C.A.T. oil AG: Looks for Joma Industrial to Disclose its Plans
The Management Board of C.A.T. oil AG is fully committed to get clarification on the asserted shareholder change at its major shareholder CAT. Holding and the mandatory public takeover offer announced by Joma Industrial Source Corp on October 31, 2014. In the interest of all shareholders, customers and employees the Management Board will take all reasonable steps to avoid uncertainty about the future direction of the Company.
* Management contacted Joma Industrial to obtain clarity on its intentions
* No written documentation of share transfer within majority shareholder available to date
* CEO Manfred Kastner: “In the interest of all shareholders of C.A.T. oil AG, our customers and employees we again urge Joma Industrial to promptly disclose its intentions.”
Manfred Kastner, Chief Executive Officer of C.A.T. oil AG said: “Until now the intentions by the asserted new major shareholders are in the dark. In the interest of all shareholders of C.A.T. oil AG, our customers and employees we again urge Joma Industrial to promptly disclose its intentions.”
The Management Board contacted Joma Industrial on October 31, 2014 to request documentary proof of the asserted acquisition of the 50.25% stake in CAT. Holding. Furthermore, the Management Board requested, among others, information
about the bidder’s intentions, his plans with respect to strategy, management composition as well as the financing of the announced offer. Until today, these requests have not been answered by Joma Industrial or its representatives.
The Management Board has furthermore received confirmation by Dr Walter Höft that the asserted sale of his stake in CAT. Holding was not planned by him. Dr Höft also stated that he subsequently requested Joma Industrial to provide a written documentation which proves the transfer of his stake in Skible Holdings Limited and thus indirectly in CAT. Holding.
In addition, the Management Board has been informed that Joma Industrial is disputing the interest of Anna Brinkmann, Chief Operating Officer of C.A.T. oil AG and shareholder of CAT. Holding. Through AB PCO and CAT. GmbH Consultancy Agency Trade & Co (Cyprus), Anna Brinkmann holds 49.75% in CAT. Holding. Additionally, she directly holds approx. 11% of the share capital in C.A.T. oil AG and, therefore, is the Company’s largest shareholder. AB PCO has been informed, that Joma Industrial has filed an action in the District Court of Nicosia (Cyprus) seeking to dissolve CAT. GmbH Consultancy Agency Trade & Co (Cyprus). Anna Brinkmann will defend her legal interests by exhausting all legal possibilities.