating to the business, results of operations or financial condition of the other or their respective groups. Each of the Offeror, NN Group and Delta Lloyd expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based except as required by applicable laws and regulations or by any competent regulatory authority.