C.A.T. oil AG

EANS-News: C.A.T. oil AG
Management Board and Supervisory Board publish Joint Reasoned Statement on Takeover Offer made by Joma Industrial Source Corp.

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Subtitle: • Management Board and Supervisory Board recommend shareholders to
accept takeover offer by Joma Industrial Source Corp.
• CEO Manfred Kastner “We have an excellent track record and generated
significant shareholder value – over the past three years C.A.T.oil’s share
price increased by more than 218%.”

Mergers - Acquisitions - Takeovers/Reasoned Statement 

The Management Board and Supervisory Board of C.A.T. oil AG (O2C, ISIN:
AT0000A00Y78; "the Company")today published their Joint Reasoned Statement
pursuant to Article 27 WpÜG on the takeover offer made by Joma Industrial Source
Corp. ("Joma") on December 11, 2014. In this statement, Management Board and
Supervisory Board indicate that the offer price of EUR 15.23 is adequate from a
financial point of view. However, the bidder's intentions remain, to a large
extent, unclear. Management Board and Supervisory Board recommend shareholders
of C.A.T. oil AG to accept the takeover offer. The evaluation of the offer
price's adequateness is, inter alia, supported by a Fairness Opinion based on
marked standard valuation methods, provided by Commerzbank AG, Frankfurt.

Manfred Kastner, Chief Executive Officer of C.A.T. oil AG, said: "The offer
price is adequate from a valuation perspective given the current geopolitical
and macroeconomic environment. As a Management Board we are convinced that
C.A.T. oil is perfectly positioned as it has a proven strategy geared towards
profitable growth. We have an excellent track record and generated significant
shareholder value - over the past three years C.A.T. oil's share price increased
by more than 218%. Moreover, C.A.T. oil enjoys an excellent reputation amongst
customers for its reliability and high quality of services."

The full Reasoned Statement by the Management Board and the Supervisory Board
has been posted today on the Company's website at http://www.catoilag.com/
upload/Statement_2014-12-19.pdf and  publication by announcement in the Federal
Gazette (Bundesanzeiger) has been arranged for.


Press contact:

FTI Consulting
Carolin Amann
Phone: +49 (0)69 92037-132
Email: carolin.amann@fticonsulting.com
Steffi Susan Kim
Phone: +49 (0)69 92037-115
Email: steffi.kim@fticonsulting.com
About C.A.T. oil AG:

C.A.T. oil AG is one of the leading independent oil and gas field service
contractors in Russia and Kazakhstan and is listed on the Frankfurt Stock
Exchange (SDAX). C.A.T. oil provides a range of high quality services, which
enable oil and gas producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hy-draulic fracturing service, a very effective method of well
stimulation by cracking rock formations with pressurized fluids, in Russia and
Kazakhstan. Following its IPO in 2006, the Company developed a second core
service of sidetrack drilling in 2006-08 and has established a strong presence
in Russia's sidetrack drilling market. Sidetrack drilling is a term used to
describe drilling of a new wellbore from the upper section of an existing well.
In 2011-12, the Company launched the next phase of its growth and
diversification strategy and set up high class drilling operations as a third
core service offering. High class drilling is the classical technology of
drilling vertical, inclined and horizontal wells for extraction of oil and gas.
In total, the Company has already invested more than EUR 450 million in growth
and diversification since its IPO in 2006.
Following the successful set up of high class drilling in 2011-12, C.A.T. oil
introduced its new segment reporting in 2013 clustering its activities in "Well
Services" (fracturing, cementing and completion operations) and "Drilling,
Sidetracking and IPM (Integrated Project Management)".
C.A.T. oil's customer base includes the leading Russian and Kazakh oil and gas
pro-ducers such as Rosneft, Lukoil, Gazprom Neft, Tomskneft VNK, Slavneft,
Russneft and KazMunaiGaz. The Company has long-standing relationships with these
custom-ers and has been a reliable service provider since its market entrance in
the early nineties.
C.A.T. oil has its headquarters in Vienna. The Company's 9M 2014 weighted
average headcount stood at 2,920 people, most of which are based in Russia and

Further inquiry note:
Carolin Amann Tel: +49(0)69-92037-132 Email: carolin.amann@fticonsulting.com
Steffi Susan Kim Tel: +49(0)69-92037-115 Email: steffi.kim@fticonsulting.com

end of announcement                               euro adhoc 

company:     C.A.T. oil AG
             Kärntner Ring 11-13
             A-1010 Wien
phone:       +43(0) 1 535 23 20 - 0
FAX:         +43(0) 1 535 23 20 - 20
mail:     ir@catoilag.com
WWW:      http://www.catoilag.com
sector:      Oil & Gas - Upstream activities
ISIN:        AT0000A00Y78
indexes:     SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt 
language:   English

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