Based on the Preliminary Tabulation, a Total of 216,929,200 Shares of
Coty Were Validly Tendered Pursuant to the Tender Offer and Not
Withdrawn. In addition, Notices of Guaranteed Delivery have been
delivered for 144,164,361 Shares
LUXEMBOURG–(BUSINESS WIRE)–JAB, a global investment firm focused on long-term investing in premium
consumer goods and services brands, today announced the preliminary
results of the previously announced tender offer by its affiliate for
150 million additional shares of Coty Inc. (NYSE:COTY) Class A common
stock (the “Shares”) at a price of $11.65 per share in cash. The tender
offer expired at 5:00 p.m., New York City time, on April 26, 2019 and
was not extended. All conditions having been satisfied or waived as of
expiration of the tender offer, JAB’s affiliate intends to, pending
final proration as described further below, accept for payment 150
million Shares validly tendered pursuant to the tender offer and not
properly withdrawn or otherwise delivered pursuant to a Notice of
Guaranteed Delivery.
Based on the preliminary tabulation by Computershare Trust Company,
N.A., the depositary for the tender offer, a total of 216,929,200 Shares
were validly tendered pursuant to the tender offer and not properly
withdrawn (excluding all Shares tendered by Notice of Guaranteed
Delivery for which certificates have not yet been delivered). In
addition, the depositary has advised that Notices of Guaranteed Delivery
have been delivered for 144,164,361 Shares.
Because the tender offer was oversubscribed, the number of Shares that
JAB’s affiliate will purchase from each tendering stockholder will be
prorated to limit the aggregate purchase to 150 million Shares. Based on
the preliminary information provided by the depositary, and including
all Shares tendered by Notice of Guaranteed Delivery, JAB estimates that
the proration factor for the tender offer will be approximately 41.54%.
The Shares to be purchased and the proration factor are preliminary and
subject to confirmation by the depositary of the proper delivery of
Shares tendered (including by Notice of Guaranteed Delivery). The final
results of the tender offer, including the final proration factor, will
be announced following the expiration of the guaranteed delivery period
and completion of the confirmation process.
Payment for Shares accepted for purchase by JAB’s affiliate will be made
promptly in accordance with the terms of the tender offer following
determination of the final proration factor and taking into account
adjustments to avoid purchases of fractional Shares. All Shares tendered
in the tender offer but not accepted for purchase will be returned to
the tendering stockholders.
Innisfree M&A Incorporated (“Innisfree”) is acting as information agent
for the tender offer. Requests for documents and questions regarding the
tender offer may be directed to Innisfree toll free at (888) 750-5834
(for shareholders) or collect at (212) 750-5833 (for banks and brokers).
About JAB Holding Company
JAB Holding Company and JAB Consumer Fund invest in companies with
premium brands, attractive growth and strong cash flow dynamics in the
consumer category.
Together, JAB Holding Company and JAB Consumer Fund have controlling
stakes in Keurig Dr Pepper, a challenger & leader in the North American
beverage market, Jacobs Douwe Egberts (JDE), the largest pure-play FMCG
coffee company in the world, Panera Bread, a leading bakery-cafe
company, Pret A Manger, a leading company in the ready-to-eat food
market, Peet’s Coffee & Tea, a premier specialty coffee and tea company,
Caribou Coffee Company, a specialty retailer of high-quality premium
coffee products, Einstein Noah Restaurant Group, Inc., the leader in the
North-American bagel category, Krispy Kreme Doughnuts, a global leader
in doughnuts and other premium-quality sweet treats, and in Espresso
House, the largest branded coffee shop chain in Scandinavia.
JAB Holding Company is also the largest shareholder in Coty Inc., a
global leader in beauty, and owns a controlling stake in luxury goods
company Bally as well as a minority stake in Reckitt Benckiser PLC, a
global leader in health, hygiene and home products. For more
information, please visit the company’s website at: http://www.jabholco.com.
Contacts
For JAB:
Abernathy MacGregor
Tom Johnson/Pat Tucker, +1 (212)
371-5999
[email protected]/[email protected]
