The demerger was executed in two steps:
First, the demerger deed was executed yesterday, becoming effective immediately after 0.00 CET this morning. This resulted in 70.1% of the shares in the company that held the Express business, TNT Express Holdco B.V., being demerged by TNT N.V. to TNT Express N.V.
As part of the legal demerger, TNT Express N.V. has allotted ordinary shares to the existing shareholders of TNT N.V. TNT shareholders have received one ordinary share in the newly listed TNT Express N.V. for each one ordinary TNT N.V. share currently held.
Second, this morning the demerger was followed by a merger between TNT Express N.V. and TNT Express Holdco B.V., after which TNT Express Holdco B.V. will cease to exist. The merger will become effective immediately after 00.00 CET tonight.
As part of the merger, TNT Express will allot such number of shares to TNT N.V. for it to hold 29.9% of the ordinary shares of TNT Express N.V. This minority shareholding is to be a financial shareholding to cover equity and funding requirements. It is governed by an agreement that provides for the terms and conditions on lockup and orderly market arrangements, subject to which Mail will reduce its shareholding over time.
As from tomorrow the issued share capital of TNT Express N.V. will consist of 542,033,181 ordinary shares.
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About TNT Express
TNT Express, one of the world’s largest express delivery companies, moves 4.7 million parcels, documents, and pieces of freight every week to more than 200 countries. TNT Express operates air and road transportation networks in Europe, China, South America, the Asia-Pacific and the Middle East. The company employs 83,000 people and runs a fleet of about 30,000 road vehicles and 50 aircraft. It has more than 2,600 depots and sorting centres. TNT Express made €7.053 billion in revenue in 2010. For more information, please visit TNT’s website at:
http://www.tnt.com/corporate
For more information and inquiries, please contact:
TNT Media Relations
Ernst Moeksis
Director Media Relations
Phone: +31 88 393 9323
Mobile: +31 651 189 384
Email: ernst.moeksis@tnt.com
TNT Investor Relations
Andrew Beh
Group Director Investor Relations
Phone: +31 88 393 9500
Mobile: +31 623 703 493
Email: andrew.beh@tnt.com
For pictures, video, and the latest news of TNT Express, please visit our online press room: http://www.tnt.com/corporate
