Arnhem, the Netherlands, and Longueuil, Quebec, Canada, April 26, 2006 – Akzo Nobel N.V. (Euronext Amsterdam: AKY; NASDAQ: AKZOY) and Sico Inc. (TSX: SIC) have jointly announced that Akzo Nobel’s wholly-owned subsidiary, 9168-1528 Québec Inc., has mailed its Offer and Circular to Sico shareholders in connection with Akzo Nobel’s previously announced take-over bid for all of the issued and outstanding common shares and Class B preferred shares of Sico Inc.
The Sico Directors’ Circular, which was also mailed with the Offer, contains the unanimous determination of the Board of Directors of Sico that the Offer is fair to Sico common shareholders and in the best interest of Sico, and the unanimous recommendation of the Board of Directors that common shareholders accept the Offer and deposit their shares to the Offer.
The Offer is open for acceptance until 6:00 p.m. (EDT) on May 31, 2006, unless withdrawn or extended and is subject to customary closing conditions including, among other things, that the number of Sico common shares being validly deposited under the Offer and not withdrawn, upon expiry of the Offer, constitute not less than 66-2/3% of the outstanding common shares of Sico on a fully diluted basis, and the receipt of necessary regulatory approvals in Canada.
Sico shareholders are advised to read the Offer and Circular, the Directors’ Circular and related documents, which have been filed with the Canadian securities commissions, as they contain important information. Sico shareholders may obtain a copy of these materials (when available) at http://www.sedar.com/.