Panamax Aktiengesellschaft / Key word(s): Offer 11.12.2013 18:34 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Frankfurt am Main, December 11, 2013 - Today, Panamax Aktiengesellschaft (ISIN DE 000A1R1C81 / WKN A1R1C8) has been informed by Guoshi Assets Investment Management Limited, Road Town, Tortola, British Virgin Islands, that the latter intends to submit a mandatory public takeover offer addressed to the shareholders of Panamax Aktiengesellschaft with regard to all issued shares in Panamax Aktiengesellschaft. According to today's notification pursuant to Sec. 10 German Securities Acquisition and Takeover Act (WpÜG) Guoshi Assets Investment Management Limited intends to offer to the shareholders of Panamax Aktiengesellschaft by way of a mandatory public takeover offer to acquire their shares in Panamax Aktiengesellschaft against consideration in cash in the amount of the statutory required minimum purchase price and subject to the other provisions of the bidding documentation. As of today, Guoshi Assets Investment Management Limited directly holds 1,052,048 ordinary bearer shares in Panamax Aktiengesellschaft, equal to approximately 66.62 per cent of the share capital and the voting rights in Panamax Aktiengesellschaft meaning that Guoshi Assets Investment Management Limited has taken control over Panamax Aktiengesellschaft pursuant to Sec. 35 para. 1 sentence 1, 29 para. 2 German Securities Acquisition and Takeover Act (WpÜG). Further, Panamax Aktiengesellschaft has been informed by Guoshi Assets Investment Management Limited that in addition to it, Mr. Zhao Xu, People's Republic of China, has indirectly taken control over Panamax Aktiengesellschaft. Mr. Zhao Xu neither holds any shares nor any voting rights in Panamax Aktiengesellschaft, however, the shares and voting rights in Panamax Aktiengesellschaft held by Guoshi Assets Investment Management Limited are attributed to Mr. Zhao Xu pursuant to Sec. 30 para. 1 sentence 1 no. 1, sentence 3 German Securities Acquisition and Takeover Act (WpÜG) according to today's notification. In this connection, Guoshi Assets Investment Management Limited has informed Panamax Aktiengesellschaft that Mr. Zhao Xu, who has also taken over control, will not submit a separate mandatory public takeover offer for the shares in Panamax Aktiengesellschaft but the submission of the mandatory public takeover offer by Guoshi Assets Investment Management Limited shall also fulfil Mr. Zhao Xu's obligations resulting from Sec. 35 German Securities Acquisition and Takeover Act (WpÜG). Management Board and Supervisory Board will comment on the mandatory public takeover offer of Guoshi Assets Investment Management Limited in compliance with any legal obligations after receipt of the bidding documentation still to be published. Panamax Aktiengesellschaft Management Board 11.12.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Panamax Aktiengesellschaft Neue Mainzer Strasse 28 60311 Frankfurt am Main Germany Phone: +49 172 6109248 Fax: +49 69 971097200 E-mail: [email protected] Internet: www.panamax-ag.com ISIN: DE000A1R1C81 WKN: A1R1C8 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------