ADC African Development Corporation AG
ADC launches mandatory offer for all outstanding BancABC shares ++ Increased representation through pooling agreements will firm-up control ++ Financed by ADC’s largest shareholder and partner, Trafigura
ADC African Development Corporation AG / Schlagwort(e): Übernahmeangebot
ADC African Development Corporation AG (‘ADC’), ISIN DE000A1E8NW9, announces its firm intention to make a mandatory offer to all minority shareholders of its major banking asset ABC Holdings Limited, Botswana (‘BancABC’).
ADC intends to acquire all issued ordinary shares of BancABC not already owned by ADC. The mandatory offer is required by the Botswana Stock Exchange (BSE) for any shareholder owning more than 35% of a listed company in Botswana and will be issued at a price of USD 0.60 per share to BancABC shareholders listed on the Company’s Zimbabwe register and at the exchange rate equivalent of BWP 5.05 per share for BancABC shareholders listed on the Botswana register; the price at which ADC acquired a majority shareholding while acting as an underwriter of the bank’s rights issue in July 2012. A group of minority shareholders of BancABC support the opinion of an independent valuation expert appointed by the BancABC Board to not accept the mandatory offer. As such, the reduced potential size of the offer to 23% of the shareholders in BancABC is approximately EUR 26 million. The financing for the uptake of the mandatory offer has been secured from ADC’s largest (23%) shareholder and partner, Trafigura. Upon the closing of the mandatory offer, Trafigura will have a direct shareholding in BancABC and has engaged in a voting pool agreement with ADC. The mandatory offer will be made in accordance with the terms specified in the offer circular, which will be made available at the ADC website via the link as specified below on 18 December 2013. Dirk Harbecke, CEO of ADC commented: ‘The mandatory offer is an important milestone for ADC that will significantly increase ADC’s representation in BancABC, ADC’s most important asset. By engaging in pooling agreements and executing the mandatory offer, we aim to firm-up our control in BancABC and to realize our vision together with the strong BancABC Management team.’ The full joint announcement of ADC and BancABC is available for download via the following link on the ADC website: www.african-development.com/en/investor-relations/investor-information/mandatory-offer-bancabc/ About ADC Kontakt: Investor Relations investor-relations@african-development.com T +49 69 719 12 80 119 Ende der Corporate News 13.12.2013 Veröffentlichung einer Corporate News/Finanznachricht, übermittelt durch die DGAP – ein Unternehmen der EQS Group AG. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen. Medienarchiv unter http://www.dgap-medientreff.de und http://www.dgap.de |
Sprache: | Deutsch | |
Unternehmen: | ADC African Development Corporation AG | |
Grüneburgweg 18 | ||
60322 Frankfurt/Main | ||
Deutschland | ||
Telefon: | +49 69 719 12 80 119 | |
Fax: | +49 69 719 12 80 999 | |
E-Mail: | info@african-development.com | |
Internet: | www.african-development.com | |
ISIN: | DE000A1E8NW9 | |
WKN: | A1E8NW | |
Börsen: | Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open Market (Entry Standard) | |
Ende der Mitteilung | DGAP News-Service |
244615 13.12.2013 |