DGAP-Adhoc: PETROTEC AG: IC Green Energy files application for exemption from mandatory offer

PETROTEC AG / Offer/Restructure of Company

09.12.2008 

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 according to § 15 WpHG

Petrotec AG: IC Green Energy Ltd. files an application for an exemption
from its obligation to publish and submit a mandatory takeover offer
according to §§ 37 WpÜG, 8, 9 sentence 1 no. 3 WpÜG Offer Ordinance

Borken, December 9, 2008 – Petrotec AG (ISIN DE000PET1111) has been
informed today by its new major shareholder IC Green Energy Ltd., that IC
Green Energy Ltd., which is holding 42.83% of the voting rights in Petrotec
AG, has filed yesterday with the German Federal Financial Supervisory
Authority (BaFin) an application for an exemption from its obligation to
publish and submit a mandatory takeover offer according to § 37 of the
German Securities Acquisition and Takeover Act (WpÜG) in conjunction with
§§ 8, 9 sentence 1 no. 3 of the WpÜG Offer Ordinance (release in connection
with the financial restructuring of the company). Such an exemption by the
BaFin requires, among others, the company's need for a financial
restructuring and the presence of risks endangering the existence of
Petrotec AG. In this context, the company repeatedly reported on its
strained cash position. If the BaFin would grant such an exemption, IC
Green Energy Ltd. would not be obliged to extend a takeover offer to
acquire the shares of the company's other shareholders.

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.
Petrotec’s first industrial biodiesel production plant went turn-key in
2000. Petrotec’s 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
Mr Falk von Kriegsheim
Head of Investor Relations / Corporate Communications
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
DGAP 09.12.2008 
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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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