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EANS-Adhoc: Semperit AG Holding / Takeover of Malaysian Latexx Partners leads to next phase of global growth

Geschrieben am 08-10-2012

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Company Information

08.10.2012

- Semperit has secured a 47.3% stake in Latexx Partners from its core
shareholders - Semperit will launch a voluntary conditional cash
offer for all outstanding shares and warrants of Latexx Partners -
Purchase and Offer Price of MYR 2.30 (EUR 0.58) per share in cash and
MYR 1.77 (EUR 0.45) per warrant in cash - Semperit will significantly
improve its position among the world's leading glove producers

Vienna/Kuala Lumpur, October 8, 2012. Semperit AG Holding
("Semperit") (Bloomberg ticker: SEM:AV, Reuters: SMPV.VI) today
entered into agreements to acquire a significant stake in Malaysian
Latexx Partners Berhad ("Latexx Partners") (Bloomberg ticker: LTX:MK,
Reuters: LATX.KL). In addition, Semperit announces a voluntary
conditional cash offer for all outstanding shares and warrants of
Latexx Partners. Assuming a 100% takeover of Latexx Partners, the
maximum transaction volume will amount to approximately MYR 603
million (EUR 152 million). The Offer is being made via Semperit
Investments Asia Pte Ltd, a wholly-owned subsidiary of Semperit, and
is subject to the conditions outlined below.

Listed on the Main Market of Bursa Malaysia, Latexx Partners is one
of the largest medical glove producers in Malaysia and number six in
the world. In 2011, Latexx Partners generated revenue of MYR 441
million (EUR 104 million) and an EBIT of MYR 66 million (EUR 16
million). The company owns six manufacturing plants.

Semperit significantly strengthens its position in the global glove
market The planned acquisition represents a significant step for
Semperit to achieve its strategic objective of reaching an annual
sales volume of 23 billion gloves by 2015. Latexx Partners has an
annual capacity of 9 billion gloves, thereof 6 billion with latest
technology. Semperit expects to increase its annual glove production
capacity from the current level of 12 billion gloves by approximately
70% to about 20 billion. As a consequence, Semperit will
significantly strengthen its position among the top leading glove
producers.

"This acquisition demonstrates our commitment to our growth strategy.
We will raise our global footprint by further diversifying our
production in Asia and strengthen our OEM business significantly",
says Thomas Fahnemann, Chief Executive Officer of Semperit. "We gain
a strong foothold in the Malaysian glove industry, which is the most
important production hub globally. In return, Latexx Partners in its
capacity as a high-performance producer will benefit from our global
top-notch distribution network and sales team. This will lead to
further growth of Latexx Partners."

The transaction will also enhance Semperit's product offering.
Semperit will be able to serve new customer groups and gain access to
new, innovative products. In this regard Latexx Partners will
complement Semperit's existing business activities, particularly in
Asia and the biggest glove market, the USA.

Core shareholders sell their stake to Semperit Mr. Low Bok Tek,
Chairman and CEO of Latexx Partners, has entered into a share sale
agreement with Semperit. He will divest his entire shares and
warrants holding comprising approximately 65.0 million ordinary
shares (representing 29.3% of the ordinary shares outstanding) for a
price of MYR 2.30 (EUR 0.58) per share and 35.0 million warrants
(representing 67.3% of all outstanding warrants) for MYR 1.77 (EUR
0.45) per warrant. In addition, Semperit has secured access - at the
same prices - to 20.2 million ordinary shares (representing 9.1% of
the ordinary shares outstanding) and 9.6 million warrants
(representing 18.4% of all outstanding warrants) in Latexx Partners
via put/call agreements with other investors in Latexx Partners.

Based on a diluted basis of 274.1 million shares (post potential
exercise of all warrants) and the above listed number of shares and
warrants from Mr. Low Bok Tek and other investors, Semperit secured a
47.3% stake in Latexx Partners for an amount of MYR275 million (EUR69
million).

Mr. Low Bok Tek has agreed to remain in his present position as CEO
of Latexx Partners.

Attractive Offer Price for 100% of Latexx Partners In addition,
Semperit is making a voluntary conditional offer for all outstanding
shares and warrants of Latexx Partners. The offer price per share is
MYR 2.30 (EUR 0.58) and the offer price per warrant is MYR 1.77 (EUR
0.45). Assuming a 100% takeover of Latexx Partners, the maximum
transaction volume will amount to approximately MYR 603 million (EUR
152 million).

The Share Offer Price of MYR 2.30 (EUR 0.58) per share represents a
premium of 28.5% to the closing price on October 5, 2012, 36.9% to
the 1 month volume weighted average price (VWAP), 37.7% to the 3
month VWAP and 43.8% to the 6 month VWAP of Latexx Partners' shares.

Semperit currently does not intend to maintain the listing status of
Latexx Partners, if Latexx Partners' free float falls below 25%
required by the Bursa Malaysia Listing Rules at the close of the
Offer.

Conditions for Completion The completion of the acquisition of Mr.
Low Bok Tek's shares and warrants is only subject to anti-trust
clearance in Austria and Germany. The acquisition of the shares and
warrants of the other investors under the put/call agreements are
subject to completion of the acquisition of Mr. Low Bok Tek's shares
and warrants.

The voluntary conditional offer is subject to anti-trust clearance in
Austria and Germany, as well as Semperit Investments Asia Pte Ltd
having received valid acceptances, which when taken together with the
shares already acquired, held, or entitled to be acquired or held by
it, of more than 50% of the issued shares of Latexx Partners.

Note: The voluntary conditional offer is subject to the approval of
the Securities Commission Malaysia.

Details of the Offer will be set out in the announcement made by
Latexx Partners, available on the Bursa Malaysia Website at
www.bursamalaysia.com.

Foreign exchange ratios: EUR/MYR exchange rate of 3.9713 provided
herein as per October 5, 2012 (as per closing of trading hours at
Bursa Malaysia) as well as annual average exchange rate for 2011 of
4.2513 (applied for 2011 financials only).

About Semperit The publicly listed company Semperit AG Holding is an
internationally oriented corporate group, which develops, produces
and markets highly specialised products made of rubber and plastics
(examination and surgical gloves, hydraulic and industrial hoses,
conveyor belts, escalator handrails, building construction profiles,
cable car rings and railway superstructure products) in the Medical
and Industrial Business Sectors. The headquarters of this traditional
Austrian company whose roots date back to 1824 are located in Vienna,
whereas the global R&D centre is in Wimpassing, Lower Austria.
Semperit employs a workforce of about 8,100 people worldwide, of whom
more than 5,600 work in Asia and more than 700 work in Austria. The
Group encompasses 21 production facilities as well as numerous sales
offices in Europe, Asia and the Americas. In the 2011 fiscal year the
Group generated revenue of EUR 820 million and an EBIT of EUR 83
million.

About Latexx Partners Latexx Partners is the world's sixth largest
and one of the leading medical gloves producers in Malaysia. The
company owns six manufacturing plants. Latexx Partners distributes
its gloves to 80 countries, serving more than 300 customers. Latexx
Partners employs more than 2,000 people. In the 2011 fiscal year the
company generated revenue of MYR 441 million (EUR 104 million) and an
EBIT of MYR 66 million (EUR 16 million).

Further inquiry note:
www.semperitgroup.com/en

Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperit.at

Stefan Marin
Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperit.at

end of announcement euro adhoc
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-230
FAX: +43 1 79 777-602
mail: investors@semperit.at
WWW: www.semperit.at
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ViDX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien, stock market: Stuttgart,
Frankfurt
language: English


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