Under the terms of a Share Acquisition Contract signed on June 1, 2005, between LAFUMA and TEAHUPOO (an investment fund subsidiary advised by ARGOS SODITIC), as well as certain shareholder managers of OXBOW, LAFUMA acquired 2.4 million OXBOW shares on June 2, 2005, representing 63.70% of capital and 63.92% of voting rights, at a price of 10.75 ($13.11) per share, or roughly 25.8 million ($31.5 million).
Following the takeover, the composition of OXBOWs Supervisory Board was changed partially to reflect its new shareholding structure.
The new Supervisory Board consists of Christian Hass, Chairman, and François Chapuis, both directors of LAFUMA, as well as Vincent Huguenin, re-appointed as an independent member of OXBOWs supervisory board.
Philippe Joffard, Chairman of LAFUMA, has been appointed Chairman of OXBOWs Board of Directors and Dominique de La Tournelle, who has been appointed Managing Director, remains a Member of the Board of Directors.
In accordance with stock market regulations, LAFUMA will submit a draft standing offer at a price of 10.75 euros per OXBOW share cum-dividend and as a result OXBOWs share price will be suspended the same day.
