Squeeze-out procedure of ALTANA AG: Squeeze-out resolution entered in the Commercial Register
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The resolution adopted by the Annual General Meeting of ALTANA AG on June 30, 2010, regarding the transfer of shares from ALTANA AG’s minority shareholders to the company’s majority shareholder SKion GmbH pursuant to sections 327a ff. of the German Stock Corporation Act (AktG) has been entered in the Commercial Register of the company on August 27, 2010. With the entry of the transfer resolution in the Commercial Register, all the shares held by the minority shareholders have been transferred to SKion GmbH by act of law in return for a cash compensation of €15.01 per share.
Consequently, the stock exchange listing of the ALTANA shares is expected to be discontinued soon. Any stock market trading which takes place until then will only be trading of the minority shareholders’ entitlements to cash compensation.
With the registration of the transfer resolution in the Commercial Register, the former shareholders of ALTANA who had accepted the voluntary public purchase offer of November 6, 2009, are entitled to payment of an improvement amount as stated in the offer documents.
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