DGAP-News: Atlas Mara increases squeeze-out price for ADC


ADC African Development Corporation AG  / Key word(s): Squeeze Out

28.01.2015 20:31

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this
announcement. 

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On 17 December 2014, ADC African Development Corporation AG (ADC) had
announced that Atlas Mara Beteiligungs AG (Atlas Mara) fixed the cash
compensation to be paid to the minority shareholders pursuant to sec. 327a
German Stock Corporation Act (AktG) in the course of the squeeze-out at EUR
9.36 per ADC share.

Now Atlas Mara informed ADC that the cash compensation will be increased by
EUR 0.36 to EUR 9.72 per ordinary share of ADC. According to Atlas Mara,
the increase of the cash compensation is due to a decrease of the risk free
interest rate relevant for the determination of the cash compensation,
which occurred after completion of the valuation. The cash compensation for
the option rights remains unchanged.

The extraordinary general meeting of ADC to resolve upon the squeeze-out is
scheduled for 29 January 2015.

About ADC
ADC African Development Corporation AG (ADC) (ISIN: DE000A1E8NW9;
Bloom-berg: AZC.GR; www.african-development.com) is a German open market
(Entry Standard) listed holding company with investments in sub-Saharan
Africa. ADC has a strong footprint in Southern Africa via BancABC, a
regional commercial banking group operating in Botswana, Mozambique,
Tanzania, Zambia and Zimbabwe as well as in West Africa via Union Bank of
Nigeria. Parallel to its banking operations, ADC has a private equity
portfolio active in growth markets across sub-Saharan Africa. ADC is
indirectly majority-owned by Atlas Mara Limited which is listed on the main
market of the London Stock Exchange. For more information, visit Atlas Mara
Limited's website at www.atlasmara.com.

About Atlas Mara
Atlas Mara Beteiligungs AG is an indirect and fully owned subsidiary of
Atlas Mara Limited. Atlas Mara Limited 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. Atlas Mara Limited's strategy is to create
sub-Saharan Africa's premier financial services institution through a
combination of its experience, expertise and access to capital, liquidity
and funding. The goals are to combine the best of global institutional
knowledge with extensive local insights and experience and to support
economic growth and financial inclusion in the countries in which the
company operates. 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


28.01.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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 Announcement                             DGAP News-Service
 
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