Amsterdam - 22nd April 2014 - Head NV (VSX: HEAD; U.S. OTC:HEDYY.PK) ("Head" or "Company"), a leading global manufacturer and marketer of sports equipment, announced today that it has acquired 14,865,236 Shares in Head NV at €1.60.
The Shares were tendered under the Unconditional Offer made by Head on the 28th March 2014.
Details of the current share ownership of Head NV can be found on the Company`s website: http://www.head.com/corporate/investors/structure.php.
The Unconditional Offer will be paid for out of the cash reserves of the Company.
Full details of the Unconditional Offer, including a number of terms and conditions, are contained in the "Unconditional Offer to Buy Back Shares" document which can be found on our website. All capitalised words used in this press release have the meaning ascribed to them in the "Unconditional Offer to Buy Back Shares" document.
This press release is for information purposes only and is not an offer to buy Head NV`s Shares.
HEAD NV is a leading global manufacturer and marketer of premium sports equipment and apparel.
HEAD NV`s ordinary shares are listed on the Vienna Stock Exchange ("HEAD").
Our business is organized into five divisions: Winter Sports, Racquet Sports, Diving, Sportswear and Licensing. We sell products under the HEAD (alpine skis, ski bindings, ski boots, snowboard and protection products, tennis, racquetball, paddle and squash racquets, tennis balls and tennis footwear, sportswear and swimming products), Penn (tennis balls and racquetball balls), Tyrolia (ski bindings) and Mares (diving equipment) brands.
For more information, please visit our website: www.head.com
Analysts, investors, media and others seeking financial and general information, please contact:
Clare Vincent, Investor Relations
Tel: +44 207 499 7800
Fax: +44 207 491 7725
Gunter Hagspiel, Chief Financial Officer
Tel: +43 5574 608
Fax: +43 5574 608 130
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms and phrases, including references to assumptions, as they relate to Head NV, its management or third parties, identify forward-looking statements. Forward-Looking statements include statements regarding Head NV`s business strategy, financial condition, results of operations, and market data, as well as any other statements that are not historical facts. These statements reflect beliefs of Head NV`s management as well as assumptions made by its management and information currently available to Head NV. Although Head NV believes that these beliefs and assumptions are reasonable, the statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These Factors include, but are not limited to, the following: global economic turmoil, weather and other factors beyond our control, competitive pressures and trends in the sporting goods industry, our ability to implement our business strategy, our liquidity and capital expenditures, our ability to obtain financing, our ability to compete, including internationally, our ability to introduce new and innovative products, legal proceedings and regulatory matters, our ability to fund our future capital needs, and general economic conditions. These factors, risks and uncertainties expressly qualify all subsequent oral and written forward-looking statements attributable to Head NV or persons acting on its behalf.
Prins Bernhardplein 200,
1097 JB Amsterdam
Stock Market: Official Market of the Vienna Stock Exchange
Market: SIX Swiss Exchange
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Head N.V. via GlobeNewswire