EANS-Adhoc: Amendment of a previously released ad-hoc announcement / C-QUADRAT Investment AG / Cubic (London) Limited announces increase of the offer price under the anticipated mandatory takeover off

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update to an 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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Mergers - Acquisitions - Takeovers
11.03.2016

Vienna/Frankfurt, 11.03.2016: C-QUADRAT Investment AG (ISIN:
AT0000613005) announces that it has been informed of the following
facts:

On 15.01.2016 Cubic (London) Limited ("Cubic") which is owned in
equal parts by San Gabriel Privatstiftung and T.R. Privatstiftung
announced (i) that it had entered into a conditional share purchase
agreement regarding a total of 1,095,162 non-par value bearer shares
of C-QUADRAT Investment AG ("C-QUADRAT" or "Target Company"),
corresponding to 25.1% of the Target Company's issued share capital
and (ii) its intention to launch an anticipated mandatory takeover
offer pursuant to Sec 22 et seq ÜbG ("MTO") with an offer price
expected to be EUR 42.86 per share. The share purchase agreement is
subject to the regulatory approvals by competent authorities.

On 10.03.2016 Cubic entered into additional share purchase agreements
with Laakman Holding Ltd, Hallmann Holding International Investment
GmbH, Q-CAP Holdings Ltd, San Gabriel Privatstiftung and T.R.
Privatstiftung regarding a total of 2,856,344 non-par value bearer
shares of C-QUADRAT (65.46%). Further, San Gabriel Privatstiftung,
T.R. Privatstiftung, Hallmann Holding International Investment GmbH,
Q-CAP Holdings Ltd and the beneficiaries of Laakman Holding Ltd
entered into a shareholders' agreement with respect to Cubic. All
agreements are subject to the regulatory approvals by competent
authorities. With effectiveness of these agreements Cubic together
with the parties acting in concert will hold more than 90% in the
Target Company.

As already announced on 15.01.2016 Cubic and its parties acting in
concert intend to fulfill this obligation by way of launching a MTO
to acquire all C- QUADRAT shares that are not held by Cubic and
parties acting in concert. This MTO will refer to 411,694 C-QUADRAT
shares, corresponding to approximately 9.44% of the Target Company's
issued share capital. The offer price will be increased from EUR
42.86 to EUR 60.00. The MTO will be subject to the regulatory
approvals by competent authorities.

Further, Cubic and parties acting in concert intend to implement a
squeeze out procedure subsequent to the MTO. The publication of the
offer document in accordance with statutory requirements can be
expected in April 2016 after clearance by the Austrian Takeover
Commission. The offer document will include the precise terms and
periods regarding the acceptance of the anticipated mandatory offer
and will be available online on the websites of the Target Company
(www.C-QUADRAT.com) and the Austrian takeover commission
(www.takeover.at).

Disclaimer: This announcement is for information purposes only and
neither constitutes an invitation to sell, nor an offer to purchase,
C-QUADRAT shares. The final terms and further provisions regarding
the anticipated mandatory takeover offer will be disclosed in the
offer document once it will have been approved by the Austrian
Takeover Commission (Übernahmekommission). Investors and holders of
C- QUADRAT securities are strongly recommended to read the offer
document and all announcements in connection with the public takeover
offer as they contain or will contain important information.

The offer will be made exclusively under the laws of Austria,
especially under the Austrian Takeover Act. The offer will not be
executed according to the provisions of jurisdictions other than
those of Austria. Thus, no other announcements, registrations,
admissions or approvals of the offer outside of Austria have been
filed, arranged for or granted. Holders of C-QUADRAT shares cannot
rely on having recourse to provisions for the protection of investors
in any jurisdiction other than such provisions of Austria.

To the extent permissible under applicable law or regulation, and in
accordance with Austrian market practice, the Bidder may purchase, or
conclude agreements to purchase, C-QUADRAT shares, directly or
indirectly, outside of the scope of the public takeover offer,
before, during or after the acceptance or any additional acceptance
period. These purchases may be completed via the stock exchange at
market prices or outside the stock exchange at negotiated conditions.
Any information on such purchases will be immediately disclosed as
required by law or regulation in Austria.

Previously released announcement euro adhoc --
---------------------------------------------------------------------
--------- EANS-Adhoc: C-QUADRAT Investment AG / Cubic (London)
Limited announces anticipated mandatory offer for all outstanding
shares in C-QUADRAT Investment AG (ISIN: AT0000613005)

Mergers - Acquisitions - Takeovers
15.01.2016

Vienna/Frankfurt, 15.01.2016: Today, C-QUADRAT Investment AG (ISIN:
AT0000613005) announces that it has been informed of the following
facts:

Cubic (London) Limited ("Bidder" or "Cubic") which is owned in equal
parts by San Gabriel Privatstiftung, currently holding approximately
15,68% in C-QUADRAT Investment AG, and T.R. Privatstiftung, currently
holding approximately 19,58% in C-QUADRAT Investment AG, has entered
into a conditional share purchase agreement with Talanx Asset
Management GmbH regarding a total of 1.095.162 non-par value bearer
shares of C-QUADRAT Investment AG ("C-QUADRAT" or "Target Company"),
corresponding to 25,1% of the Target Company's issued share capital.
The purchase price per share amounts to EUR 42. The share purchase
agreement is subject to the regulatory approvals by competent
authorities in Germany, UK and Austria.

With effectiveness of the share purchase agreement the Bidder
together with both private trusts will hold more than 50% in the
Target Company thus being obliged to launch a mandatory takeover
offer to all other shareholders pursuant to sections 22 et seq.
Austrian Takeover Act. Cubic intends to fulfill this obligation by
way of launching an anticipated mandatory offer to acquire all
C-QUADRAT shares that are not held by the bidder, parties acting in
concert, C-QUADRAT or shareholders with whom the Bidder entered into
no tender commitments. Thus, this anticipated mandatory offer will
refer to approximately 411.000 C-QUADRAT shares, corresponding to
approximately 9,44% of the Target Company's issued share capital. The
offer price will correspond to statutory requirements and is expected
to be EUR 42.86 per C-QUADRAT share. The anticipated mandatory offer
will be subject to the regulatory approvals by competent authorities
in Germany, UK and Austria.

The Bidder plans to release the offer document in accordance with
statutory requirements, however, given the complexity of regulatory
approval procedures in several jurisdictions intends to file an
application to the Austrian Takeover Commission to extend the time
period for notification of the offer document. The offer document
will include the precise terms and periods regarding the acceptance
of the anticipated mandatory offer and will be available online on
the websites of the Target Company (www.c-quadrat.com) and the
Austrian takeover commission (www.takeover.at).

The Bidder expressly points out that its announcement is for
information purposes only and neither constitutes an invitation to
sell, nor an offer to purchase, C-QUADRAT shares. The final terms and
further provisions regarding the anticipated mandatory takeover offer
will be disclosed in the offer document once it will have been
approved by the Austrian Takeover Commission (Übernahmekommission).
Investors and holders of C-QUADRAT securities are strongly
recommended to read the offer document and all announcements in
connection with the public takeover offer as they contain or will
contain important in-formation.

The Bidder expressly points out that the offer will be made
exclusively under the laws of Austria, especially under the Austrian
Takeover Act. The offer will not be executed according to the
provisions of jurisdictions other than those of Austria. Thus, no
other announcements, registrations, admissions or approvals of the
offer outside of Austria have been filed, arranged for or granted.
Holders of C-QUADRAT shares cannot rely on having recourse to
provisions for the protection of investors in any jurisdiction other
than such provisions of Austria.

Finally, the Bidder expressly points out that to the extent
permissible under applicable law or regulation, and in accordance
with Austrian market practice, the Bidder may purchase, or conclude
agreements to purchase, C-QUADRAT shares, directly or indirectly,
outside of the scope of the public takeover offer, before, during or
after the acceptance or any additional acceptance period. These
purchases may be completed via the stock exchange at market prices or
outside the stock exchange at negotiated conditions. Any information
on such purchases will be immediately disclosed as required by law or
regulation in Austria.

Further inquiry note:
Mag. Andreas Wimmer
Vorstand
C-QUADRAT Investment AG
Schottenfeldgasse 20
A-1070 Wien
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.at
www.c-quadrat.com

End of previously released announcement: ----------------------------
---------------------------------------------------- stock market
listing: official market: Frankfurt, Wien system time: 15.01.2016
20:32:21 time of disclosure: 15.01.2016 20:26:18

Further inquiry note:
Mag. Andreas Wimmer
C-QUADRAT Investment AG
Schottenfeldgasse 20
A-1070 Wien
Tel.: +43 1 515 66 316
Mail: a.wimmer@investmentfonds.at
www.c-quadrat.com

end of announcement euro adhoc
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issuer: C-QUADRAT Investment AG
Schottenfeldgasse 20
A-1070 Wien
phone: +43 1 515 66-0
FAX: +43 1 515 66-159
mail: c-quadrat@investmentfonds.at
WWW: www.c-quadrat.com
sector: Financial & Business Services
ISIN: AT0000613005
indexes: Standard Market Auction
stockmarkets: official market: Frankfurt, Wien
language: English