Signing of a binding merger for the sale of a block of shares in SMT Scharf AG

EQS-Media / 04.03.2024 / 17:53 CET/CEST Press release of Shareholder Value Beteiligungen AG dated 04.03.2024

Signing of a binding merger for the sale of a block of shares in SMT Scharf AG

 

Frankfurt am Main, 04.03.2024

Shareholder Value Beteiligungen AG (ISIN: DE000A168205) and SMT Scharf AG (ISIN: DE000A3DRAE2) announced on 1 March 2024 that some of the shareholders, including Shareholder Value Beteiligungen AG, will transfer their stake in the amount of approx. 52.66% of the share capital of SMT Scharf AG to Yankuang Energy Group Company Limited with its registered office in Shandong Province, China at a price of EUR 11.10 per share.

At the time of signing of the transaction, Shareholder Value Beteiligungen AG owns more than one-fifth of the share capital of SMT Scharf AG. The subject of the transaction is the vast majority of the above-mentioned position of Shareholder Value Beteiligungen AG. 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.

According to the Management Board's current assessment, once the transaction has been completed and assuming normal business performance up to that point, this is expected to make a positive contribution to increasing the intrinsic value of the company compared to the last reporting date.

In particular, the closing of the agreement is still subject to the occurrence of customary closing conditions, in particular the conclusion of investment control proceedings in Germany and government regulatory approvals in other jurisdictions of subsidiaries of SMT Scharf AG as well as the approval of the competent Chinese authorities.

 

About the Purchaser

Yankuang Energy Group Company Limited was founded in 1997. The H share (ISIN CNE1000004Q8; ISIN ADR US9848461052 ) and the A share (ISIN CNE000000WV6) are listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange.

The company regards mining, high-end chemicals and new materials, new energies, high-end equipment manufacturing, and intelligent logistics as key industries of the future.