DGAP-News: artnet AG / Key word(s): Acquisition/Acquisition artnet AG: - artnet AG receives voluntary public takeover bid from Redline Capital Management S.A. - Bid price merely represents the legally stipulated minimum value 03.09.2012 / 11:46 --------------------------------------------------------------------- Berlin, September 3, 2012 - On August 31, 2012 Luxembourg-based Redline Capital Management S.A., published the voluntary public takeover bid ('bid document') to the shareholders of artnet AG which has been reviewed and approved by the Federal Financial Supervisory Authority (BaFin) and sent it to the Management Board of artnet AG (www.artnet.com/investor-relations/takeover-bid). The takeover bid was made in the form of a cash bid at EUR 6.40 per registered share. This means that the bid price merely represents the minimum value stipulated under section 4 WpÃG-Angebotsverordnung (German Takeover Act) (cf. subparagraph 10 (b) of the bid document). The voluntary public takeover bid published by Redline Capital Management S.A. is not offering shareholders any additional premium beyond that. Subparagraph 13.1 of the bid document makes the completion of the voluntary takeover bid by Redline Capital Management S.A. conditional on the following: * minimum acceptance threshold of 56% of all artnet shares, * non-entry of certain statute changes by artnet AG in the companies' registry and * a minimum of 6,300 points in the DAX stock market index at the close of trading on the expiry date of the voluntary public takeover bid. In case of the aforementioned conditions not being met or fulfilled, those artnet shareholders who have accepted the offer, would have to bear the transaction reversal costs and expenses charged by the portfolio managing banks (cf. subparagraph 13.3 of the bid document). The Management Board and the Supervisory Board of artnet AG are convinced of the viability of their growth-oriented strategy and of artnet's growth potential and are committed to the company's continued independence. After a thorough review of the bid, the Management Board and the Supervisory Board will issue a reasoned statement on the bid within the legal deadlines and publish it on the company's website as well as in the Federal Gazette. About artnet artnet is the international transaction platform for the art market with an integrated information offering. artnet Auctions allows rapid transactions at little cost, the artnet Price Database offers objective price information and artnet Galleries provides a global market overview. In its 20-year existence, B2B company artnet has also opened up to the B2C business, while it further operates a qualified C2C business on artnet Auctions. This dynamic forms its own cycle. The artnet information services lend artnet Auctions a knowledge advantage. The auction players are potential new buyers in artnet Galleries as well as potential new subscribers to other artnet products. And on artnet Auctions, art collectors can not only buy, they can also sell. Both among experts and for private collectors, artnet is thus synonymous with efficient. www.artnet.com | www.artnet.de | www.artnet.fr artnet AG, OranienstraÃe 164, 10969 Berlin - E-Mail IR@artnet.com - Tel. +49 (30)20917820 ISIN DE000A1K0375, WKN A1K037, ART End of Corporate News --------------------------------------------------------------------- 03.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: artnet AG OranienstraÃe 164 10969 Berlin Germany Phone: +49 (0)30 20 91 78 -0 Fax: +49 (0)30 20 91 78 -29 E-mail: info@artnet.de Internet: www.artnet.de ISIN: DE000A1K0375 WKN: A1K037 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 183940 03.09.2012
DGAP-News: artnet AG: - artnet AG receives voluntary public takeover bid from Redline Capital Management S.A. - Bid price merely represents the legally stipulated minimum value
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