Marel: Open house and fireside chat with the management of Marel and JBT

The event will feature the CEOs of both companies, as well as the CFO of JBT, who will discuss the strategic rationale of their proposed combination, highlighting the benefits for shareholders and other stakeholders.

More information on the agenda and registration at: marel.com/futureforward

Live webcast of fireside chat in Iceland
The Chief Executive Officers of Marel and JBT, Arni Sigurdsson and Brian Deck, along with Matt Meister, JBT’s Chief Financial Officer, will host a fireside chat to further discuss the combination prior to the expiration of the voluntary takeover offer. The webcast will start at 13.00 GMT (14.00 CET/08.00 ET) on Wednesday 11 December 2024 and will also be live streamed on the websites of Marel, JBT and Arion Bank.

Marel open house, a tour of manufacturing and innovation hub
At the open-house event, guests will be guided through the manufacturing facilities in Iceland. There will also be short presentations on new and groundbreaking innovations, software solutions and the importance of a strong company culture. Additionally, there will also be a virtual site visit to a state-of-the art salmon processing plant using VR. We kindly ask attending guests to register as space is limited.

Agenda

• 12:30: Registration and coffee
• 13:00: Livestream fireside chat with the management of Marel and JBT
• 14:00 – 15:30: Designing the future of food
  • Guided tour of manufacturing and innovation hub
  • Short presentations on new and exciting technological innovations, software solutions, and the people behind Marel
  • Virtual reality in innovation and product development and a virtual site visit to a salmon processing plant using VR
• 15:30 – 16:00: Drinks reception

Voluntary takeover offer to the shareholders of Marel
On 24 June 2024, John Bean Technologies Corporation („JBT”), made a voluntary public takeover offer to the shareholders of Marel hf. in accordance with the provisions of the Icelandic Act no. 108/2007 on Takeovers, based on the terms and conditions set out in an offer document, dated the same day, which has been approved by the Financial Supervisory Authority of the Central Bank of Iceland.
 
The transaction is subject to customary conditions including approval by JBT shareholders, regulatory approvals, and approval by Marel shareholders.
 
In November, JBT announced that it had received approval from all relevant regulatory authorities regarding the proposed acquisition of Marel hf. Marel shareholders have until 12:00 noon GMT on 20 December 2024 to tender their shares. Provided JBT achieves a threshold acceptance by Marel shareholders, representing at least 90 percent of all Marel shares, JBT will settle the offer consideration to Marel shareholders within 5 Icelandic business days from the expiration date of the offer. The settlement of the transaction is therefore expected to close no later than 3 January 2025, taking into account all bank holidays in the Icelandic market.
 
Marel shareholders are highly encouraged to tender their shares prior to 20 December 2024, 12:00 PM GMT. 

Shareholder questions on offer process
Marel shareholders who hold Marel shares listed on Nasdaq Iceland can contact Arion banki hf. with any queries related to the acceptance and/or settlement of the Offer by email at assistance.marel2024@arionbanki.is.

Marel shareholders who hold Marel shares listed on Euronext Amsterdam should contact their financial intermediary to obtain information on the acceptance and/or settlement process. Financial intermediaries and Marel shareholders can contact ABN AMRO Bank N.V. with any queries by email at corporate.broking@nl.abnamro.com.

Further Information

Investor Relations

• Marel – Tinna Molphy
• Email: ir@marel.com
• Tel: +354 8538603

Media Relations

• FTI – Alex Le May and Matthew O´Keeffe
• Email: Marel@fticonsulting.com
• Tel: +44 (0)20 3727 1340