It duly noted:

-         the stock's very low liquidity, on average 30 shares a day for the last 6 months,

-         that the stock's market value is less than the conditions of last February's tender offer,

-         the negligible market interest in the stock market listing.

 

Accordingly it decided to launch a Public Buy-back Offer ("squeeze-out") for the 44,466 Neuhaus shares still in circulation (4.78% of the capital).

 

The unit price proposed is EUR 54.40 per share based on a report drawn up by an independent expert.

 

A complete folder relating to the Offer has been deposited with the Banking, Finance and Insurance Commission. The availability of the prospectus will be announced in the press.