Royal BAM Group and AM confirm that the preparations are well under way for the recommended public offers by Royal BAM Group's group company, Terra Amstel B.V., for all outstanding shares AM for a cash consideration of €10.15 per share and all outstanding warrants AM for a cash consideration of €2.30 per warrant.
Further to the joint press release by Royal BAM Group, Offeror, AM and MSREF on 10 November 2005, Royal BAM Group, Offeror and AM jointly announce that the preparations of the intended public offers are well under way. A number of conditions precedent in relation to the sale of AM Development B.V. are not yet fulfilled. These conditions need to be fulfilled before the Offeror will launch the public offers. Offeror and AM expect these conditions will be fulfilled in the short term and Offeror intends to make the recommended offers no later than Friday 23 December 2005, or sooner if possible.
Source: AM/Royal BAM Group/Terra Amstel BV