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    Fugro opposes legal action by Boskalis

    Company News // March 13, 2015

    Fugro says it recently received a writ of summons from Boskalis to force a shareholder vote at its annual shareholders meeting scheduled on 30 April 2015 on a recommendation in respect of one of Fugro's three protective measures (known as the Foundation Continuity Fugro or Stichting Continuïteit Fugro).

    Fugro says it is willing to discuss the item at its shareholders meeting. "This ensures that all shareholders will have ample opportunity for discussion if they want to," said Fugro in a statement. "Boskalis, however, wants to table it as a voting item which according to Fugro is not in line with the law."

    Fugro reiterated that it highly values its position as a leading, independent geotechnical and survey services and data provider. It noted that, like most Dutch listed companies, it has had protective measures for many years, in order to secure its independent position, and that these measures were in place long before Boskalis began to secure an unsolicited stake in the company.

    Fugro said it is "disappointed" by the position of Boskalis and opposes the action taken by Boskalis.

    "This legal action is neither justified nor in the interest of Fugro's stakeholders, and there is no legitimate interest for Boskalis given its repeated and explicit public statements that its holding in Fugro is not a step towards making an offer for Fugro," said Fugro.

    The case will be heard by the Dutch District Court on 17 March 2015 and the decision is expected to be handed down soon after that.

     

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