DGAP-Adhoc: PETROTEC AG: IC Green Energy informs about BaFin ruling on exemption from public offer on Petrotec AG

PETROTEC AG / Legal Matter/Restructure of Company

27.02.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement according to § 15 WpHG

Petrotec AG: IC Green Energy Ltd. informs Petrotec AG about the BaFin
ruling on the exemption from the obligation to publish the attainment of
control and submit a mandatory takeover offer with respect to the shares of
Petrotec AG

Borken, February 27, 2009 - Petrotec AG (ISIN DE000PET1111) has been
informed today by its major shareholder IC Green Energy Ltd., that IC Green
Energy Ltd., which is holding 42.83% of the voting rights in Petrotec AG,
was exempted by a ruling of the Federal Financial Supervisory Authority
(BaFin) dated February 26, 2009, from the obligation to publish the
attainment of control and submit a mandatory takeover offer according to §
37 of the German Securities Acquisition and Takeover Act (WpÜG) in
conjunction with §§ 8, 9 sentence 1 no. 3 of the WpÜG Offer Ordinance
(release in connection with the financial restructuring of the company).
According to the information submitted, BaFin's ruling is subject to a
revocation right pursuant to § 36 para. 2 No. 3 of the German
Administrative Procedures Law (VwVfG) in case IC Green Energy Ltd. does
not, in each case within a certain timeframe, (i) convert the bridge loans
and funds deriving from a sale-and-sale-back transaction granted to
Petrotec AG in a loan with a loan amount of EUR 6.3m, a maturity of at
least 5 years and a rate of interest not exceeding 8 per cent, (ii) grant
Petrotec AG a credit line in an amount of EUR 4.15m at similar terms, (iii)
subscribe to all of the shares of a capital increase of Petrotec AG
deriving from its authorised capital and pay the issue price in an
aggregated amount of EUR 1,05m and (iv) provide, on demand and in order to
foster Petrotec AG's business activities, certain guarantees (in particular
bails).

Further details to the ruling are described in the respective WpÜG ad hoc
announcement of IC Green Energy Ltd. published via the DGAP platform dated
February 27, 2009.

Disclaimer

As far as this ad hoc release contains forward-looking statements, these
forward-looking statements are based on current assumptions and forecasts
made by the management of Petrotec AG and other information currently
available to Petrotec. Various known and unknown risks, uncertainties and
other factors could lead to material differences between the actual future
results, financial situation, development or performance of the company and
the estimates given here. Petrotec does not intend, and does not assume any
liability whatsoever, to update these forward-looking statements or to
conform them to future events or developments.

About PETROTEC

Since November 2006, Petrotec AG has been listed in the Prime Standard
segment of the Frankfurt Stock Exchange under WKN PET111, ISIN
DE000PET1111. Petrotec is one of the pioneers of the German biodiesel
industry. The company started as early as 1998 with the development of a
process to produce biodiesel from used frying and deep-frying oil.
Petrotec's first industrial biodiesel production plant went turn-key in
2000. Petrotec's proprietary technology is capable of transforming virgin
vegetable oils such as rapeseed, soybean or palm oil as well as
hard-to-process oils and fats such as used cooking oils, animal fats and
oils or fish oil in a single fully continuous process into biodiesel and,
thus, is truly a multi-feedstock technology. The annual capacity of the
plant in Borken (Westphalia), Germany, is 85,000 t biodiesel. In the first
half of 2008 a second production has commenced operations in the deep-sea
port of Emden with an annual capacity of 100,000 t. Unlike many of its
competitors, Petrotec in its ongoing operations has for years now primarily
produced biodiesel from used cooking oils in a fully continuous process.
Treated used cooking oils as feedstock for biodiesel production is up to 50
percent cheaper to procure than the rapeseed oil predominantly used by
Petrotec's rivals in Europe. This enhances Petrotec's cost-competitiveness
over other manufacturers of biodiesel, as 70-90 percent of biodiesel
production costs relate to raw materials.
DGAP 27.02.2009 
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Language:     English
Issuer:       PETROTEC AG
              Fürst-zu- Salm-Salm-Str. 18
              46325 Borken-Burlo
              Deutschland
Phone:        +49 (0)2862 9100 19
Fax:          +49 (0)2862 9100 99
E-mail:       info@petrotec.de
Internet:     www.petrotec.de
ISIN:         DE000PET1111
WKN:          PET111
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News                                     DGAP News-Service
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