ADC African Development Corporation AG
Atlas Mara publishes offer to ADC Shareholders ++ Atlas Mara makes a share-for-share offer to ADC Shareholders at 1.25 Atlas Mara shares for each ADC share, which equates to EUR 10.45 per ADC share ++ ADC will issue a reasoned statement within 14 days
ADC African Development Corporation AG / Key word(s): Mergers & Acquisitions/Offer
ADC African Development Corporation AG (ADC), ISIN DE000A1E8NW9, announces that Atlas Mara Beteiligungs AG, an indirect and fully owned subsidiary of Atlas Mara Co-Nvest Limited (Atlas Mara), has published today its offer document setting out the terms and conditions of its offer to ADC shareholders to acquire all shares in ADC at an exchange ratio of 1.25 Atlas Mara shares (to be listed on the London Stock Exchange) for each ADC share. This consideration equates to EUR 10.45 per ADC share, based on Atlas Mara’s three months average share price and associated daily currency exchange rates prior to the announcement of the intended transaction on 31 March 2014. The acceptance period expires on 31 July 2014.
The specific terms and conditions of the offer are set out in the offer document, which can be found on Atlas Mara’s website: www.atlasmara.com ADC’s Management Board welcomes the offer. Dirk Harbecke, CEO of ADC commented: “As we said in March, Atlas Mara’s founders and Board share ADC’s vision of creating a pan-African banking group. I am proud of the business we have all built at ADC and this offer is a powerful endorsement of our African platform. The management team and I are excited about the opportunity to expand the business and drive future growth.” After a comprehensive review of the terms and conditions of the offer, ADC will issue a reasoned statement (Stellungnahme), likely within the next 14 days, providing their detailed views on the offer from Atlas Mara and including a recommendation as to acceptance of the offer. This statement, as well as further information, will be made available on ADC’s website: www.african-development.com/en/investor-relations/investor-information/combination/ About ADC About Atlas Mara Contact: Investor Relations investor-relations@african-development.com T +49 69 719 12 80 119 End of Corporate News 03.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | ADC African Development Corporation AG | |
Grüneburgweg 18 | ||
60322 Frankfurt/Main | ||
Germany | ||
Phone: | +49 69 719 12 80 119 | |
Fax: | +49 69 719 12 80 115 | |
E-mail: | info@african-development.com | |
Internet: | www.african-development.com | |
ISIN: | DE000A1E8NW9 | |
WKN: | A1E8NW | |
Listed: | Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP News-Service |
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