After obtaining the authorization of the National Securities Market Commission (CNMV) of its public acquisition offer (takeover bid) of exclusion of 100% of the shares of ErcrosBondalti has announced the start of the acceptance periodwhich will be from July 24, 2026 to September 10, 2026both inclusive (49 calendar days). During this period, Ercros shareholders who wish to accept the offer must go to the entity in which they have their shares deposited and express their declaration of acceptance in writing to the latter, either in person, by electronic means or by any other means accepted by the depository entities. «This offer It is an opportunity for Ercros shareholders to materialize their investment at an attractive and certain price. Those who decide not to attend, and as long as there are no cases of forced sale, will maintain their participation in an unlisted company, without stock market liquidity and without provision for the distribution of dividends,» said João de Mello, president of Bondalti.
The offer is effectively directed at 22.77% of the share capital of Ercroscorresponding to a total of 20,820,562 shares, as Bondalti already owns 77.23% of the company. The Offer is not subject to any conditions.
The offer price of 3,505 euros per sharethe same as that of the Previous Voluntary Offer, which will be paid 100% in cash, meets the requirements of equitable price for the purposes of Royal Decree 1066/2007 and the Offering Company has based itself on a report by an independent expert from Kroll. Therefore, The maximum amount of the operation amounts to 72.98 million euros. «The delisting will allow Ercros to focus on the implementation of initiatives with a long-term approachavoiding the impact generated by fluctuations in the prices of listed shares and without the need to meet the short-term expectations of the capital markets», indicated De Mello. This operation occurs after the liquidation, on March 24, 2026, of the previous voluntary public offer formulated by Bondalti, after which it reached a participation in the share capital of Ercros of 77.23%. With this new offer, The company will achieve its objective of delisting Ercros and increasing its participationoffering a cash exit to minority shareholders. The delisting and the formulation of the offer were approved at the Ercros General Shareholders’ Meeting, which took place on June 30. According to the offer brochure authorized by the CNMV, If after the result of the offer, Bondalti reaches 90% of the share capital with voting rights of Ercros and the offer is accepted by holders of shares representing at least 90% of the voting rights of Ercros to whom it is addressed, Bondalti will exercise the right to squeeze out the remaining shares.. If these thresholds are not exceeded, shareholders who do not participate in the sale will maintain their participation in an unlisted company and, therefore, without stock market liquidity. Bondalti has also reiterated that does not foresee modifying the activities carried out by Ercros or the location of its activity centersexcept for the conditions imposed by the CNMC for the authorization of the concentration operation, and maintains its intention to preserve employment and working conditions. Likewise, it plans to maintain the registered office of Ercros in Barcelona.
