Today Walter Fust made a prior announcement of his intention to launch a public takeover offer for all publicly held registered shares of Tornos Holding AG (hereafter referred to as “Tornos”) at a price of CHF 4.70 per share. The prospectus accompanying the offer is scheduled for publication on November 27, 2013.

Walter Fust, who is already the largest shareholder in Tornos with a holding of 33.325%, informed the company’s Board of Directors of his intentions before today’s announcement. The Board of Directors will comment the public takeover offer in its report that will be included in the offer prospectus. It notes Walter Fust’s intention to consolidate his position as a longstanding shareholder in Tornos and to help drive forward the ongoing process of strategic realignment in the long term. In making his public takeover offer, Walter Fust is underscoring his confidence in Tornos, while simultaneously guaranteeing the long term stability of the company’s shareholder base.