OFFERING MEMORANDUM Global Offering of up to ... - Nordex
OFFERING MEMORANDUM Global Offering of up to ... - Nordex
OFFERING MEMORANDUM Global Offering of up to ... - Nordex
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Shareholders. In each case, the costs <strong>of</strong> this <strong>of</strong>fer will be deducted before the proceeds <strong>of</strong> the <strong>Offering</strong><br />
are made available.<br />
The <strong>up</strong> <strong>to</strong> 36,000,000 <strong>Nordex</strong> shares <strong>of</strong>fered for sale, and a further 400,000 shares which will be loaned<br />
<strong>to</strong> Dresdner Bank in its capacity as Designated Sponsor by a Selling Shareholder, have been assigned<br />
the German Securities Code (WKN) 587 357 and ISIN DE 000 587 357 4. The 16,050,000 bearer shares,<br />
which are subject <strong>to</strong> Lock-<strong>up</strong> Agreements in accordance with the Neuer Markt rules and regulations in<br />
the same way as the 400,000 shares released by their Securities Code Number for the activities <strong>of</strong> a<br />
Designated Sponsor, will be <strong>of</strong>fered under German Securities Code Number 621 058.<br />
The nominal value <strong>of</strong> each bearer share is E1.00.<br />
Allotment Principles, Reserved Amount<br />
No agreements relating <strong>to</strong> the allotment procedure existed between <strong>Nordex</strong> AG and Dresdner Bank at<br />
the beginning <strong>of</strong> the Offer Period, except for the preferred allotment for preferential subscription rights<br />
and preferential allotment described below. The Company and the Managers will observe the ‘‘Principles<br />
for the Allocation <strong>of</strong> Share Issues <strong>to</strong> Private Inves<strong>to</strong>rs’’ (the ‘‘Principles <strong>of</strong> Allotment’’) published by<br />
Germany’s Börsensachverständigenkommission (S<strong>to</strong>ck Exchange Committee) at the Bundesministerium<br />
der Finanzen (German Federal Finance Ministry) on June 7, 2000. <strong>Nordex</strong> AG and the Managers expect<br />
<strong>to</strong> determine the detailed provisions <strong>of</strong> the allotment principles by April 2, 2001 and expect <strong>to</strong> publish<br />
them as required by the Principles <strong>of</strong> Allotment on April 4, 2001.<br />
Up <strong>to</strong> 2,760,000 shares were reserved for preferential subscription rights <strong>to</strong> be granted <strong>to</strong> the<br />
shareholders <strong>of</strong> Balcke-Dürr AG, with the exception <strong>of</strong> Babcock Borsig Beteiligungs GmbH shareholders,<br />
representing <strong>up</strong> <strong>to</strong> 8.8% <strong>of</strong> the Offered Shares, excluding the Over-allotment Option and if the Overallotment<br />
Option is exercised in full, 7.7% <strong>of</strong> the Offered Shares. The shareholders <strong>of</strong> Balcke-Dürr AG<br />
were <strong>of</strong>fered one share in <strong>Nordex</strong> AG, under the conditions <strong>of</strong> the <strong>Offering</strong> for every two shares they<br />
hold in Balcke-Dürr AG. Details on exercising the preferential subscription rights were published by<br />
Balcke-Dürr AG on March 17, 2001 in the Frankfurter Allgemeine Zeitung and in<br />
Wertpapiermitteilungen, and on March 20, 2001, in the Bundesanzeiger and were also<br />
communicated <strong>to</strong> Balcke-Dürr AG’s shareholders through their cus<strong>to</strong>dial banks.<br />
Up <strong>to</strong> 626,000 shares were reserved for preferential allotment <strong>to</strong> the employees <strong>of</strong> the <strong>Nordex</strong> Gro<strong>up</strong>,<br />
the Company’s Management Board, the managing direc<strong>to</strong>rs <strong>of</strong> <strong>Nordex</strong> AG’s subsidiaries and business<br />
partners. This represents <strong>up</strong> <strong>to</strong> 2% <strong>of</strong> the Offered Shares (excluding the Over-allotment Option) and <strong>up</strong><br />
<strong>to</strong> 1.73% <strong>of</strong> the Offered Shares if the Over-allotment Option is exercised in full. No <strong>of</strong>fer <strong>of</strong> preferential<br />
allotment was made <strong>to</strong> the Company’s S<strong>up</strong>ervisory Board members. If the employees <strong>of</strong> the <strong>Nordex</strong><br />
Gro<strong>up</strong> and the members <strong>of</strong> the Management Board <strong>of</strong> <strong>Nordex</strong> AG <strong>to</strong>ok advantage <strong>of</strong> the opportunity <strong>to</strong><br />
acquire preferential allotments, they were <strong>of</strong>fered a preferential allotment <strong>of</strong> <strong>Nordex</strong> shares, depending<br />
on their respective purchase <strong>of</strong>fers, with a <strong>to</strong>tal selling price <strong>of</strong> a maximum <strong>of</strong> E10,000 per recipient.<br />
Business partners were granted the opportunity <strong>to</strong> subscribe for <strong>Nordex</strong> shares under this preferential<br />
allotment <strong>up</strong> <strong>to</strong> a selling price <strong>of</strong> E15,000 per recipient.<br />
Otherwise, the general terms <strong>of</strong> sale, including the Offer Price <strong>to</strong> be paid by all other inves<strong>to</strong>rs, also<br />
applied <strong>to</strong> the preferential allotment.<br />
Designated Sponsors<br />
Dresdner Bank and Westdeutsche Landesbank Girozentrale have been appointed by the Company as<br />
designated sponsors (the ‘‘Designated Sponsors’’) for the Neuer Markt.<br />
S<strong>to</strong>ck Exchange Listing<br />
Application has was for admission <strong>to</strong> the Geregelter Markt for trading on the Neuer Markt all <strong>of</strong> <strong>Nordex</strong><br />
AG’s original capital amounting <strong>to</strong> E52,050,000 and the <strong>up</strong> <strong>to</strong> 3,400,000 bearer shares with regard <strong>to</strong><br />
option rights for bearer shares from the contingent capital increase against cash contributions resolved<br />
by the General Shareholders’ Meeting on February 21, 2001. The admission for trading was approved<br />
on March 30, 2001 by the Listing Committee <strong>of</strong> the Frankfurt S<strong>to</strong>ck Exchange and trading on the Neuer<br />
Markt is expected <strong>to</strong> commence under the symbol ‘‘NDX’’ on April 2, 2001.<br />
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