Karlsruhe/Kornwestheim. In a joint announcement on Friday, July 19, 2002, EnBW Energie Baden-Württemberg AG and Salamander AG declared their intention to convene an extraordinary AGM on September 11, 2002 at the request of majority Salamander shareholder EnBW AG to approve the squeeze-out procedure - plans of which were made public on April 29, 2002 - with the aim of squeezing out the minority shareholders of Salamander AG. The EnBW Group currently holds around 95.4% of Salamander AG shares.
EnBW AG intends to pay the minority shareholders cash compensation of EUR 22.71 per share in accordance with Section 327b AktG (German Stock Corporation Act). The amount of the cash compensation is subject to confirmation of its appropriateness by the court-appointed independent expert.