CHORUS Clean Energy AG
CHORUS Clean Energy AG: Management Board and Supervisory Board welcome takeover offer from Capital Stage AG
DGAP-News: CHORUS Clean Energy AG / Key word(s): Merger/Statement PRESS RELEASE CHORUS Clean Energy AG: Management Board and Supervisory Board welcome takeover offer from Capital Stage AG Neubiberg/Munich, August 4, 2016 – The Management Board and Supervisory Board of CHORUS Clean Energy AG (“CHORUS”) published their statement pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG) following their detailed examination of the public exchange offer from Capital Stage AG (“Capital Stage”). In it, the members of both boards are of the opinion that the offer and the objectives connected with it are in the best interest of the company, its shareholders and employees. They therefore recommend shareholders to accept the offer. Capital Stage published the offer document for its public exchange offer to acquire all outstanding shares of CHORUS Clean Energy AG on July 28, 2016. CHORUS shareholders can exchange three (3) CHORUS shares for five (5) Capital Stage shares. The implied offer price amounts to 11.50 Euros1 per CHORUS share, which corresponds to an attractive premium of 36 percent2. The Management and Supervisory Board of CHORUS affirm in their statement that the compensation offered is appropriate both in terms of the liquidity of the Capital Stage share and the amount of compensation offered. Alongside of their own analysis, the company obtained a fairness opinion to assess the appropriateness of the offer from a financial perspective. Members of the Management Board and Chairman of the Supervisory Board, company founder and largest CHORUS shareholder, Peter Heidecker, have already tendered their stake, which amounts to roughly 15 percent of all CHORUS shares, for shares in Capital Stage. The statement is available for download on the company website at www.chorus.de >Investor Relations >Public Takeover Offer of Capital Stage AG.
About CHORUS ______________________
2016-08-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | CHORUS Clean Energy AG | |
Prof.-Messerschmitt-Straße 3 | ||
85579 Neubiberg / Munich | ||
Germany | ||
Phone: | +49 (0)89 442 30 60 – 0 | |
Fax: | +49 (0)89 442 30 60 – 11 | |
E-mail: | info@chorus.de | |
Internet: | www.chorus-gruppe.de | |
ISIN: | DE000A12UL56 | |
WKN: | A12UL5 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |