PETROTEC AG / Offer/Letter of Intent
31.08.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc announcement pursuant to section 15 German Securities Trading Act
(WpHG)
Petrotec AG: Public takeover offer by IC Green Energy Ltd. to the
shareholders of Petrotec AG; agreement on the sale of shares held by
Petrotec S.à r.l. in Petrotec AG to IC Green Energy Ltd., announcement of
the resignation of the Chairman of the Supervisory Board of Petrotec AG.
Borken, August 31st, 2008 The Petrotec AG Management Board was informed
today that IC Green Energy Ltd., Tel Aviv, Israel, intends to extend a
public takeover offer pursuant to section 10 German Tender Offer Act (WpÜG)
to the Petrotec AG shareholders. We refer to the publication of IC Green
Energy Ltd. today pursuant to § 10 WpÜG under www.ic-greenenergy.com and
accordingly under www.dgap.de. The offer will be made subject to conditions
still to be announced by IC Green Energy Ltd. and contained in its offer
document of; will foresee a purchase price of EUR 2.70 and will be
published under www.ic-greenenergy.com. The Petrotec AG boards can
therefore at this point in time not yet issue a statement on the offer.
Moreover the Company was informed that Petrotec S.à r.l. has today reached
an agreement with IC Green Energy Ltd. on the sale of a total of 4,497,431
shares in Petrotec AG (around 42.1 % of the registered share capital) at a
purchase price to be paid in cash of EUR 2.70 per share. The consummation
of this agreement is subject to antitrust approvals from the competent
authorities.
On the occasion of the IC Green Energy Ltd.'s acquisition of Petrotec AG
shares held by Petrotec S.à r.l. by IC Green Energy Ltd., the chairman of
Petrotec AG's Supervisory Board, Dr. Bernd Malmström today informed the
Petrotec AG Supervisory and Management Board that he is resigning from his
office as chairman and member of the Supervisory Board with effect as of
the transfer of Petrotec AG shares held by Petrotec S.à r.l. to Petrotec AG
to IC Green Energy Ltd. The Management Board of Petrotec AG regrets the
decision and thanks Dr. Malmström for his efforts on behalf of the Company
and the at all times constructive cooperation.
Disclaimer
This press information constitutes neither an offer to buy or to sell
shares or other securities issued by Petrotec AG, nor a solicitation of
offers to buy or subscribe to securities. The shares offered during the IPO
have already been placed.
About PETROTEC
Since November 2006, Petrotec AG has been listed in the Prime Standard
segment of the Frankfurt Stock Exchange under WKN PET111, ISIN
DE000PET1111. Petrotec is one of the pioneers of the German biodiesel
industry. The company started as early as 1998 with the development of a
process to produce biodiesel from used frying and deep-frying oil.
Petrotecs first industrial biodiesel production plant went turn-key in
2000. Petrotecs proprietary technology is capable of transforming virgin
vegetable oils such as rapeseed, soybean or palm oil as well as
hard-to-process oils and fats such as used cooking oils, animal fats and
oils or fish oil in a single fully continuous process into biodiesel and,
thus, is truly a multi-feedstock technology. The annual capacity of the
plant in Borken (Westphalia), Germany, is 85,000 t biodiesel. In the first
half of 2008 a second production has commenced operations in the deep-sea
port of Emden with an annual capacity of 100,000 t. Unlike many of its
competitors, Petrotec in its ongoing operations has for years now primarily
produced biodiesel from used cooking oils in a fully continuous process.
Treated used cooking oils as feedstock for biodiesel production is up to 50
percent cheaper to procure than the rapeseed oil predominantly used by
Petrotec's rivals in Europe. This enhances Petrotec's cost-competitiveness
over other manufacturers of biodiesel, as 70-90 percent of biodiesel
production costs relate to raw materials.
For further information, please contact
PETROTEC AG
Falk von Kriegsheim
Head of Investor Relations / Public Relations
Fürst-zu-Salm-Salm Strasse 18
46325 Borken
Germany
Tel +49 (0)2862 910060
Fax +49 (0)2862 9100760
Mobil +49 (0)173 6291344
f.kriegsheim@petrotec.de
www.petrotec.de
End of document
DGAP 31.08.2008
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Language: English
Issuer: PETROTEC AG
Fürst-zu- Salm-Salm-Str. 18
46325 Borken-Burlo
Deutschland
Phone: +49 (0)2862 9100 19
Fax: +49 (0)2862 9100 99
E-mail: info@petrotec.de
Internet: www.petrotec.de
ISIN: DE000PET1111
WKN: PET111
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: PETROTEC AG: Public takeover offer by IC Green Energy
| Source: EQS Group AG