Ruhrgas Industries GmbH
Ruhrgas Industries GmbH english
Announcement of Decision to make a Tender Offer
Corporate-news announcement processed and sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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Announcement of Decision to make a Tender Offer
Offeror:
Ruhrgas Industries GmbH
Huttropstr. 60
45138 Essen
GERMANY
Target Company:
G. Kromschröder Aktiengesellschaft
Bohmter Straße 11
49074 Osnabrück
GERMANY
ISIN DE 0006334006; formerly German Securities Identification Number
(Wertpapier-Kennummer) 633 400
On 15 May 2003, Ruhrgas Industries GmbH decided to make a public tender offer
to the outside shareholders in G. Kromschröder Aktiengesellschaft for the
purchase of their no-par value bearer shares in G. Kromschröder
Aktiengesellschaft. The shares (ISIN DE 0006334006; formerly German Securities
Identification Number 633 400) will be purchased at a price of Euro 12.00 per
share. Ruhrgas Industries GmbH does not intend to make the tender offer subject
to any condition precedent, e.g. the achievement of an acceptance threshold.
The terms and conditions of the tender offer will be contained in an offering
document that will be made available to shareholders
Ruhrgas Industries GmbH is a subsidiary of Ruhrgas AG. Directly and via its
subsidiaries, Ruhrgas Industries GmbH already holds 14,749,664 of the total
15,912,000 no-par value shares in G. Kromschröder Aktiengesellschaft, which
corresponds to an amount of shareholding of approximately 93%. With the tender
offer, Ruhrgas Industries GmbH intends to increase its shareholding in G.
Kromschröder Aktiengesellschaft, the business activities of which fall within
Ruhrgas Industries GmbH’s core business areas. The tender offer affords the
outside shareholders the opportunity to dispose of their shares in G.
Kromschröder Aktiengesellschaft for an attractive purchase price despite a
relatively illiquid market. Ruhrgas Industries GmbH will decide only in the
future whether it will initiate further steps for increasing its shareholding
in G. Kromschröder Aktiengesellschaft after expiration of the acceptance
period. At present, Ruhrgas Industries GmbH assumes that respective steps will
not be initiated this year even if Ruhrgas Industries GmbH should decide to
execute such steps.
Once the Federal Financial Supervisory Authority has permitted publication, the
offering document for the tender offer will be available at Commerzbank AG, ZGS-
CMAD, 60261 Frankfurt am Main, Germany, and be published in English and German
by way of posting on the internet under http://www.ruhrgasindustries.com. The
publication of the offer document is expected during the second half of June
2003.
Ruhrgas Industries GmbH reserves the right to purchase shares in G.
Kromschröder Aktiengesellschaft outside of the tender offer, as permitted under
German law. The offering document and announcements posted on the internet
under http://www.ruhrgasindustries.com will contain further information about
any such purchases outside the tender offer.
Ruhrgas Industries GmbH expects to make the tender offer available to
shareholders in the United States in reliance on the “Tier 1” exemption from
the full tender-offer rules as provided by Rule 14d-1(c) under the U.S.
Securities Exchange Act of 1934.
Listed: G. Kromschröder Aktiengesellschaft: Official Market in Düsseldorf,
Hannover und Berlin;
Unofficial Regulated Market in Frankfurt und Hamburg
end of message, (c)DGAP 16.06.2003
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WKN: ; ISIN: XF000DGAP009; Index:
Listed:
161200 Jun 03
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