Public disclosure of inside information according to article 17 MAR
Kapfenberg (pta017/20.09.2016/12:05) - 20th September 2016
- Change of the trading segment of the Pankl shares from mid market to standard market
- Pierer Industrie AG submits a voluntary public takeover offer as accompanying measure
- Offer price: EUR 31 per Pankl share
Currently, the shares of Pankl Racing Systems AG are traded at the Official Market (Amtlicher Handel) of the Vienna Stock Exchange in the mid market segment.
Change to the trading segment standard market auction
Today, the board of directors of Pankl Racing Systems AG has passed a resolution to change the trading segment from the mid market to the standard market auction of the Vienna Stock Exchange due to the low trading volume of Pankl shares. The standard market auction segment offers the trading system Xetra as trading platform with a single intraday auction.
The Vienna Stock Exchange will be notified of this change of the trading segment, which is expected to be implemented in March 2017.
Voluntary public takeover offer (cash offer) of Pierer Industrie AG to the shareholders of Pankl Racing Systems AG
Pierer Industrie AG is the majority shareholder of KTM Industries AG and holds indirectly through this company approximately 92.63% of the share capital of Pankl Racing Systems AG.
In the course of the intended change of the trading segment, Pierer Industrie AG has announced its intention to submit a voluntary public takeover offer pursuant to Sections 4 et seq. Austrian Takeover Act to all shareholders of Pankl Racing Systems AG as accompanying measure to the change of the trading segment. The offer price will amount to EUR 31 per share of Pankl Racing Systems AG.
After Pierer Industrie AG had announced to submit a voluntary public exchange offer pursuant to §§ 4 ff Takeover Act to the shareholders of Pankl Racing Systems AG on January 13, 2016, the publication of the offer document was prohibited with decision of the Takeover Commission of March 23, 2016. Therefore, Pierer Industrie AG is subject to a blocking period of one year for the submission of a further takeover offer for shares of Pankl Racing Systems AG. Pierer Industrie AG will file an application with the Takeover Commission pursuant to § 21 para 4 Austrian Takeover Act to shorten this blocking period. The decision of the Takeover Commission must be awaited, before the offer document can be published.
This ad-hoc 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.
emitter: Pankl Racing Systems AG
address: Industriestraße West 4, 8605 Kapfenberg
contact person: Investor Relation
phone: +43(0)3862 33 999-815
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