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The published amendments to the partial offer by the Bidder do not contain any noteworthy improvements for the shareholders and therefore do not alter the Management Board’s prior assessment.
While the purchase bid is a vote of confidence in the Target’s performance, the by only one euro increased offer price of € 34 per share is considered too low in view of the anticipated continued positive performance of the company, which currently has zero debt and is performing well. In this context the Management Board also would like to point out the new guidance (published on 29 September 2022) which compared to the guidance of 2 August 2022 now forecasts the net profit to improve to over € 115 million (previously: over € 100 million).
Furthermore, the Management Board still anticipates the risk that acceptance of the Offer will further impair the liquidity and thus the tradability of the shares, potentially ultimately leading to the shares being delisted, which the Management Board does not wish for.
Shareholders who do not wish to wait for the delayed payment date and who wish to be in full control of their shares again can therefore object to the amendments by 6 October, which will result in the withdrawal of their acceptance of the offer.
Finally, the Management Board would like to point out that only the shareholder can actually make an assessment as to whether the offer is advantageous or not, based on the shareholder’s own individual situation (purchase price, long-term or short-term investment, appraisal of the future development of the company etc.). However, the expected future development of the capital market and the Vienna Stock Exchange also plays a major role. In this case, the situation may be different for small private investors than for institutional investors.
The complete texts of the supplements of the opinions issued by the Management Board and Supervisory Board will be available on the website of Flughafen Wien AG at www.viennaairport.com/partial_takeover_offer_ifm_2022
Press Office of Flughafen Wien AG
Peter Kleemann, Company Spokesman
Tel.: (+43-1-) 7007-23000
Facebook: facebook.com/flughafen wien