EQS-News
CropEnergies submits delisting application to Frankfurt Stock Exchange
- CropEnergies submits delisting application to Frankfurt Stock Exchange
- Delisting expected to be effective by end of February 2024
- Shareholders can accept Südzucker's delisting tender offer until 16 February 2024.
EQS-News: CropEnergies AG / Key word(s): Delisting
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Mannheim, 5 February 2024 – CropEnergies AG, Mannheim, (“CropEnergies“) plans to withdraw from the stock exchange in the course of the public delisting tender offer of Südzucker AG (“Südzucker“) to the shareholders of CropEnergies. Therefore, CropEnergies applied for the revocation of the admission of all CropEnergies shares to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange on 5 February 2024.
CropEnergies shareholders can still accept Südzucker's public delisting tender offer at EUR 11.50 cash per share until 16 February 2024, at midnight (CET).
The delisting tender offer is not subject to any conditions. The delisting of the CropEnergies shares from the regulated market is expected to become effective after the expiry of the acceptance period of the public delisting tender offer by the end of February 2024. Following the delisting, trading of the CropEnergies share on the regulated market will terminate, which may result in very limited liquidity and price availability of CropEnergies shares.
In addition, the Executive Board of CropEnergies will take all reasonable steps and measures to terminate the inclusion of the CropEnergies shares in trading on the open market of a stock exchange or a multilateral trading facility (MTF) or organised trading facility (OTF), insofar as this inclusion was originally arranged by CropEnergies.
In their joint reasoned opinion published on 26 January 2024, the Executive Board and Supervisory Board of CropEnergies recommended that all CropEnergies shareholders accept Südzucker's public delisting tender offer and tender their shares.
Further information on the public delisting tender offer is available at http://www.powerofplants-offer.com and on the company's Investor Relations website.