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Cascal Updates Corporate Website to Provide Timely Access to News and Information Related to Sembcorp Dispute
May 11, 2010 (04:05 PM EDT)
Company Continues to Pursue Available Defensive Measures to Combat Unsolicited and Undervalued Proposed Tender Offer
LONDON, May 11 /PRNewswire-FirstCall/ -- Cascal N.V. (NYSE: HOO) (the Company) today announced that it has updated its corporate website to include a dedicated section for news and information related to its dispute with Sembcorp (which includes Sembcorp Utilities Pte Ltd. and Sembcorp Industries Ltd.). The new section titled "Sembcorp Hostile Bid," can be accessed from the navigation atop the Company's home page at www.cascal.co.uk.
Any future releases or other information related to Cascal's defense of this unsolicited offer by Sembcorp will be immediately posted to the dedicated section following proper public distribution guidelines. Cascal urges its investors to visit the new section of its website to gain additional and timely updates on the Company's efforts to prevent Sembcorp's actions.
As stated in previous communications, the Board of Directors of Cascal rejects Sembcorp's proposal as unacceptable and coercive, and recommends that Cascal common shareholders take no action to respond to a below market tender that Sembcorp Industries Ltd, a wholly owned subsidiary of Sembcorp Utilities Pte Ltd ("Sembcorp"), said it intends to make.
About Cascal N.V.
Cascal provides water and wastewater services to its customers in eight countries: the United Kingdom, South Africa, Indonesia, China, Chile, Panama, Antigua and The Philippines. Cascal's customers are predominantly homes and businesses representing a total population of approximately 4.7 million.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION LEGEND:
SECURITY HOLDERS SHOULD READ CASCAL N.V.'S SOLICITATION/RECOMMENDATION STATEMENT WHEN IT IS AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. INVESTORS MAY OBTAIN THE RECOMMENDATION AND OTHER FILED DOCUMENTS FREE OF CHARGE AT THE COMMISSION'S WEB SITE (www.sec.gov) AS WELL AS DIRECTLY FROM CASCAL N.V. BY CONTACTING JEFFREY GOLDBERGER, KCSA STRATEGIC COMMUNICATIONS, 880 THIRD AVENUE, NEW YORK, NEW YORK 10022, +1 212.896.1249, JGOLDBERGER@KCSA.COM.
Learn more at www.cascal.co.uk
This release contains forward-looking statements that are not guarantees of future performance. There are important factors, many of which are outside of our control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, housing and population growth trends, changes in energy prices and taxes, fluctuations with currency exchange rates, changes in regulations or regulatory treatment, changes in environmental compliance and water quality requirements, availability and the cost of capital, the success of growth initiatives, acquisitions and our ability to successfully integrate acquired companies and other factors discussed in our filings with the Securities and Exchange Commission, including under Risk Factors in our Form 20-F for the fiscal year ended March 31, 2009, filed with the SEC on July 1,2009. We do not undertake and have no obligation to publicly update or revise any forward-looking statement.
SOURCE Cascal N.V.