Contact:
Jean-Claude Diener
Phone: +49 (0) 69 6655 432-1
E-Mail: jp@transglobal-ag.com
- Expansion
- Energy
- Finance
- Company
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Frankfurt am Main (pts018/23.02.2011/12:15) - Transglobal Energy Resources AG (Symbol: B98) acknowledges the takeover offer by Onex Corporation received on 21 January 2011. According to the offer, Onex currently holds 22% of Transglobal Energy Resources AG and plans to increase this holding. A cash offer is made to shareholders of Transglobal Energy Resources AG of EUR 0.42 per bearer share.
Many shareholders of Transglobal Energy Resources AG consider the Onex offer to be less than lucrative. In the medium term, they envision a target trading price of at least EUR 1.50 and intend to grow the company into a global conglomerate. In particular, they view the investment enquiry by Asipac Capital Services Corp. as an indication that their plans are well founded.
According to management, the resources needed for the expansion of Transglobal Energy Resources AG are to be raised through a capital increase.
The capital increase and a reverse stock split (20:1) are to be adopted at the general meeting of the shareholders, which is due to be held shortly.
The management of Transglobal Energy Resources AG denied rumours of a possible delisting of the company on the Frankfurt exchange, stressing that the company intends to comply fully with the new General Terms and Conditions of the Deutsche Börse Group regarding equity ratio, the duty to publish prospectuses, and nominal value of shares.
Investor and Press Contact:
Transglobal Energy Resources AG
Investor Relations Department
Lyonerstr. 14
60528 Frankfurt am Main
Tel.: +49 69 6655 4320
Tel.: +49 69 6655 4321
Fax: +49 69 6655 4322
Email: jp@transglobal-ag.com
Email: wl@transglobal-ag.com
Web: http://www.transglobal-ag.com
Disclaimer:
This press release does not constitute an invitation to buy or sell securities but rather serves only to provide information. Every investment is associated with opportunities as well as risks. When making an investment decision, be sure to consult a qualified expert that you trust, such as your tax advisor or the bank holding your securities account.
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