DGAP-News: ADC African Development Corporation AG / Key word(s):
Offer/Merger
Over 95% of ADC shareholders accept the Atlas Mara offer ++ ADC and
Atlas Mara in top position to realize joint vision of a premier
sub-Saharan financial services group

06.08.2014 / 09:26

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ADC African Development Corporation AG ("ADC") is pleased to announce that
the voluntary public offer by Atlas Mara regarding the acquisition of all
no-par value registered shares in ADC for 1.25 shares of Atlas Mara
Co-Nvest Limited per ADC share expired on 31 July 2014 and that 9,010,130
of ADC's shares have been tendered, corresponding to 95.17% of the share
capital and voting rights of ADC.

Dirk Harbecke, Founder and CEO of ADC commented: "We are excited to join
the Atlas Mara Group and to combine ADC's existing portfolio and
established banking platform with Atlas Mara's strengths in order to
realize our joint strategic objective of building the premier sub-Saharan
financial services group. The extremely high uptake of the offer confirms
that our shareholders follow our vision and have huge confidence in Atlas
Mara's and ADC's abilities to build strong, innovative and highly
profitable financial institutions. We look forward to working with the
Atlas Mara team to build the future of banking in Africa."

Additional conditions precedent relating to regulatory clearances contained
within the Offer document are currently being fulfilled after which time
the Offer will be settled with readmission of the enlarged Atlas Mara Group
(including the shares that will be issued to the tendering ADC
shareholders) taking place shortly thereafter. The Offer document and
additional information can be found on the Atlas Mara website:
www.atlasmara.com

About ADC
ADC African Development Corporation AG (ADC) (ISIN: DE000A1E8NW9;
Bloomberg: AZC.GR, www.african-development.com), is a German listed,
emerging pan-African banking group. ADC has a strong footprint in Southern
Africa via BancABC, a regional commercial banking platform operating in
Botswana, Mozambique, Tanzania, Zambia and Zimbabwe as well as exposure to
West Africa via Union Bank of Nigeria. In addition to its banking
operations, ADC has a private equity portfolio active in growth markets
across sub-Saharan Africa. ADC follows an active management approach with a
team of experts that comprise operational banking management, investment
banking and merchant banking expertise.

About Atlas Mara 
Atlas Mara was formed by Bob Diamond, Founder of Atlas Merchant Capital LLC
and Ashish J. Thakkar, Founder of Mara Group Holdings Limited, and listed
on the main market of the London Stock Exchange in December 2013. The
stated strategy of the Company is that, following an acquisition, it will
operate the acquired business and implement a strategy with a view to
generating value for its shareholders through operational improvements as
well as potentially through additional complementary acquisitions. The
Directors believe that there are significant gaps in the financial services
sector in Africa today at a critical period of growth, including the need
for capital created by European financial institutions retreating to their
home territories due to the sovereign debt crisis and the Basel III
regulatory framework. This situation presents opportunities for Atlas Mara
to create a financial institution that provides leadership, liquidity,
access to investors, product innovation, and technology to support economic
growth and strengthen financial systems in Africa. For more information,
visit the Company's website at www.atlasmara.com.

Contact:
Investor Relations
investor-relations@african-development.com
T +49 69 719 12 80 119



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Language:    English                                               
Company:     ADC African Development Corporation AG                
             Grüneburgweg 18                                       
             60322 Frankfurt/Main                                  
             Germany                                               
Phone:       +49 69 719 12 80 119                                  
Fax:         +49 69 719 12 80 115                                  
E-mail:      info@african-development.com                          
Internet:    www.african-development.com                           
ISIN:        DE000A1E8NW9                                          
WKN:         A1E8NW                                                
Listed:      Freiverkehr in Berlin, Düsseldorf; Frankfurt in Open  
             Market (Entry Standard)                               
 
 
End of News    DGAP News-Service  
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