RSE Grundbesitz- und Beteiligungs-AG
RSE Grundbesitz- und Beteiligungs-AG: squeeze-out of minority shareholders (sections 327 a ff. AktG)
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 (RSE AG), Frankfurt/Main, that it directly and indirectly holds around 97.3% of shares in RSE AG. Salzgitter AG, Salzgitter, - as the parent company of Salzgitter Mannesmann GmbH – holds 2.25% in RSE AG. Salzgitter Mannesmann GmbH also notified the Management Board of RSE AG that it is calling for the Annual General Meeting of RSE AG to resolve the transfer of the shares held by its other shareholders to Salzgitter Mannesmann GmbH in accordance with Section 327a (1) sentence 1 AktG. RSE AG will initiate all necessary measures to effect such a transfer procedure and is expected to convene an Extraordinary General Meeting in December 2007 to resolve the transfer of minority shareholders' shares to Salzgitter Mannesmann GmbH. Salzgitter Mannesmann GmbH also informed the Management Board of RSE AG that the Federal Financial Supervisory Authority (BaFin) has exempted Salzgitter Mannesmann GmbH and its parent company, Salzgitter AG of their obligations to publish that they have gained control of RSE AG and to make a mandatory acquisition offer to the other shareholders of RSE AG for their shares in accordance with Section 37 (1) WpÜG by way of an administrative decision dated 26 September 2007. Among other things, this administrative decision by the BaFin is subject to the condition that Salzgitter Mannesmann GmbH pays the minority shareholders of RSE AG cash compensation of at least €11.66 per share in RSE AG in a squeeze-out procedure in accordance with sections 327a ff. AktG. Salzgitter Mannesmann GmbH is currently considering whether it will proceed in disregarding this condition as it assumes that the true value of the shares in RSE AG is significantly less than €11.66 per share. Frankfurt/Main, 4 October 2007 The Management Board 04.10.2007 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: Amtlicher Markt in Berlin, Frankfurt (General Standard), Hamburg; Freiverkehr in Stuttgart, München End of News DGAP News-Service ---------------------------------------------------------------------------
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