Business News
Ad hoc announcement pursuant to section 15 of the German Securities Trading Act (WpHG): Squeeze-out procedure of ALTANA AG: Squeeze-out resolution entered in the Commercial Register
Friday 27. August 2010 - The resolution adopted by the Annual General Meeting of ALTANA AG (security code number 760080, ISIN DE0007600801) on June 30, 2010, regarding the transfer of shares from ALTANA AGs minority shareholders to the companys majority shareholder SKion GmbH pursuant to sections 327a ff. of the German Stock Corporation Act (AktG) has been entered in the Commercial Register of the company on August 27, 2010.
With the entry of the transfer resolution in the Commercial Register, all the shares held by the minority shareholders have been transferred to SKion GmbH by act of law in return for a cash compensation of 15.01 per share.
Consequently, the stock exchange listing of the ALTANA shares is expected to be discontinued soon. Any stock market trading which takes place until then will only be trading of the minority shareholders entitlements to cash compensation.
With the registration of the transfer resolution in the Commercial Register, the former shareholders of ALTANA who had accepted the voluntary public purchase offer of November 6, 2009, are entitled to payment of an improvement amount as stated in the offer documents.
All details concerning the payment of the fixed cash compensation as well as of the improvement amount will be published separately by SKion GmbH.
This announcement contains forward-looking statements, i.e. current estimates or expectations of future events or future results. These statements are based on beliefs of ALTANA as well as assumptions made by and information currently available to ALTANA. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made.