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Decision of the Austrian Takeover Commission regarding the obligation to make a mandatory offer of AvW Gruppe AG and AvW Invest AG pursuant to Sec 26b Austrian Takeover CodeApril 7, 2009The Takeover Commission has held by decree of 7 April 2009 that AvW Gruppe AG and AvW Invest AG have obtained a controlling interest equal to 38.44% of the voting shares in S&T System Integration & Technology Distribution AG. Pursuant to Sec 26b para 2 and 3 Austrian Takeover Code, AvW Gruppe AG and AvW Invest AG is under an obligation within 20 exchange trading days upon receipt of the decree, that was effected on 7 April 2009, to either submit a mandatory offer to all shareholders or to educe their interest to a maximum of 30% of the voting shares or otherwise reverse the obtaining of a controlling interest in any other way. In such case, AvW Gruppe AG and AvW Invest AG have undertaken during the proceedings of the Takeover Commission to sell their shares exceeding 30% of the voting shares solely off-exchange. Contact: Christian Rosner Mag. Martin Bergler S&T System Integration & Technology Distribution AG Geiselbergstr. 17-19/3 1110 Vienna, Austria Tel.: +43(1)3678088 Fax: +43(1)3678088 1099 |
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