Jiye Auto Parts GmbH

Nachricht vom 29.05.2018 | 17:27

Takeover Offer; <DE0005895403>



Target company: GRAMMER Aktiengesellschaft; Bidder: Jiye Auto Parts GmbH

Dissemination of an announcement according to the German Securities
Acquisition and Takeover Act (WpÜG), transmitted by DGAP - a service of
EQS Group AG.
The bidder is solely responsible for the content of this announcement.



Jiye Auto Parts GmbH

Publication of the decision to launch a public takeover offer in accordance
with § 10 para. 1 sentence 1 in conjunction with § 29 para. 1 and § 34 of
the German Securities Acquisition and Takeover Act



Bidder:

Jiye Auto Parts GmbH
c/o Jifeng Automotive Interior GmbH
Steigweg 24
97318 Kitzingen
Germany

registered in the commercial register of the local court of Frankfurt am
Main under HRB 109697.

Target Company:

GRAMMER Aktiengesellschaft
Georg-Grammer-Strasse 2
92224 Amberg
Germany

registered in the commercial register of the local court of Amberg under
HRB 1182.

ISIN DE0005895403 (WKN 589540)

The publication of the offer document will be made on the internet under
http://www.allianceforthefuture.com upon approval by the German Federal
Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht).

Information of the Bidder:

Today Jiye Auto Parts GmbH (the 'Bidder'), a company affiliated with the
Chinese automotive component supplier Ningbo Jifeng Auto Parts Co. Ltd.
decided to offer to the shareholders of GRAMMER Aktiengesellschaft (the
'Grammer Shareholders') by way of a voluntary public takeover offer to
acquire their no-par value bearer shares in GRAMMER Aktiengesellschaft,
each representing a notional amount of EUR 2.56 in the registered share
capital (ISIN DE0005895403) (the 'Grammer Shares'), against payment of a
cash consideration of EUR 60.00 per Grammer Share (the 'Takeover Offer').
The foregoing is subject to the final determination of the minimum price
and the final terms set forth in the offer document.

In addition, the Grammer Shareholders shall benefit from the dividend to be
paid for the financial year 2017, which is expected to be an amount of EUR
1.25 per Grammer Share, resulting in a total consideration of EUR 61.25 per
Grammer Share. In the event the settlement of the Takeover Offer occurs
prior to annual general meeting of GRAMMER Aktiengesellschaft, which will
resolve upon the distribution of profits for the financial year 2017, the
cash consideration will be increased by EUR 1.25 per Grammer Share to EUR
61.25 per Grammer Share. In the event the settlement of the Takeover Offer
occurs after the annual general meeting of GRAMMER Aktiengesellschaft
resolving upon the distribution of profits for the financial year 2017 the
Grammer Shareholders will receive the dividend for financial year 2017 from
GRAMMER Aktiengesellschaft. In the event the annual general meeting does
not resolve a dividend or a dividend which is lower than EUR 1.25 per
Grammer Share, and provided the Takeover Offer is settled, the Bidder will
pay the difference to the amount of EUR 1.25 per Grammer Share to those
Grammer Shareholders who have accepted the Takeover Offer.

The completion of the Takeover Offer will be subject to certain conditions.
These will include, in particular, a minimum acceptance condition of 50%
(including the 25.56% share held by an affiliate of the Bidder, i.e. JAP
Capital Holding GmbH) of the issued shares of Grammer Aktiengesellschaft
plus one Grammer Share and receipt of necessary antitrust and other
regulatory clearances. Apart from this, the Takeover Offer will be made on
and subject to the terms and conditions yet to be communicated in the offer
document. The publication of the offer document and further information
regarding the public takeover offer on the internet will take place on
http://www.allianceforthefuture.com. Additionally, the publication of the
offer document will be announced in the federal gazette (Bundesanzeiger).

Important information:

This announcement is neither an offer to purchase nor a solicitation of an
offer to sell shares. The final terms and further provisions regarding the
Takeover Offer will be disclosed in the offer document after the
publication of the offer document has been approved by the German Federal
Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht). Investors and holders of Grammer Shares are
strongly recommended to read the offer document and all documents in
connection with the public Takeover Offer as soon as they are published,
since they will contain important information.

If this announcement contains forward-looking statements, also with respect
to the Takeover Offer, such statements do not represent facts and are
characterized by words such as 'will', 'expect', 'believe', 'estimate',
'intend', 'aim', 'assume' or similar expressions. Such forward-looking
statements express the intentions, opinions or current expectations and
assumptions of the Bidder and the persons acting together with the Bidder.
Such forward-looking statements are based on current plans, estimates and
forecasts which the Bidder and the persons acting together with the Bidder
have made to the best of their knowledge, but which do not claim to be
correct in the future. Forward-looking statements are subject to risks,
uncertainties and changes in the accompanying circumstances that are
difficult to predict and usually cannot be influenced by the Bidder or the
persons acting together with the Bidder. These expectations and forward-
looking statements can turn out to be incorrect and the actual events or
consequences may differ materially from those contained in or expressed by
such forward-looking statements. The Bidder and the persons acting together
with the Bidder do not assume an obligation to update the forward-looking
statements with respect to the actual development or incidents, basic
conditions, assumptions or other factors.

Kitzingen, 29 May 2018

Jiye Auto Parts GmbH

Managing Director

End of the WpÜG announcement



---------------------

Trading: Grammer shares are traded in the official segment of the Frankfurt
and Munich stock exchanges via the XETRA electronic platform and on the
open market (Freiverkehr) of the stock exchanges in Stuttgart, Berlin and
Hamburg.

End of WpÜG announcement

The 29.05.2018 DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de



Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart, Tradegate
Exchange

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