Deutsche Effecten- und Wechsel- Beteiligungsges. AG

M&A Activity • Nov 15, 2002

News Details

Ad-hoc | 15 November 2002 07:00

DEWB AG english

DEWB increases swap offer for all optic shares due to good market development. Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DEWB increases swap offer for all optic shares due to good market development. Optic shareholders are offered three DEWB shares for each share and thus a premium of 27.7 percent. DEWB AG (Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft) increases the public swap offer for all shares of optic – optical technology investments ag. It is now offering three DEWB shares for each optic share instead of 2.37 that were offered before. Therefore, the premium on the optic share price amounts to 27.7 percent as at the record date, 14 November 2002, and is underlining the attractiveness of the offer. The reason for this increase is the positive development of the securities of the optic portfolio during the running exchange period. As a result of this the net asset value (NAV) of optic temporarily increased by about 20 percent. DEWB is taking account of this positive stock market development and is increasing the exchange ratio. optic’s Board of Directors regards the increase in the DEWB offer as reasonable and recommends to accept the offer. optic shareholders who have already accepted the offer will automatically enjoy the new conditions. All other shareholders may register their optic shares for the free-of-charge exchange for DEWB shares up to and including 22 November 2002. If the increased swap offer is taken up in full the transaction volume will rise to about EUR 6.0 million or CHF 8.8 million. This also involves a new increase in the DEWB free float to more than 1.5 million shares and a rise of the market capitalization to EUR 100 million. After the transaction the optic shareholder will thus be invested in a company which is significantly larger than optic. Contact: Steffen Schneider, DEWB AG, Investor Relations Telephone / Telefax: ++49 3641 65 22 90 / 65 2173 E-Mail: steffen.schneider@dewb-vc.com, Internet: http://www.dewb-vc.com end of ad-hoc-announcement (c)DGAP 15.11.2002 ——————————————————————————– WKN: 804100; ISIN: DE0008041005; Index: Listed: Amtlicher Markt in Berlin und Frankfurt 150700 Nov 02