CACEIS Bank ("CACEIS") and KAS BANK have today issued a joint press release informing the market that at the end of the offer period, 95.30% of issued and outstanding securities have been tendered and delivered to the offer. CACEIS declares its offer for KAS BANK unconditional, all conditions having been satisfied or waived.
Settlement and delivery of the securities will take place on 27th September 2019. Shareholders who have not yet tendered their securities will be able to do so, under the same terms and conditions as the offer, during the post acceptance period, commencing at 9:00 hours CET on Tuesday, 24th September 2019 and expiring at 17:40 hours CET on Monday, 7th October 2019.
Jean-François Abadie, CEO of CACEIS stated, “I am delighted in the success of this recommended public offer. The staff from KAS BANK will soon join CACEIS and bring their expert knowledge of the servicing needs of their institutional investor clients. CACEIS now adds a high level of expertise in pension fund servicing to its offer. All clients of the CACEIS group stand to benefit from the services of one of the leading European asset servicing companies, our geographical footprint and our financial strength. Together with the staff and management of KAS BANK, we will leverage our extensive migration experience to ensure uninterrupted service for KAS BANK clients."