R2G Rohan Czech s.r.o. (“R2G Rohan”) announces the launch of its voluntary tender offer addressed to all shareholders of PEGAS NONWOVENS SA (“Pegas”) at a price of CZK 1,010 per share.
The offer price was unanimously supported by the board of directors of Pegas. The board’s reasoned opinion will be published in full alongside the offer documents, which are available in Czech, English and Polish at https://www.r2g-rohan.cz
The offer price represents an 8.0% premium over the Pegas closing price on 14 July 2017 of 935.1 CZK and a record price for Pegas‘ shares prior to the publication of R2G Rohan’s intention to make the offer.
The offer will be open to acceptance until 25 September 2017.
Jakub Dyba, Head of Direct Investments, of R2G commented:
“We are pleased to announce the official launch of our voluntary tender offer, at a price which has the support of the board of Pegas and which is highly attractive to shareholders.”
R2G Rohan, as a long-term investor, will support the strategic growth of Pegas in Europe and beyond, and will be a partner to the Pegas management. R2G Rohan believes that it is in the long-term interests of Pegas to accumulate cash in order to enable it to undertake acquisitions in the nonwovens sector.
R2G Rohan is an investment vehicle indirectly owned by the Šlemr family foundation, and software pioneers and entrepreneurs, Eduard Kučera and Pavel Baudiš. As of the launch date, it owns 10.83% of Pegas.
Pegas is a major manufacturer of nonwoven fabrics used mainly for personal hygiene products, to a lesser extent in construction, agriculture and medical applications. It is primarily active in markets in Europe, the Middle East and Africa.
R2G is a family office based in Prague, which was established by industrialist Oldrich Šlemr in August 2016.