This is an announcement by HITT N.V. in accordance with Section 5:25i paragraph 2 of the Act on Financial Supervision (Wet op het financieel toezicht or the "Act").
Apeldoorn, 7 September 2012 - Reference is made to (i) the offer document regarding the offer by Saab AB (publ) ("Saab") for all outstanding shares in the capital of HITT N.V. ("HITT") ("Saab Offer") dated 6 August 2012 (the "Saab Offer Document"), (ii) HITT's press release dated 27 August 2012 ("New developments with respect to Saab Offer for HITT") and (iii) Saab's press releases dated 30 August 2012 and 4 September 2012 respectively ("Saab increases ownership in HITT to 71%" and "Saab increases ownership in HITT to 77%"). All capitalised terms used in this announcement will have the same meaning as in the Saab Offer Document, unless the context requires otherwise, or otherwise defined herein.
The HITT Boards hereby announce that they have received confirmation from the Chinese party whose unsolicited proposal for a public cash offer for all Shares was earlier received by HITT, that following Saab's public announcement on its increase of ownership in HITT to 71% and 77% respectively, such Chinese party is no longer interested in making an offer for, or an acquisition of, HITT.
The HITT Boards will continue to cooperate with Saab and recommend and support the increased and now mandatory Saab Offer of EUR 7.00 per Share.
About HITT
HITT is a leading player in the worldwide markets for
traffic management and navigation systems. The company
develops technology aimed at safety enhancement and traffic
flow improvement, whilst also enabling significant cost
reductions in infrastructure and logistics. The core
activities of HITT consist of developing, selling and
maintenance of management & control systems and services
for air and vessel traffic and hydro-graphic and navigation
systems. In 2011 HITT achieved revenues of EUR 40.7 million
and a net profit of EUR 3.4 million. The number of staff at
year-end 2011 was 188. HITT has been listed on Euronext
Amsterdam NV since June 1998.
For information: Sjoerd Jansen (CEO); t. +31 (55) 5432590 e: investor.relations@hitt.nl
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