Domination agreement between GENEART AG and Applied Biosystems Deutschland GmbH concluded, compensation fixed at EUR 14.60 per share, guaranteed gross dividend fixed at EUR 0.99 per share
Regensburg/Darmstadt, September 27, 2010 - Applied Biosystems Deutschland GmbH has informed GENEART AG, that the cash compensation for the transfer of shares of the remaining shareholders (minority shareholders) of GENEART AG to Applied Biosystems Deutschland GmbH (squeeze out) has been fixed at EUR 14.60 per share.
Therewith Applied Biosystems Deutschland GmbH specifies its request made on August 3, 2010 according to section 327a para. 1 German Stock Corporation Act (Aktiengesetz, AktG), to let the general meeting of the company resolve on the transfer of the remaining shares to the major shareholder in return of an adequate cash compensation (squeeze out). At the extraordinary general meeting of GENEART AG, planned to be held on November 12, 2010 in Regensburg, the respective resolution shall be adopted.
On September 27, 2010, GENEART AG and Applied Biosystems Deutschland GmbH concluded a domination agreement (sections 291 et seq. AktG) with GENEART AG as dominated company and Applied Biosystems Deutschland GmbH as dominating company.
The compensation per share amounts to EUR 14.60 and the guaranteed gross dividend per share to EUR 0.99. The domination agreement still requires the consent of the general meeting. At the extraordinary general meeting of GENEART AG, planned to be held on November 12, 2010 in Regensburg, the respective resolution shall be adopted.
The expert´s opinions of PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft assess the company value of GENEART AG to roughly TEUR 59,561 for the determination of an appropriate compensation for the conclusion of the domination agreement and the planned transfer of the remaining shares of the minority shareholders. This leads to a value of roughly EUR 13.27 per share. During the reference period from May 3, 2010 to August 2, 2010, the weighted average stock exchange price amounted to EUR 14.60. Herewith the appropriate compensation per share of GENEART AG in the context of the transfer of shares according to sections 327a et seq. AktG and in the context of the conclusion of the domination agreement according to section 305 AktG amounts to EUR 14.60.
For further inquiries, please contact:
Dr. Karoline Stürmer
GENEART AG
Josef-Engert-Str. 11, 93053 Regensburg, Germany
Phone: +49-(0)941-942 76-417
Fax: +49-(0)941-942 76-711
ir@geneart.com www.geneart.com
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