Statement by the Independent Bid Committee of Oriflame in relation to the public offer from Walnut Bidco
This statement is made by the Independent Bid Committee of the Board of Directors of Oriflame Holding AG (the “Committee”) (“Oriflame” or the “Company”) pursuant to Rule II.19 of the Nasdaq Stockholm Takeover Rules (the “Takeover Rules”). Conclusion The Committee does not consider the full intrinsic value of the Company to be reflected in the Offer, based on the Committee’s strong belief in Oriflame, the Company’s historic ability to handle challenging market conditions, the current strategy, and Oriflame’s management. On the other hand, given the development in the Company’s key