Offeree CompanyKTM-Sportmotorcycle AG (FN 116267g)
ISINWK 095.745
OfferorCROSS Beteiligungsverwaltungs GmbH
Acceptance period22 Jun to 21 Jul 1999,
Offer price65 EUR per share
Offer volume952,401 shares (approx. 47.62%)
Premium+ 16.6% (6M), +6.3% (12M), +51.2% (IPO)
ConditionsAcquisition of at least 452,402 KTM shares (~22.62%)
Paying agentBank Gutmann AG
Share held by bidder prior to announcement of offerThe Offeror does not own any KTM shares.
SHARE PORTFOLIO OF THE OFFERORThe Offeror does not own any KTM shares at present. CROSS Holding AG owns approx. 2% of KTM shares. CROSS Beteiligungs-AG owns 25% of KTM shares. The shares held by CROSS Beteiligungs-AG (25%), part of the shares held CROSS Holding AG (~0.6%) as well as the shares held by Fiorde Servicos Lda. and Galeto Servicos Lda. (25.4%) are related within a syndicate that together owns a total of 51% of KTM shares.
Further important informationThe Offeror has entered into option agreements with CROSS Beteiligungs-AG, CROSS Holding AG, Fiorde Servicos Lda. as well as Galeto Servicos Lda. for the purchase of 1,047,599 KTM shares (~52.38%) (“associated KTM shares"). The options are contingent on the successful execution of this takeover bid.
IMPROVEMENT OF THE OFFER:The compensation is due on the day of the announcement of the outcome (§ 19 para 2 Takeover Act). If the Offeror acquires at least 452,402 of the free KTM shares (22.62%) outside of the offer (in the meaning of § 16 para 1 Takeover Act), the compensation is due three banking days after execution of the agreement (in the meaning of § 16 para 1 Takeover Act), at the earliest though three banking days after the acceptance declaration is submitted.