PETROTEC AG  / Key word(s): Offer/Offer

10.12.2014 00:47

Dissemination of a Ad-hoc-correction according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Takeover Offer 

REG European Holdings B.V. with its seat in Schiphol, The Netherlands ("Bidder"), an indirectly wholly-owned subsidiary of Renewable Energy Group, Inc., Ames, Iowa, USA, has today informed PETROTEC AG ("Petrotec") about its decision to launch a voluntary public takeover offer for all outstanding Petrotec shares and has announced this decision publicly in advance.

The Bidder has disclosed that it has concluded a share purchase agreement with the current majority shareholder IC Green Energy Ltd., Tel-Aviv, Israel, for the acquisition of their 69.082% participation in the Petrotec share capital. IC Green Energy would receive for the Petrotec shares as consideration shares in Renewable Energy Group, Inc. with a value per Petrotec share of USD 1.235. The number of shares of Renewable Energy Group, Inc. would be determined in accordance with the 30 trading days volume weighted average NASDAQ price of these shares as calculated by Bloomberg as of yesterday. Furthermore, the Bidder has disclosed that it would also purchase IC Green Energy's loan to Petrotec at nominal value.
The Bidder has disclosed that it expects closing of the share purchase agreement to occur soon.

The Bidder has further announced that the consideration to be offered to the shareholders of Petrotec in the takeover offer will correspond to the statutory minimum consideration in cash.

The takeover offer will be subject to conditions to be detailed in the offer document.

Once the offer document has been published, the Management and Supervisory boards of Petrotec will review it carefully and issue a reasoned opinion on the offer.

Disclaimer

This ad hoc notification contains forward looking statements, which are based on assumptions and estimates of the management of Petrotec AG. Although Petrotec management believes that these assumptions and estimates are correct, actual future developments and results can deviate substantially from these assumptions and estimates due to many factors. These factors can include alteration of the economic situation, legal and regulatory constraints in Germany and the EU, and changes in Petrotec's general business and competitive environment. Petrotec assumes no liability and provides no warranty that future developments and actual future results will conform with the assumptions and estimates expressed in this ad hoc notification.

About Petrotec

Petrotec AG, Germany, is the largest European producer of waste-derived biodiesel, mainly based on used cooking oil. The Company owns an overall nameplate production capacity of 185,000 tons per year at two locations in Germany. Petrotec runs a vertically integrated business model including own collection of used cooking oil from more than 15,000 collection points, treatment and refining of the raw material up to the technologically demanding production of waste-based biodiesel. The Company sells its biodiesel primarily to large mineral oil companies in northwest Europe. The usage of waste based biodiesel enjoys a preferential double counting scheme granted by major EU countries as part of the mandatory blending quotas. Petrotec's EcoPremium biodiesel provides significant environmental and climate advantages with the highest CO2 emission reduction of 83% (compared with fossil diesel) amongst all biofuels approved by the EU Renewable Energy Directive (2009/28/EC). Since its IPO in 2006, Petrotec cleaned more than 700,000 tons of waste and saved over 2 million tons of CO2 emissions. Petrotec is a public listed company (ISIN DE000PET1111) in the regulated market of Frankfurt Stock Exchange, in the Prime Standard segment, complying with high international transparency standards. It has a capital stock of 24,543,741 Euro, equaling 24,543,741 shares.

10.12.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      PETROTEC AG
              Fürst-zu- Salm-Salm-Str. 18
              46325 Borken-Burlo
              Germany
Phone:        +49 (0)2862 9100 19
Fax:          +49 (0)2862 9100 99
E-mail:       info@petrotec.de
Internet:     www.petrotec.de
ISIN:         DE000PET1111
WKN:          PET111
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart  
End of Announcement DGAP News-Service  

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