RSE Grundbesitz- und Beteiligungs-AG
RSE Grundbesitz- und Beteiligungs-AG: Cash compensation for squeeze out
RSE Grundbesitz und Beteiligungs-AG / Squeeze Out Release 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. ---------------------------------------------------------------------- Salzgitter Mannesmann GmbH, Salzgitter, today informed the Management Board of RSE Grundbesitz und Beteiligungs-AG, Frankfurt/Main, that it intends to set the cash compensation required in the context of the procedure to squeeze out the minority shareholders in accordance with sections 327a ff. AktG at €6.25 per RSE Grundbesitz und Beteiligungs-AG share. By way of an administrative decision dated 26 September 2007 in accordance with section 37 WpÜG, the Federal Financial Supervisory Authority (BaFin) exempted Salzgitter Mannesmann GmbH and Salzgitter AG, Salzgitter, from its obligations under section 35 WpÜG with regard to its acquisition of control in RSE Grundbesitz und Beteiligungs-AG. The BaFin made this exemption subject to Salzgitter Mannesmann GmbH paying the minority shareholders of RSE Grundbesitz und Beteiligungs-AG cash compensation of at least €11.66 per share in a squeeze-out procedure in accordance with sections 327a ff. AktG. On 26 October 2007, Salzgitter Mannesmann GmbH and die Salzgitter AG appealed against this condition and other collateral clauses of the administrative decision dated 26 September 2007. Among other things, Salzgitter Mannesmann GmbH and Salzgitter AG are claiming that they should already be exempted from the obligations of section 35 WpÜG as they acquired control of RSE Grundbesitz und Beteiligungs-AG in connection with the reconstruction of the company. If the exemption is (also) granted for this reason, the above condition would also presumably be dropped. If, after the conclusion of the appeals procedure and, if necessary, after exhausting other rights of appeal, the exemption under section 37 WpÜG still entails the condition of granting the minority shareholders compensation of more than €6.25 in the squeeze-out procedure, Salzgitter Mannesmann GmbH intends to pay the minority shareholders of RSE Grundbesitz und Beteiligungs-AG an additional payment of the amount by which the sum legally stipulated in this condition exceeds its chosen compensation of €6.25. Frankfurt/Main, 6 November 2007 The Management Board 06.11.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: RSE Grundbesitz und Beteiligungs-AG Opernplatz 2 60313 Frankfurt am Main Deutschland Phone: +49 (0)69 900 26 0 Fax: +49 (0)69 900 26 110 E-mail: info@rse-ag.de Internet: www.rse-ag.de ISIN: DE0008292079 WKN: 829207 Listed: Regulierter Markt in Berlin, Frankfurt (General Standard), Hamburg; Freiverkehr in Stuttgart, München End of News DGAP News-Service ---------------------------------------------------------------------------
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