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Velcro Industries N.V. Announces Deposit by Cohere Limited with Central Bank of the Netherlands Antilles for Remaining Shares.

CURACAO, Netherlands Antilles Netherlands Antilles, island group, an autonomous part of the Netherlands (2005 est. pop. 220,000), 371 sq mi (961 sq km), West Indies. Formerly known as the Dutch West Indies and Netherlands West Indies, they are divided into two groups. , June 17 /PRNewswire-FirstCall/ -- Velcro Industries N.V. ("VINV") , holding company of the Velcro companies and the industry leader in hook and loop fasteners, today announced that Cohere cohere (kōhēr´),
v to stick together, to unite, to form a solid mass.
 Limited ("Cohere") has deposited funds with the Central Bank of the Netherlands Antilles The Bank of the Netherlands Antilles (Dutch: Bank van de Nederlandse Antillen) is the central bank of the Netherlands Antilles See also
  • Economy of the Netherlands Antilles
  • Netherlands Antillean gulden
 to pay for all 183,214 remaining VINV shares not previously tendered to Cohere (the "Deposit").

VINV has been notified that the Deposit, in the amount of approximately US$3.9 million, was transferred by Cohere to Bank van de Nederlandse Antillen (or the Central Bank of the Netherlands Antilles) on June 15, 2009. VINV understands that as a consequence of the Deposit ownership of all remaining VINV shares has transferred to Cohere and the former holders of VINV shares are only entitled to receive payment for their shares from the Deposit. Former holders of shares should contact Bank van de Nederlandse Antillen, Simon Bolivar Plein 1, Willemstad, Curacao, Netherlands Antilles (Attn: Legal Department), telephone (599 9) 434-5500; fax (599 9) 461-5004, with requests for release of funds from the Deposit as payment for shares or questions regarding the Bank's procedure for release and payment of funds.

On June 16, 2009, VINV instructed the NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
 to terminate trading of VINV common shares. VINV is instructing its transfer agent to stop effecting transfers in the shares.

About Velcro Industries N.V.

Velcro Industries N.V. is incorporated and domiciled in Curacao, Netherlands Antilles as a Naamloze Vennootschap Naamloze Vennootschap (usually abbreviated NV) is the Dutch terminology for a public limited liability corporation. The company is owned by shareholders, and the company's shares are not registered to certain owners, so that they may be  (public limited liability company) and acts as the holding company of the Velcro companies, which are primarily involved in the manufacturing and sales of VELCRO(R) and TEXACRO(R) brand fasteners, ULTRA-MATE(R) brand hook fasteners, and ONE-WRAP(R) brand straps throughout the world. For more information about Velcro Industries N.V., including annual and quarterly reports, proxy statements and other materials required to be electronically published under Rule 12g3-2(b) of the U.S. Securities Exchange Act of 1934, visit http://www.velcroindustriesnv.com/.

Forward-Looking Statements

This press release and the documents referenced herein may contain "forward-looking" statements and information, which involve risks and uncertainties. Actual future results may differ materially. Statements indicating that VINV "expects," "estimates," "believes," "is planning" or "plans to" are forward-looking, as are other statements concerning future financial results or other events that have not yet occurred. There are several important factors that could cause actual results or events to differ materially from those anticipated by the forward-looking statements.

CONTACT: Peter A. Pelletier, 1-800-225-0180, for Velcro Industries N.V.

Web Site: http://www.velcroindustriesnv.com/
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Publication:PR Newswire
Date:Jun 17, 2009
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