Klöckner-Werke AG
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 16:49 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. --------------------------------------------------------------------------- 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 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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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