elexis AG: Statement of the Supervisory Board pursuant to section 27 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- undÜbernahmegesetz - WpÜG) on the tender offer by SMS GmbH
(firmenpresse) - elexis AG / Key word(s): Enterprise/
elexis AG: Statement of the Supervisory Board pursuant to section 27
of the German Securities Acquisition and Takeover Act
(Wertpapiererwerbs- undÜbernahmegesetz - WpÜG) on the tender offer by
SMS GmbH
DGAP-Media / 29.06.2011 / 15:18
Statement of the Supervisory Board pursuant to section 27 of the German
Securities Acquisition and Takeover Act (Wertpapiererwerbs- undÜbernahmegesetz - WpÜG) on the tender offer by SMS GmbH
*Supervisory Board deems the tender offer of SMS GmbH principally
advantageous for elexis AG from a strategic point of view
*Supervisory Board deems the offer price not adequate within the meaning of
section 31 WpÜG and recommends to the shareholders not to accept the offer
Wenden, June 29, 2011 - Today, the Supervisory Board of elexis AG has
issued its reasoned statement pursuant to section 27 WpÜG on the tender
offer by SMS GmbH published on June 15, 2011.
Following an in-depth review, the Supervisory Board has reached the
conclusion that the tender offer of SMS GmbH is principally advantageous
for elexis AG from a strategic point of view.
However, the Supervisory Board is of the opinion that the current and
future strong position of elexis AG justifies the expectation of a
sustainable and longterm positive development of turnover and profit and
that the company can thus offer a considerable value and potential for
stock price advance in a medium and longterm perspective. In the view of
the Supervisory Board, the offer price does not sufficiently reflect this
potential. Against this background, the Supervisory Board deems the offer
price of EUR 19.00 not adequate from a financial perspective within the
meaning of section 31 WpÜG and thus does not recommend to accept the offer.
The assessment of the offer price is supported by an independent fairness
opinion prepared by Freitag&Co. GmbH.
The non-binding English translation of the full reasoned statement of the
Supervisory Board of elexis AG pursuant to section 27 WpÜG is available for
inspection on the website of the company under www.elexis.de in the
'Investor Relations / Tender Offer SMS GmbH' section. Additionally, the
statement is kept available for free-of-charge distribution by elexis AG
under the address Industriestraße 1, 57482 Wenden (phone: +49 (0)2762 /
612-130, fax: +49 (0)2762 / 612-135, e-mail: info(at)elexis.de. A
corresponding indicative announcement (Hinweisbekanntmachung) has been
published in the German electronic Federal Gazette (elektronischer
Bundesanzeiger) of June 29, 2011.
End of Media Release
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Language: English
Company: elexis AG
Industriestraße 1
57482 Wenden
Deutschland
Phone: +49 (0)2762 612 - 130
Fax: +49 (0)2762 612 - 135
E-mail: eicke(at)elexis.de
Internet: www.elexis.de
ISIN: DE0005085005
WKN: 508500
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP-Media
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130187 29.06.2011
Datum: 29.06.2011 - 15:18 Uhr
Sprache: Deutsch
News-ID 34500
Anzahl Zeichen: 0
contact information:
Kategorie:
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