Helen Johnson-Leipold, Chairman and Chief Executive Officer, Johnson Outdoors, and Samuel C. Johnson, majority shareholder and director of Johnson Outdoors, are extending for an additional sixty days their February 20, 2004 non-binding proposal to acquire the outstanding public shares of the Company for a cash price of $18.00 per share. The special committee of independent directors established to evaluate the proposal on behalf of the Company was notified of the extension in a letter stating that all other terms of the proposal remain in effect.
The proposal pertains to all shares of the Company not already owned by Ms. Johnson Leipold and Mr. Johnson, or any member of their family or entities controlled by them. The proposal was filed on a Current Report on Form 8-K on February 20, 2004.
The special committee of independent directors is in the process of evaluating the proposal, and has retained independent financial and legal advisors to assist in that process.
Johnson Outdoors issued a statement cautioning its shareholders, and others considering trading in its securities, as follows:
The proposal is preliminary and nonbinding; the special committee of independent directors of the Company is in the process of considering the proposal; no decisions whatsoever have been made by the special committee in respect of the company's response, if any, to the proposal, and shareholders are not now being asked to take any action with respect to the proposal; the special committee will proceed in a timely and orderly manner to consider the proposal and its implications in accordance with applicable state and federal laws, including the Securities Act of 1933 and the Securities Exchange Act of 1934; and there can be no assurance that the proposed transaction or any other transaction will be approved or completed.
