Former Holders of Velcro Industries N.V. Shares Notified of Deposit of Funds by Cohere Limited
CURACAO, Netherlands Antilles, July 1 /PRNewswire/ -- Velcro Industries N.V. ("VINV"), holding company of the Velcro companies and the industry leader in hook and loop fasteners, today announced that Cohere Limited ("Cohere") has notified former holders of VINV shares of Cohere's deposit of funds with the Central Bank of the Netherlands Antilles to pay for all remaining VINV shares not previously tendered to Cohere (the "Deposit").
VINV received a copy of Cohere's letter dated June 23, 2009, addressed to all persons holding VINV shares as per June 15, 2009, advising such persons that Cohere consigned the per share price of US$21.00 and interest of US$0.16 per share to the Central Bank of the Netherlands Antilles on June 15, 2009, as payment for all 183,214 untendered VINV shares. Cohere's letter advised such persons that, as consequence of the Deposit, the right to all remaining VINV shares has transferred to Cohere and that any requests for release of funds from the Deposit should be directed to Bank van de Nederlandse Antillen, Attention of: Legal Department, Simon Bolivar Plein 1, Willemstad, Curacao, Netherlands Antilles.
Velcro Industries N.V. is incorporated and domiciled in Curacao, Netherlands Antilles as a Naamloze Vennootschap (public limited liability company) and acts as the holding company of the Velcro companies, which are primarily involved in the manufacturing and sales of VELCRO(R) and TEXACRO(R) brand fasteners, ULTRA-MATE(R) brand hook fasteners, and ONE-WRAP(R) brand straps throughout the world. For more information about Velcro Industries N.V., including annual and quarterly reports, proxy statements and other materials required to be electronically published under Rule 12g3-2(b) of the U.S. Securities Exchange Act of 1934, visit www.velcroindustriesnv.com.
Forward-Looking Statements
This press release and the documents referenced herein may contain "forward-looking" statements and information, which involve risks and uncertainties. Actual future results may differ materially. Statements indicating that VINV "expects," "estimates," "believes," "is planning" or "plans to" are forward-looking, as are other statements concerning future financial results or other events that have not yet occurred. There are several important factors that could cause actual results or events to differ materially from those anticipated by the forward-looking statements.
