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Axens takeover bid to acquire Heurtey Petrochem

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Hydrocarbon Engineering,

Axens is increasing the price of its voluntary takeover bid proposal submitted to the AMF (French capital markets authority) on 12th October 2016 to €25 per share (fixed price, without additional price).

In order to strengthen the attractiveness of the bid offered to Heurtey Petrochem's shareholders, Axens’ has increased their offer on price per share.

The increased price represents a 37.1% premium over the closing share price as at Monday, 10 October (€18.24) and a 44.1% premium over the per share volume-weighted average price over the last three months prior to 10 October 2016.

Accordingly, an updated draft information memorandum has been submitted this day to the Autorité des marchés financiers (AMF).

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