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Voluntary takeover offer to the shareholders of Pankl Racing Systems AG (exchange offer)
Pierer Industrie AG will submit a voluntary public offer pursuant to Sections 4 et seq. Austrian Takeover Act to all shareholders of Pankl Racing Systems AG, which are not acting in concert with Pierer Industrie AG pursuant to Section 1 lit 6 Austrian Takeover Act. According to the information provided by Pierer Industrie AG, Pierer Industrie AG offers shares of CROSS Industries AG (ISIN AT0000820659) in the ratio 8:1 in exchange for shares of Pankl Racing Systems AG. This means that shareholders of Pankl Racing Systems AG, which accept the exchange offer, have the possibility to exchange 1 share of Pankl Racing Systems AG (ISIN: AT0000800800) against 8 shares of CROSS Industries AG (ISIN AT0000820659). In the course of this exchange offer, shares of CROSS Industries AG are therefore publicly offered.
In this context the following downloads are available:
This ad-hoc release does neither constitute an offer to sell or an offer to acquire nor an intimation to submit a proposal for the acquisition or sale of securities of Pankl Racing Systems AG and/or CROSS Industries AG.
It should be noted, that in Austria the public offer in relation to the shares of CROSS Industries AG connected with this voluntary takeover offer is exempted from the prospectus requirement pursuant to Section 3 para. 1 lit 8 Austrian Capital Market Act.
The announced transaction will take place exclusively on the basis of the offer document which has to be prepared and published in the course of the takeover procedure.
Pierer Industrie AG will publish the offer document and the confirmation about its examination by the expert (together the „Documents“) pursuant to Section 11 para 1a Austrian Takeover Act in the form of a brochure. The Documents will be available free of charge at the registered address of Pankl Racing Systems AG, Industriestraße West 4, 8605 Kapfenberg, and at the Paying Agent UniCredit Bank Austria AG, Schottengasse 6-8, 1010 Vienna, during usual business hours. The Documents will also be available on the websites of the Austrian Takeover Commission (www.takeover.at), Pierer Industrie AG (www.piererindustrie.at) and Pankl Racing Systems AG (www.pankl.com).