Pankl Racing Systems AG

Voluntary Public Takeover Offer to the shareholders of Pankl Racing Systems AG

Business news for the stock market

Kapfenberg (pta036/20.10.2016/12:00) - October 20th, 2016

- Publication of the offer document
- Offer price: EUR 31 per Pankl-share

On 20 September 2016 Pierer Industrie AG ("bidder") has announced its intention to submit a voluntary public offer pursuant to Sections 4 et seq. Austrian Takeover Act to all shareholders of Pankl Racing Systems AG ("target company") in the course of the intended change of the trading segment from the mid market to the standard market auction of the Vienna Stock Exchange.

The Takeover Commission decided to shorten the blocking period that had been in effect pursuant to § 21 Austrian Takeover Act. Therefore, the offer document was published today.

The voluntary public offer concerns the acquisition of a total of 231,225 shares of the target company (approximately 7.34% of the share capital of the target company). The offer price amounts to EUR 31 cum dividend 2016 per non-par-value bearer share of the target company. The offer can be accepted from 20 October 2016 until 15 December 2016 (5:00 pm - Vienna time).

The offer document and the confirmation of the assessment of the offer document are published in the form of a brochure and are available as of 20 October 2016 free of charge during the regular office hours at the seat of Pankl Racing Systems AG, Industriestraße West 4, 8605 Kapfenberg, as well as at the acceptance and paying agent UniCredit Bank Austria AG, Schottengasse 6-8, 1010 Vienna. The documents are also available on the websites of the Takeover Commission (www.takeover.at), the bidder (www.piererindustrie.at) and the target company (www.pankl.com) as of 20 October 2016.

This release does neither constitute an offer to purchase nor an intimation to submit a proposal for the acquisition of securities of Pankl Racing Systems AG.

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emitter: Pankl Racing Systems AG
address: Industriestraße West 4, 8605 Kapfenberg
country: Austria
contact person: IR
phone: [phone]
e-mail: [e-mail]
website: www.pankl.com

ISIN(s): AT0000800800 (share)
stock exchanges: official trade in Vienna; open market (free market) in Frankfurt, free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf; open market in Berlin

[ source: http://www.pressetext.com/news/20161020036 ]