Major Shareholding Notification • Sep 10, 2012
Major Shareholding Notification
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Corporate | 10 September 2012 16:34
Deutsche Rohstoff AG:
Deutsche Rohstoff AG / Key word(s): Disposal
10.09.2012 / 16:34
Deutsche Rohstoff AG sells further 15 per cent share in Rhein Petroleum
Cash payment of EUR 5 million
Heidelberg. Deutsche Rohstoff AG has sold a further 15 percent of its 25 percent share in Rhein Petroleum GmbH, Heidelberg, to Tulip Oil Holding B.V., The Hague. The purchase price amounts to EUR 5 million, which is due immediately. For the remaining holding of 10 percent, Tulip Oil will cover 75% (EUR 3 million) of DRAG'S investment obligations, leaving DRAG with only EUR 1 million of committed investment. Tulip will be compensated for the provided carry from earnings of Rhein Petroleum that are attributable to DRAG and/or from proceeds of a sale of DRAG's remaining 10%. The obligation to compensate Tulip will cease at 31 December 2021.
Dr. Titus Gebel, CEO of Deutsche Rohstoff AG, said: 'We expect large investments in Rhein Petroleum over a relatively short period of time. The now signed agreement gives us the opportunity to remain a significant share shareholder without having to provide major funding. We expect that our remaining share will grow its value significantly in the coming years.'
Heidelberg, 10. September 2012
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company's focus is placed on gold, oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in countries marked by political stability, the core area being Germany. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de.
Contact:
Thomas Gutschlag
+49 6221 871 000
End of Corporate News
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| Language: | English |
| Company: | Deutsche Rohstoff AG |
| Friedrich-Ebert-Anlage 24 | |
| 69117 Heidelberg | |
| Germany | |
| Phone: | 06221-87100-11 |
| Fax: | 06221-87100-22 |
| E-mail: | [email protected] |
| Internet: | www.rohstoff.de |
| ISIN: | DE000A0XYG76 |
| WKN: | A0XYG7 |
| Indices: | Entry Standard (Performance TOP 30) |
| Listed: | Freiverkehr in Berlin, Düsseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt |
| End of News | DGAP News-Service |
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| 184800 10.09.2012 |
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