CHORUS Clean Energy AG
Capital Stage AG publishes exchange offer for shares in CHORUS Clean Energy AG – acceptance period begins
DGAP-News: CHORUS Clean Energy AG / Key word(s): Merger PRESS RELEASE Capital Stage AG publishes exchange offer for shares in CHORUS Clean Energy AG – acceptance period begins – Merger strengthens market position of future company – CHORUS shareholders benefit from attractive premium – Major shareholder and board members of CHORUS accept the offer Neubiberg/Munich, July 28, 2016 – Today, Capital Stage AG (“Capital Stage”) published the offer document for its public exchange offer to acquire all outstanding shares of CHORUS Clean Energy AG (“CHORUS”). CHORUS shareholders can exchange three (3) CHORUS shares for five (5) Capital Stage shares. This requires a written notice to the respective custodian bank. The acceptance period will end at midnight (CET) on September 16, 2016 as long as it is not extended in accordance with the statutory provisions of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz/WpÜG). An announcement will be published immediately in the event of such an extension. Through the combination, the combined company will have a leading position as an independent operator of solar and wind parks. The joint capacity of more than one gigawatt matches the output of a typical nuclear power plant and suffices to provide more than half a million households with power. Together, the companies have already today a strong position in the core markets Germany, Italy and France, which are complemented by further plants in the UK, Austria, Sweden and Finland. The joint company will have a balanced, broadly diversified portfolio of solar parks, which account for approximately 60 percent of current total capacity, and wind parks, which contribute the remaining 40 percent of current total capacity. With a share of almost 50 percent of total capacity, Germany remains the largest and most important market. “We are positive about the offer from Capital Stage AG and very confident about the future prospects of a joint company. That is why my colleagues on the Management Board, Heinz Jarothe, Helmut Horst and myself as well as the Chairman of the Supervisory Board, company founder and largest CHORUS shareholder Peter Heidecker have contractually agreed to exchange our CHORUS shares, which account for around 15 percent of all CHORUS shares, for shares in Capital Stage AG,” says Holger Götze, CEO of CHORUS Clean Energy AG. Together, CHORUS and Capital Stage AG want to take an active role in the consolidation of the industry and create the basis for further growth. The business combination improves the positioning for new acquisitions and the entry into new geographical regions in- and outside Europe. Attractive premium for approving shareholders The share will gain attractiveness with the combination of the two companies – not only due to the increased free float and trading volume. In the medium term, the combined company aims to move up to the MDAX, increasing the share’s visibility among domestic and foreign investors. The shareholder-friendly dividend policy will be continued. Minimum acceptance ratio of CHORUS investors required Further Information About CHORUS _______________________ Contact:
2016-07-28 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | CHORUS Clean Energy AG | |
Prof.-Messerschmitt-Straße 3 | ||
85579 Neubiberg / Munich | ||
Germany | ||
Phone: | +49 (0)89 442 30 60 – 0 | |
Fax: | +49 (0)89 442 30 60 – 11 | |
E-mail: | info@chorus.de | |
Internet: | www.chorus-gruppe.de | |
ISIN: | DE000A12UL56 | |
WKN: | A12UL5 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |