Phoenix AG
Supervisory board of Phoenix AG approves structural measures
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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In today’s meeting, the supervisory board of Phoenix AG, Hamburg has approved
the drafts of a merger contract and a controlling- and profit distribution
agreement, which should be closed with ContiTech AG, Hanover on November 16,
2004.
In addition, the supervisory board approved the call of an extraordinary general
meeting on December 28, 2004. In this meeting, shareholders should decide on
the approval of a merger contract and a controlling- and profit distribution
agreement.
On the basis of the valuation accomplished by Ernst & Young AG, the controlling-
and profit distribution agreement requires a payment of EUR 1.27 per share
(gross EUR 1.39) of ContiTech AG to all outstanding Phoenix shareholders for
each full business year. This payment is in addition to the compensation payment
of EUR 18.89 per share, already released yesterday.
end of ad-hoc-announcement (c)DGAP 12.11.2004
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WKN: 603100; ISIN: DE0006031008; Index: SDAX
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg und München; Freiverkehr in Stuttgart
121515 Nov 04
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