CHORUS Clean Energy AG: Management Board and Supervisory welcome Takeover offer by Capital Stage AG

Executive and Supervisory CHORUS Clean Energy AG recently after a thorough examination of the public Exchange Offer of Capital Stage AG ( “Capital Stage”) issued a joint statement according to § 27 of the German Takeover Act (WpÜG) published. therein come the members of both bodies to the conclusion that the offer and the order objective pursued in the interests of the company, its shareholders and employees. The Shareholders are therefore advised to accept the offer.

Capital Stage, on 28 July 2016, the offer document public for their Exchange offer to acquire all outstanding shares of CHORUS Clean Energy AG
released. The CHORUS shareholders can each three (3) CHORUS shares in five (5) Capital Stage-shares exchange. The implied offer price is 11,501 euros per Chorus share, what entspricht2 an attractive premium of 36 per cent, Management and Supervisory Boards of CHORUS come in its opinion to the conclusion that the consideration offered both in terms of the liquidity of the Capital Stage share is appropriate as well as the amount of the consideration. In addition to its own analysis was in terms of the adequacy from a financial standpoint and a fairness opinion obtained.

Members of the Management Board and the Supervisory Board, company founder and largest shareholder – Peter Heidecker – already have their share totaling approximately 15 percent of all CHORUS shares to be exchanged against shares of Capital Stage filed.