EANS-Adhoc: Miba Aktiengesellschaft / Mitterbauer Beteiligungs-Aktiengesellschaft declares conditional increase of squeeze-out priceSqueeze-out and delist...

=------------------------------------------------------------------------------- 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. =-------------------------------------------------------------------------------

Annual & Special Corporate Meetings 12.10.2015

Laakirchen, 12 October 2015 The majority shareholder of Miba AG, Mitterbauer Beteiligungs-Aktiengesellschaft (MBAG) in today's shareholder meeting which was to decide on the squeeze-out and delisting of Miba AG, requested the conditional increase of the cash consideration from EUR 540 per share to EUR 565 per share. This increase will only become effective upon the three conditions that 1. no objection against the shareholders' resolution is put on record during the shareholder meeting, 2. no lawsuit for the contestation or rescission of the shareholders' resolution is filed and 3. no application for a re-assessment of the cash consideration in accordance with § 6 of the Austrian Squeeze-out Act is made. This proposal followed an increase of the price offered by MBAG to the preferred shareholders of Miba AG to EUR 565 per share on 18 September 2015 in the concurrent voluntary takeover offer.

MBAG justified today's conditional rise in the squeeze-out price with saving legal and consulting costs as well as time required for the related review process in the interests of all shareholders. These savings can be passed on to all remaining free float shareholders in the form of a conditionally increased cash settlement if this cash compensation is not subject to a lengthy and costly re-assessment process.

The re-assessment of the cash consideration can be applied for until one month after the publication of the registration of the squeeze-out with the commercial register. Accordingly, only in the beginning of January 2016 it will be clear whether the conditions are met and whether the increase of the cash consideration has become effective.

The Extraordinary General Meeting has now unanimously approved this resolution and the resolution on the squeeze out. Accordingly, the listing of Miba AG will be terminated in the course of the fourth quarter of 2015.

Irrespective of the squeeze-out now decided, the deadline to accept the MBAG's concurrent voluntary takeover offer at EUR 565 per share will end on 26 November 2015.

end of ad-hoc-announcement ================================================================================ Miba AG, which is a listed company (WKN 872002), is one of Austria's leading industrial and technology companies. Formed in Laakirchen in Upper Austria in 1927, the high-tech group today develops and manufactures its products at 22 sites in eleven countries. Miba products can be found in the passenger vehicles, trucks, construction machinery, trains, ships, aircraft and power plants made or built by the respective leading global manufacturers. The Company specializes in engine bearings, friction materials, sintered components and coatings. In addition, Miba manufactures passive electronic components such as resistors and cooling systems which are needed, among other things, in power transmission systems. Moreover, the Company develops and manufactures special machinery for high-precision machining of large components. Miba employs more than 5,000 members of staff. Revenue in fiscal year 2014-2015 amounted to EUR 669.3 million, while profit before interest and tax (EBIT) was EUR 81.9 million.

end of announcement euro adhoc =-------------------------------------------------------------------------------

(END) Dow Jones Newswires

   October 12, 2015 06:09 ET (10:09 GMT)- - 06 09 AM EDT 10-12-15