Pfeiffer Vacuum Technology AG: Extraordinary General Meeting
PRESS RELEASEPfeiffer Vacuum Invites Shareholders to Extraordinary General Meeting - Prospectively Extended Offer Period Until April 24, 2017
Asslar, March 7, 2017. Given the circumstances of the public takeover offer made by Pangea GmbH, a company wholly owned by Busch SE ("Busch Group"), and the offer document published on February 13, 2017, Pfeiffer Vacuum Technology AG ("Pfeiffer Vacuum") is inviting the company's shareholders to an extraordinary general meeting. The meeting will take place on Monday, April 3, 2017, at 10 a.m. in the Stadthalle Wetzlar, Brühlsbachstraße 2b, 35578 Wetzlar.
The Busch Group's offer stipulates a price of EUR 96.20 per Pfeiffer Vacuum share. Having carefully reviewed the offer and consulted with the bank UBS Europe SE, the Management Board and Supervisory Board of Pfeiffer Vacuum, in a reasoned statement that includes an addendum, rejected this offer for being inadequate and advised the shareholders of Pfeiffer Vacuum to not accept the Busch Group's offer. Moreover, the Management Board and Supervisory Board are not persuaded by the bidder's strategic concept.
In keeping with the recommendations of the German Corporate Governance Code, Pfeiffer Vacuum's shareholders are to be afforded the opportunity to speak to, discuss and ask questions about the takeover bid at the extraordinary general meeting. There is no provision for the adoption of a resolution on this sole item on the agenda.
Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, comments, "In our opinion, the Busch Group is aiming to gain active control of Pfeiffer Vacuum without paying a customary and appropriate takeover premium. A coherent strategic concept for potential collaboration has not yet been presented by Busch. Nothing less than the future of Pfeiffer Vacuum is at stake here. With this discussion, we are affording our shareholders the opportunity to make an informed decision and accept the offer or, as recommended, to reject it."
The convening of the extraordinary general meeting and the Busch Group's expected waiver of the applicable terms for the closing of its offer would extend the acceptance period for the Busch Group's takeover offer by six weeks. The offer period would then prospectively end at midnight of April 24, 2017.
The full invitation to the extraordinary general meeting of Pfeiffer Vacuum Technology AG may be viewed in German only on the company website via the following link:https://group.pfeiffer-vacuum.com/en/investor-relations/annual-general-meeting/
Important Note This Press Release may contain certain future-oriented statements based on current assumptions and prognoses by the corporate management of Pfeiffer Vacuum Technology AG or of companies affiliated with Pfeiffer Vacuum Technology AG. As a result of various known and unknown risks and contingencies, as well as other factors, the actual results, financial position, development or performance of Pfeiffer Vacuum Technology AG and of the companies affiliated with Pfeiffer Vacuum Technology AG may diverge significantly from the appraisals given here. Neither Pfeiffer Vacuum Technology AG nor the companies affiliated with Pfeiffer Vacuum Technology AG accept any obligation to update such future-oriented statements and bring them into line with future events or developments.
Contact Pfeiffer Vacuum Technology AG Investor Relations Eerik Budarz T +49 6441 802 1346 F +49 6441 802 1365Eerik.Budarz@pfeiffer-vacuum.de
About Pfeiffer Vacuum Pfeiffer Vacuum (stock exchange symbol PFV, ISIN DE0006916604) is one of the world's leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio encompasses backing pumps, measurement and analysis devices, components as well as vacuum chambers and systems. Ever since the invention of the turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-tech products that are used in the markets Analytics, Industry, Research & Development, Coating and Semiconductor. Founded in 1890, Pfeiffer Vacuum is globally active today. The company employs a workforce of some 2,350 people and has more than 20 subsidiaries.
For more information, please visit www.group.pfeiffer-vacuum.com
07.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Pfeiffer Vacuum Technology AG Berliner Str. 43 35614 Asslar
Germany Phone: +49 6441 802-0 Fax: +49 6441 802-1365 E-mail: firstname.lastname@example.org Internet: www.pfeiffer-vacuum.de ISIN: DE0006916604 WKN: 691660 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service