|Offeree company||Austrian Airlines AG (FN 111000k)|
|Offeror||ÖLH Österreichische Luftverkehrs-Holding-GmbH|
|Acceptance period||02 Mar to 11 May 2009, 17:30 hrs. Vienna local time|
|Offer price||EUR 4.49 per share of Austrian Airlines AG cum Dividende 2008|
|Offer volume||48,468,147 shares of Austrian Airlines AG|
|Premium||55% (1M); -7.26% (3M); -3.87% (12M)v|
1. Reaching of the statutory minimum acceptance threshold of more than 50% of permanent voting shares (ständig stimmberechtigte Aktien) in Austrian Airlines (without consideration of the treasury shares held by the Offeree Company itself) according to section 25a para. 2 ÜbG, whereby the shares to be acquired by the Bidder from ÖIAG are taken into account when calculating such threshold (therefore, acceptance declarations of 6.96% of permanent voting shares (ständig stimmberechtigte Aktien) in Austrian Airlines are required).
2. Non-prohibition and/or approval of the envisaged takeover by 31 July 2009, at the latest, by the competent antitrust authorities of (a) the European Union, (b) the United States of America, (c) Canada, (d) Turkey, (e) Israel, (f) Albania, (g) Bosnia, (h) Serbia and (i) Ukraine
3. Approval of the restructuring aid to be made by ÖIAG to the Target Company in the amount of EUR 500 million (Restructuring Aid, Restrukturierungsbeihilfe) by the European Commission as well as the coming into force of a respective federal act enacted by the Republic of Austria regarding payment of such Restructuring Aid (Restrukturierungsbeihilfe) both by 31 July 2009, at the latest.
4.At the end of the Acceptance Period, the Bidder has acquired at least 75% of the permanent voting shares (ständig stimmberechtigte Aktien) in Austrian Airlines(without consideration of the treasury shares held by the Target Company itself).
5. The Offeree Company is neither illiquid (zahlungsunfähig) nor subject to liquidation, nor have insolvency or composition proceedings (Konkurs- oder Ausgleichsverfahren) over the assets of the Target Company or proceedings under the Austrian Restructuring Act (Unternehmensreorganisationsverfahren) been initiated nor has an application for the commencement of insolvency proceedings been dismissed by the competent court due to lack of sufficient funds for covering the costs of such proceedings (Ablehnung der Konkurseröffnung mangels Masse).
|Paying agent||UniCredit Bank Austria AG, Schottengasse 6-8, 1010 Vienna|
|Share held by Offeror prior to announcement of bid||0%|
|Modification of the bid of 31 July 2009||Changes to the conditions precedent 2.3.1 (ii) and (iii):Prolongation of the deadline from 31 July 2009 to 31 August 2009|