DGAP-Adhoc: Drillisch AG: Drillisch reduces its shareholding in freenet and realizes hidden reserves

| Source: EQS Group AG EQS Group AG 

Drillisch AG  / Key word(s): Strategic Company Decision/Disposal

19.03.2013 07:47

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Maintal, 19 March 2013

Drillisch reduces its shareholding in freenet and realizes hidden reserves

The board of directors and the supervisory board of Drilllisch
Aktiengesellschaft (DE 0005545503) have decided to cause MSP Holding GmbH
('MSP'), a subsidiary company of Drillisch Aktiengesellschaft, to transfer
an aggregate amount of 13,320,000 registered shares without nominal value
in freenet AG, Büdelsdorf ('freenet'), corresponding to about 10.40 % of
the nominal capital of freenet, to Bank of America, N.A.. The transfer of
the shares will take effect as of 20 March 2013. Bank of America, N.A has
settled the transfer based on a volume weighted average freenet stock
market price of EUR 18.5067. The transfer of shares results in a discharge
of loan obligations in an amount of ca. EUR 136,000,000, ca. EUR 95,700,000
thereof accounted as per 31 December 2012 already, of MSP vis-à-vis Bank of
America, N.A. resulting from the acquisition of freenet-shares, as well as
a de-recognition of financial liabilities of ca. EUR 45,000,000 resulting
from transactions protecting the share price against fluctuation.

As a result of the transfer of shares Drillisch Aktiengesellschaft will
reduce its direct and indirect shareholding in the nominal capital of
freent to ca. 10.44 %. Both, this transaction and the change of the
IFRS-accounting from 'at Equity' to 'Available-for-Sale' lead to an income
before tax of ca. EUR 151,000,000 in the current fiscal year's consolidated
financial statements of Drillisch Aktiengesellschaft.

Drillisch Aktiengesellschaft 

The board of directors

19 March 2013




Contact:
Oliver Keil
Head of Investor Relations
Mail: ir@drillisch.de


19.03.2013 DGAP's 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:      Drillisch AG
              Wilhelm-Röntgen-Straße 1-5
              63477 Maintal
              Germany
Phone:        +49 (0)6181 412 200
Fax:          +49 (0)6181 412 183
E-mail:       ir@drillisch.de
Internet:     www.drillisch.de
ISIN:         DE0005545503
WKN:          554550
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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