PresseBox
Pressemitteilung BoxID: 239090 (Eckert & Ziegler Strahlen- und Medizintechnik AG)
  • Eckert & Ziegler Strahlen- und Medizintechnik AG
  • Robert-Rössle-Str. 10
  • 13125 Berlin
  • http://www.ezag.de
  • Ansprechpartner
  • Karolin Riehle
  • +49 (30) 941084-138

Eckert & Ziegler: Court Action taken by a shareholder of IBt / Request regarding the launching of a mandatory takeover bid

(PresseBox) (Berlin , ) Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700) has been informed that a shareholder of the Belgian company IBt, in which EZAG holds 29.89% of the shares, has introduced a claim before the Court of Appeal of Brussels whereby it alleges that pursuant to Belgian law Eckert & Ziegler would be required to launch a mandatory public takeover bid for about 10 mm IBt shares at a price per IBt share of EUR 3.47.Eckert & Ziegler denies that it would be required to launch a mandatory public takeover bid and will vigorously challenge the claim.

Supplementary text:

When Eckert & Ziegler in February 2008 contributed her shares of BEBIG GmbH in exchange for shares in IBt, the parties used a reference price of 3.47 EUR per IBt share for the transaction. According to Belgian law this reference price becomes the mandatory minimum price if a takeover offer is submitted within 12 months. The law suit now tries to force Eckert & Ziegler to submit such a offer before the term ends on 28 February 2009.

Basis for the suit is a transfer of an option for 5 mm beneficiary at the end of December 2008. Eckert & Ziegler had previously acquired the option from the founders of IBt and transferred it to an independent financial investor in order to save option maintenance fees and in order to widen its own investor base. The plaintiff maintains that the transfer of the option constitutes an "acting in concert". The wording of the claim itself is vague, Eckert & Ziegler does not see any substance. Also, it denies the allegations.