GERMANY – On November 19, 2024, the Management Board and Supervisory Board of Surteco Group SE published a joint statement regarding the mandatory offer from Banasino Investments S.à r.l., in compliance with Section 27 of the German Securities Acquisition and Takeover Act.

The statement clarifies that the majority shareholders of Surteco, holding 56.87% of the voting rights, have decided not to accept the offer of EUR 16.96 per share for the shares held within the Surteco pool.

Additionally, no member of the Management Board or Supervisory Board intends to sell their shares under the offer.

Both boards also expressed that there is no reason to recommend the offer to Surteco’s shareholders. The details of this position are explained in the full statement, which is available on Surteco’s website. It is important to note that only the joint statement from the boards holds official authority on this matter.

Surteco Group specializes in the development, design, manufacturing, and sale of paper and plastic-based surface materials. The company caters to various sectors within the furniture industry, with a focus on office, kitchen, and sanitary products, as well as wood-board and chipboard manufacturers. Surteco operates across Europe, the Americas, Australia, and Asia, with its headquarters located in Buttenwiesen-Pfaffenhofen, Germany.