PETROTEC AG / Legal Matter/Restructure of Company 27.02.2009 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc announcement according to § 15 WpHG Petrotec AG: IC Green Energy Ltd. informs Petrotec AG about the BaFin ruling on the exemption from the obligation to publish the attainment of control and submit a mandatory takeover offer with respect to the shares of Petrotec AG Borken, February 27, 2009 - Petrotec AG (ISIN DE000PET1111) has been informed today by its major shareholder IC Green Energy Ltd., that IC Green Energy Ltd., which is holding 42.83% of the voting rights in Petrotec AG, was exempted by a ruling of the Federal Financial Supervisory Authority (BaFin) dated February 26, 2009, from the obligation to publish the attainment of control and submit a mandatory takeover offer according to § 37 of the German Securities Acquisition and Takeover Act (WpÜG) in conjunction with §§ 8, 9 sentence 1 no. 3 of the WpÜG Offer Ordinance (release in connection with the financial restructuring of the company). According to the information submitted, BaFin's ruling is subject to a revocation right pursuant to § 36 para. 2 No. 3 of the German Administrative Procedures Law (VwVfG) in case IC Green Energy Ltd. does not, in each case within a certain timeframe, (i) convert the bridge loans and funds deriving from a sale-and-sale-back transaction granted to Petrotec AG in a loan with a loan amount of EUR 6.3m, a maturity of at least 5 years and a rate of interest not exceeding 8 per cent, (ii) grant Petrotec AG a credit line in an amount of EUR 4.15m at similar terms, (iii) subscribe to all of the shares of a capital increase of Petrotec AG deriving from its authorised capital and pay the issue price in an aggregated amount of EUR 1,05m and (iv) provide, on demand and in order to foster Petrotec AG's business activities, certain guarantees (in particular bails). Further details to the ruling are described in the respective WpÜG ad hoc announcement of IC Green Energy Ltd. published via the DGAP platform dated February 27, 2009. Disclaimer As far as this ad hoc release contains forward-looking statements, these forward-looking statements are based on current assumptions and forecasts made by the management of Petrotec AG and other information currently available to Petrotec. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Petrotec does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments. About PETROTEC Since November 2006, Petrotec AG has been listed in the Prime Standard segment of the Frankfurt Stock Exchange under WKN PET111, ISIN DE000PET1111. Petrotec is one of the pioneers of the German biodiesel industry. The company started as early as 1998 with the development of a process to produce biodiesel from used frying and deep-frying oil. Petrotec's first industrial biodiesel production plant went turn-key in 2000. Petrotec's proprietary technology is capable of transforming virgin vegetable oils such as rapeseed, soybean or palm oil as well as hard-to-process oils and fats such as used cooking oils, animal fats and oils or fish oil in a single fully continuous process into biodiesel and, thus, is truly a multi-feedstock technology. The annual capacity of the plant in Borken (Westphalia), Germany, is 85,000 t biodiesel. In the first half of 2008 a second production has commenced operations in the deep-sea port of Emden with an annual capacity of 100,000 t. Unlike many of its competitors, Petrotec in its ongoing operations has for years now primarily produced biodiesel from used cooking oils in a fully continuous process. Treated used cooking oils as feedstock for biodiesel production is up to 50 percent cheaper to procure than the rapeseed oil predominantly used by Petrotec's rivals in Europe. This enhances Petrotec's cost-competitiveness over other manufacturers of biodiesel, as 70-90 percent of biodiesel production costs relate to raw materials. DGAP 27.02.2009 --------------------------------------------------------------------------- Language: English Issuer: PETROTEC AG Fürst-zu- Salm-Salm-Str. 18 46325 Borken-Burlo Deutschland 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, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: PETROTEC AG: IC Green Energy informs about BaFin ruling on exemption from public offer on Petrotec AG
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