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KLM Group Announces Takeover Offer from Programmed Maintenance Services
Thursday October 29, 2009, 8:43 am

Original Announcement: Takeover Offer from Programmed Maintenance Services Ltd

KLM Group announced that it has signed a Takeover Bid Implementation Agreement with Programmed Maintenance Services under which an off-market takeover offer will be made to acquire all of the issued shares in KLM at a price of 47 cents cash per ordinary share. The offer will be subject to various conditions, including a minimum acceptance condition of 90%. The directors of KLM each intend to unanimously recommend that KLM shareholders accept the offer in the absence of a superior proposal. The offer from Programmed represents a 57.7% premium to the volume weighted average price of KLM shares for the 3 months to close of trade on 28 October 2009 and a premium of 4.4% to the closing price of 45 cents of KLM on 28 October 2009.

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