Sky Deutschland minority squeeze out proceedings

17 February 2015

Announcement of Sky Deutschland minority squeeze out proceedings

Sky plc announces that its wholly-owned subsidiary, Sky German Holdings GmbH, has today notified the management board of Sky Deutschland AG that it is initiating the necessary steps for the transfer of the remaining approximately 4% minority shareholdings in Sky Deutschland (squeeze-out).

Sky German Holdings GmbH holds approximately 96% of Sky Deutschland's share capital and is the principal shareholder within the meaning of section 327a (1) AktG. The required shareholder resolution is expected to be adopted by Sky Deutschland in due course.

Remaining minority shareholders of Sky Deutschland that are subject to the squeeze out will receive cash compensation, which will be determined following formal valuation of Sky Deutschland AG in accordance with the prescribed requirements of sections 327a et seq. of the German Stock Corporation Act. The applicable price per share will be the higher of the price determined by such valuation and the volume weighted average share price of the shares of Sky Deutschland in the last three months prior to this announcement (such average being €6.68 per share according to publicly available data).

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