artnet AG — M&A Activity 2012

Sep 19, 2012

News Details

Ad-hoc | 19 September 2012 19:05

artnet AG: Management Board and Supervisory Board Recommend Shareholders Not To Accept the Bid Made by Redline Capital Management S.A.

artnet AG / Key word(s): Miscellaneous/Miscellaneous

19.09.2012 19:05

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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artnet AG: Management Board and Supervisory Board Recommend Shareholders
Not To Accept the Bid Made by Redline Capital Management S.A.

Berlin, September 19, 2012-The Management Board and the Supervisory Board
of artnet AG have agreed upon their reasoned statement pursuant to section
27 of the German Securities Acquisition and Takeover Act (WpÜG) today
regarding the voluntary public takeover bid published by Redline Capital
Management S.A. on August 31, 2012. The decision was made unanimously with
no abstention.

The two artnet AG bodies are of the opinion that the takeover bid is not in
the interest of artnet AG. The compensation of EUR 6.40 per artnet share
offered by Redline Management Capital S.A. represents the minimum price
legally stipulated. artnet shareholders are not offered an additional
takeover premium. The Management Board and the Supervisory Board are of the
opinion that the compensation of EUR 6.40 offered is not appropriate.
Following thorough review and consideration, the Management Board and the
Supervisory Board recommend that artnet shareholders do not accept the
takeover bid from Redline Capital Management S.A.

The bid price does not adequately reflect the present position of the
artnet group, especially given the investments made in the recent years and
the resulting growth prospects for the group. The Management Board and the
Supervisory Board are of the opinion that the share price of the three
months before the publication of the bid to artnet shareholders does not
reflect the future price potential of the artnet share.

The full statement can be found on the company's website at
www.artnet.com/investor-relations/takeover-bid.

www.artnet.com | www.artnet.de | www.artnet.fr

artnet AG, Oranienstraße 164, 10969 Berlin - E-Mail IR@artnet.com - Tel.
+49 (30)20917820
ISIN DE000A1K0375, WKN A1K037, ART

19.09.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: artnet AG
Oranienstraße 164
10969 Berlin
Germany
Phone: +49 (0)30 20 91 78 -0
Fax: +49 (0)30 20 91 78 -29
E-mail: info@artnet.de
Internet: www.artnet.de
ISIN: DE000A1K0375
WKN: A1K037
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Stuttgart

End of Announcement DGAP News-Service

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