Business news for the stock market
Pierer Industrie AG:
Pierer Industrie AG exceeds the 25% threshold of SHW AG
Wels (pta007/11.08.2017/09:00) -
THIS ANNOUNCEMENT IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION IN THE USA, CANADA, JAPAN OR AUSTRALIA.
- After the expiration of the regular acceptance period, Pierer Industrie AG holds 25.7% of SHW
- Statutory extension period ends on August 25, 2017
- Further acceptance declarations within the extension period expected
During the regular acceptance period of the takeover offer to the shareholders of SHW AG, 435,285 shares have already been delivered. This represents an acceptance rate of about 6.76% of the share capital and the voting rights. Thus, Pierer Industrie AG will exceed the important threshold of 25% in total at SHW.
The statutory extension period of the voluntary takeover offer ends on August 25, 2017. Due to the current market development, Stefan Pierer, CEO of Pierer Industrie AG, expects further deliveries into the takeover offer. The execution of the takeover offer is planned on September 4, 2017. As already announced, Pierer Industrie AG will contact the Management Board of SHW AG, immediately after the expiration of the extension period.
About the Pierer Group:
The Pierer Group is a leading European vehicle group with a focus on the global motorcycle segment and the automotive high-tech component sector. The Group currently employs more than 5,200 people worldwide with a group turnover of more than EUR 1.5 billion.
Additional Information (Disclaimer)
This announcement is for information purposes only and does not constitute an offer to buy or an invitation to sell securities. The offer to purchase SHW shares is subject exclusively to the terms and conditions specified by Pierer Industrie AG in the offer document and the amendment to the offer.
This press announcement does not release the respective SHW shareholder from his/her obligation to examine the information contained in the offer document and in the amendment to the offer and - taking into account all available sources of information, all individual circumstances of the shareholder (in particular with regard to the individual tax situation), the applicable statutory provisions for the shareholder and the personal assessment of the future development of the share price of the SHW share - to make his/her own decision about whether or not to accept the takeover offer.
Pierer Industrie AG points out that it is not in a position and is not obliged to verify whether the SHW shareholders comply with all obligations of the individually applicable statutory provisions upon acceptance of the takeover bid. Shareholders of SHW wishing to accept the takeover offer should examine whether the acceptance of the takeover offer is compatible with legal obligations arising out of their personal circumstances (e.g., sales restrictions). Furthermore, Pierer Industrie AG recommends that all shareholders subject to the laws of a foreign jurisdiction may obtain information about and comply with the applicable laws. PIAG assumes no liability for the decision of a shareholder and recommends that each shareholder of SHW obtains the necessary individual tax and legal advice, if necessary.
Pierer Industrie AG
||Mag. Michaela Friepeß
||+43 7242 69402