Jeroen Hellenberg, January 15, 2014

Project Holland Fonds reduces stake in Ordina

Broader shareholder base and greater share liquidity benefit Ordina

  • Project Holland Fonds will offer ca. 10% to 15% of the outstanding shares of Ordina
  • Shares will be offered through an accelerated bookbuild offering
  • 180-day lock up applies to Project Holland Fonds’ remaining stake

Project Holland Deelnemingen B.V. (“Project Holland Fonds”) and Ordina N.V. (“Ordina”) today announce that Project Holland Fonds has the intention to sell 10% to 15% of Ordina’s outstanding shares. A maximum of 13.846.626 shares in Ordina will be offered today to institutional investors and other qualified investors through an accelerated bookbuild offering.

Bart Timmer (Managing Director Project Holland Fonds): “In 2011, we had the opportunity to assist Ordina with a financial restructuring operation, as a result of which we accumulated a considerable stake in Ordina. Ordina is now making good progress with its management agenda. The moment has come for us to realise some of our return and clear the way for new shareholders. This will also increase the liquidity of the share and broaden the company’s shareholder base. Project Holland Fonds’ positive view of Ordina and its management is unchanged and Project Holland Fonds will therefore remain committed to this outstanding company as a major shareholder.”

Stépan Breedveld (CEO Ordina): “Project Holland Fonds has informed Ordina of its plan to sell off shares. Project Holland Fonds proved to be an important shareholder for Ordina when we boosted our capital structure in 2011. The fact that Project Holland Fonds is now reducing its stake offers new opportunities for other investors who are interested in our share. A more liquid share with a broader shareholder base also benefits our company and its stakeholders. We are pleased that Project Holland Fonds, as a constructive and stable partner, will remain a major shareholder of Ordina. We are grateful to Project Holland Fonds for their assistance and trust in the past period.”

Details of the placement

Registration will open immediately and is likely to be closed no later than 17.30 Dutch time today, whereafter the final price and final number of shares sold will be determined. Payment and delivery is expected to be effected on 20 January 2014. The Ordina shares to be sold already qualify for listing on Euronext Amsterdam. Rabobank International will act as sole book runner for the placement.

Project Holland Fonds has agreed a 180-day lock up with Rabobank International for its remaining shareholding, which shall commence after payment and delivery of the placement.