EQS-News

Yankuang Energy Group becomes new strategic core shareholder of SMT Scharf AG

EQS-News: SMT Scharf AG / Key word(s): Mergers & Acquisitions Yankuang Energy Group becomes new strategic core shareholder of SMT Scharf AG 01.03.2024 / 10:31 CET/CEST The issuer is solely responsible for the content of this announcement.  Yankuang Energy Group becomes new strategic core shareholder of SMT Scharf AG

• Yankuang Energy Group Company Limited acquires a total of approx. 52.66 % of SMT Scharf AG
• As a major, large-scale Chinese energy company, Yankuang specialises in the manufacture of coal mining equipment and provision of related services
• Admission of the shares to the Regulated Market planned

Hamm, 01 March 2024 - SMT Scharf AG (WKN: A3DRAE; ISIN: DE000A3DRAE2), a leading global provider of customised transport solutions and logistics systems for the underground mining industry, has announced that its core shareholders, Shareholder Value Beteiligungen AG, Share Value Stiftung and Shareholder Value Management AG, have informed them that the core shareholders and other shareholders entered into binding agreements with Yankuang Energy Group Company Limited, based in the province of Shandong, China, on 01 March 2024 for the acquisition of a stake totalling approx. 52.66% of SMT Scharf AG by Yankuang Energy Group Company Limited, at a price of EUR 11.10 per share. This price per share is still subject to a fixed adjustment mechanism depending on certain variables until the closing of the transaction, which may lead to a deduction of the price per share. The completion of the transaction is still subject to the occurrence of customary closing conditions, in particular the completion of investment control proceedings under public law in Germany and government regulatory approvals in other jurisdictions of subsidiaries of SMT Scharf AG as well as the approval by the competent Chinese authorities.

The Managing and Supervisory Boards of SMT Scharf AG welcome the fact that Yankuang, as a strategic investor, intends to acquire a majority interest in SMT Scharf AG. As Volker Weiss, CFO of SMT Scharf AG, commented: "We aim to maintain a close and regular dialogue with our new core shareholder in order to successfully further develop and advance SMT Scharf Group's business activities. In this context, we perceive the opportunity to achieve far-reaching synergies, given that Yankuang, as a leading manufacturer of equipment for coal mining, is able to contribute extensive expertise from the mining industry."