CLOVERDALE, CA, July 18, 2017-

Pegas Nonwovens’ second biggest shareholder announced yesterday it would offer 1,010 Czech crowns a share in a bid to take over the spunmelter. Pegas management acknowledged it had seen the announcement and said its board will meet “shortly” to discuss the issue, urging shareholders to do nothing in the interim.

According to Pegas, “On 17 July 2017, the Company received a notification that R2G Rohan S.à r.l. was as of 13 July 2017 holding indirectly, through R2G Rohan Czech s.r.o., 694,241 shares in the Company constituting 7.92% of the share capital and of the total voting rights attached to the shares issued by the Company.” The Wood & Co. investment group holds about a quarter of outstanding Pegas shares.

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