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News
Squeeze out price for Augusta Technologie AG set at € 30.49 per share
TKH Group NV (NYSE Euronext Amsterdam, AMS: TWEKA - "TKH") has confirmed today it's decision to request the squeeze-out of the minority shareholders of Augusta Technologie Aktiengesellschaft ("Augusta") and set the cash compensation to be offered to Augusta's minority shareholders at € 30.49 per Augusta share. The amount of the cash compensation is based on a valuation of Augusta performed by an independent valuation expert engaged by TKH. According to statutory requirements, it has been approved by an independent valuation expert appointed by the regional court of Munich. Augusta was notified accordingly.
TKH currently holds through it's wholly owned subsidiary TKH Technologie Deutschland AG ("TKH AG") 91.2% of the outstanding shares in Augusta. The shares of Augusta's minority shareholders shall be transferred to TKH AG against cash compensation and Augusta shall be merged with and into TKH AG in a combined transaction ("Merger Squeeze-out"). TKH AG and Augusta have set-up a draft merger agreement. The Supervisory Board of TKH AG has approved the draft merger agreement. Signing of the merger agreement is expected on 1 December 2014 after approval by the Augusta Supervisory Board.
The cash compensation of € 30.49 per share results in a total cash compensation of € 21,409,315.75 for a total of 702,175 shares currently held by Augusta’s minority shareholders.
The Merger Squeeze-out must be approved by Augusta's shareholder meeting, which is scheduled on 19 January 2015. The Merger Squeeze-out is expected to become effective in March 2015, subject to legal procedures by shareholders against the Merger Squeeze-out.
