03.11.2017 | Austria
Kontron S&T AG makes free float shareholders offer to repurchase shares at €3.11 per shareS&T AG, Linz, Austria reports that the executive board of Kontron S&T AG has resolved to conduct a program of share repurchasing. This program is addressed to all holders of shares – the 'freefloat shareholders' - in Kontron S&T AG. Its shares are no longer listed on exchanges. The offer foresees the acquisition of up to 2,184,589 shares at a price of €3.11 per share. The offer's term of acceptance is from November 6, 2017, to December 18, 2017.
The price of acquisition is the same as the amount – representing compensation paid in cash – that was offered to shareholders on the occasion of Kontron AG's being merged into S&T Deutschland Holding AG (today's Kontron S&T AG).
Those shareholders that, therefore, refused to take advantage of the offer ensuing from the merger and comprising the granting of compensation in cash of €3.11 per share owned, and that also did not opt for the course of consigning their shares and receiving consideration for such, are thus receiving once more – via this offer to acquire their shares – the opportunity to sell their shares in Kontron S&T AG. These shares are by now no longer traded. The price per share is €3.11.
The way for Kontron S&T shareholders to accept the offer is for them to declare this acceptance during the term of acceptance. This declaration is to be submitted to their respective banks of securities deposit, which, in turn, are to send at the beginning of the term of acceptance to the Kontron shareholders a bulletin of information, or answer form or letter of instruction (collectively referred to as “declarations of acceptance”) designed for the submission of such acceptances.