Karlsruhe. EnBW Energie Baden-Württemberg AG will not continue with the secondary offering of EnBW shares in EVN AG from its own portfolio planned in connection with the capital increase at EVN AG (“EVN”). While demand within the book building process demonstrated the general attractiveness of the EVN share, it was not reflected in the prices being offered. EnBW is of the opinion that the current price does not correspond to the intrinsic value of EVN AG.
In recent months, EnBW had emphasised that it was in principle willing to dispose of some of its holdings of EVN shares. Today’s decision will not have any direct impact on the financial position and results of operations of EnBW. Nor will the decision taken today affect the relationship between EnBW and EVN as partners.
A sale of EVN shares from EnBW’s portfolio remains conceivable at an unspecified later date.
Legal Disclaimer: This announcement has been prepared for information purposes only. It does not constitute an offer, an invitation or a recommendation to purchase or sell securities issued by EnBW Energie Baden-Württemberg AG (EnBW), a company of the EnBW group, EVN AG or any other company. A public offer of shares of EVN AG in Germany may only be made after the publication of a prospectus approved by the Austrian Financial Market Authority and notfication of it to the German Bundesanstalt für Finanzdienstleistungsaufsicht in accordance with the Prospectus Directive (EC) No. 71/2003 of November 4, 2003 as amended, section 17 of the German Act on Securities Prospectuses (Wertpapierprospektgesetz) and any other relevant implementing measure in Germany or in any other circumstances which do not require the publication by the issuer of a prospectus pursuant to Article 3 of the Prospectus Directive.
This announcement is not for distribution in or into the United States of America and must not be distributed to U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended ("Securities Act")) or publications with a general circulation in the United States. This press release does not constitute an offer or invitation to purchase any securities in the United States. The securities of EVN AG have not been registered under the Securities Act and may not be offered, sold or delivered within the United States or to U.S. persons absent registration under or an applicable exemption from the registration requirements of the United States securities laws. There will be no public offer of securities of EVN AG in the United States. This press release is directed only at persons (i) who are outside the United Kingdom or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) who fall within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order (all such persons together being referred to as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.