Haier Europe announces new offer for Purmo Group

Haier Europe Appliances Holding B.V. (“Haier”), a wholly-owned subsidiary of Haier Smart Home Co., Ltd. (“HSH”), has announced a competing voluntary public all-cash tender offer for all the issued and outstanding class C shares (the “Class C Shares”) and all the issued and outstanding class F shares (the “Class F Shares,” and, together with the Class C Shares, the “Shares” or, individually, a “Share”) in Purmo Group Plc (“Purmo” or the “Company”) that are not held by Purmo or any of its subsidiaries (the “Haier Tender Offer”) at a price of EUR 13.68 per share for each Class C Share and each Class F Share eligible for conversion into a Class C Share validly tendered in the Tender Offer and at a price of EUR 8.28 per share for each Class F Share ineligible for conversion into a Class C Share validly tendered in the Tender Offer.