Ad-hoc Meldungen und Investor Relations
DGAP-Adhoc: Klöckner-Werke AG: Request to squeeze out minority shareholders (Articles 327 a ff. German Stock Corporation Act)
Klöckner-Werke AG / Squeeze Out
10.03.2010 16:50
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Frankfurt/Main, March 10, 2010 - Salzgitter Mannesmann GmbH, Salzgitter,
today informed the Management Board of the company that it directly holds
51,851,147 shares of the company and thus 95.776% of the share capital.
Salzgitter Mannesmann GmbH addressed a request to the Management Board in
line with Article 327a Paragraph 1 (1) of the German Stock Corporation Act
to resolve the transfer of the shares of all other shareholders (minority
shareholders) to Salzgitter Mannesmann GmbH against the grant of an
appropriate cash consideration.
As of yesterday, the volume-weighted, domestic, average price of the
company's share in XETRA trading of Deutsche Börse AG over the last
three-month-period was EUR14.33. On the basis of a preliminary estimate,
Salzgitter Mannesmann GmbH expects that this average stock price will be
higher that the cash consideration per share calculated on the basis of the
company's enterprise value. For this reason the cash consideration for the
shareholders to be squeezed out is expected to be EUR14.33 per share.
Klöckner-Werke AG will introduce all measures necessary to implement such a
squeeze-out procedure. To save costs, the request for transfer should be
resolved in the company's Annual General Meeting. For this reason, it is
expected that the Annual General Meeting scheduled for July 9, 2010 will be
put back to a date in August 2010. The exact date of the Annual General
Meeting will be announced shortly.
The Management Board
Contact:
Klöckner-Werke AG
Andrea Spiekermann
Media/Investor Relations
Telefon: +49 (0)69 90026-510
Fax: + 49 (0)69 90026-44-510
kommunikation@kloecknerwerke.com
10.03.2010 16:50 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Klöckner-Werke AG
Postfach 17 04 55
60078 Frankfurt am Main
Deutschland
Phone: +49 (0)69 900 26 0
Fax: +49 (0)69 900 26 110
E-mail: kommunikation@kloecknerwerke.de
Internet: www.kloecknerwerke.de
ISIN: DE0006780000, DE000A0WMQY3
WKN: 678000, WKN A0WMQY
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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