EXchange Investors N.V.
EXchange Investors generates Positive Result for Hedge Funds with Investment in Degussa
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Amsterdam, 15.09.2006. EXchange Investors, which has acted as a manager and
consultant for the investment in its Degussa funds, will close the
investment with a positive result. After Kromschröder and Tarkett, this is
already the third successful transaction of the listed hedge fund manager
within just two months. The generated return was attributable to a
combination of investment and activism strategy.
Directly after acquisition of shares of Degussa AG, the funds for which
EXchange Investors acts as a manager and consultant submitted these shares
in acceptance of the public tender offer of the RAG for the price of 42,66
euros per share and thus purchased an adjustment option in accordance with
the offer conditions. EXchange Investors expected the quotation price to be
adjusted as a result of the legal dispute with the squeeze-out plans of the
RAG. Know RAG reached a settlement at the Düsseldorf district court. This
settlement includes, among other things, the adjustment expected by
EXchange Investors, which – with 2,45 euros per share submitted –
corresponds to a return “on equity basis” of the EXchange Investors’ funds
of approximately 200 percent. The equity is calculated based on the
purchase price of the share plus costs and minus reimbursement of the RAG
from the tender offer.
EXchange Investors is the leading supplier of hedge fund management and
investigative capital strategies with a focus on Germany. The activities
range from classic hedge funds strategies to activism strategies.
CUSIP number: A0JD8H | ISIN: NL0000187912 | Listed: Frankfurt (Germany)
Contact
EXchange Investors
CEO Frank Scheunert
Orlyplein 85
1043 DS Amsterdam
Netherlands
Phone: +31 20 4037-485
Fax: +31 20 4037-486
E-Mail: info@exchange-investors.com
Internet: www.exchange-investors.com
(c)DGAP 15.09.2006
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