CURACAO, Netherlands Antilles, Nov. 6 /PRNewswire-FirstCall/ -- Velcro Industries N.V. (the "Company") (NASDAQ:VELC), holding company for the Velcro companies and the industry leader in hook and loop fasteners, today announced the completion of its cash tender offer to purchase all outstanding shares of its common stock. The tender offer expired at 5:00 p.m., New York City time, on Monday, November 5, 2007.
The Company has been advised by Computershare Investor Services Inc., the depositary for the tender offer, that 2,572,437 shares were validly tendered as of 5:00 p.m., New York City time, on Monday, November 5, 2007 (including 87,573 shares tendered by notice of guaranteed delivery). All shares of Company common stock that were validly tendered and not properly withdrawn before the expiration of the offer have been accepted for payment. After giving effect to the purchase of validly tendered shares, approximately 1,185,000 shares, representing less than 5% of the Company's outstanding common stock, will be held by shareholders other than the Company's majority shareholder.
About Velcro Industries N.V.
Velcro Industries N.V. (NASDAQ:VELC) is incorporated and domiciled in Curacao, Netherlands Antilles as a Naamloze Vennootschap (public limited liability company) and acts as the holding company of the Velcro companies, which are primarily involved in the manufacturing and sales of VELCRO(R) and TEXACRO(R) brand fasteners, ULTRA-MATE(R) brand hook fasteners, and ONE-WRAP(R) brand straps throughout the world. DATASOURCE: Velcro Industries N.V.
CONTACT: MacKenzie Partners for Velcro Industries N.V., +1-212-929-5500
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