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AKASOL AG: Amount of cash compensation for merger squeeze-out determined at EUR 119.16

·3-min read

AKASOL AG / Key word(s): Squeeze Out
AKASOL AG: Amount of cash compensation for merger squeeze-out determined at EUR 119.16

29-Oct-2021 / 19:38 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

 

Disclosure of an inside information according to Article 17 of the Regulation (EU) No 596/2014

AKASOL AG: Amount of cash compensation for merger squeeze-out determined at EUR 119.16

Darmstadt, October 29, 2021 - Today, ABBA BidCo AG with its seat in Frankfurt am Main ("ABBA BidCo") has submitted a specified request (konkretisiertes Verlangen) to the Executive Board (Vorstand) of AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9) pursuant to section 62(1) and (5) first sentence of the German Transformation Act (Umwandlungsgesetz - UmwG) in conjunction with sections 327a et seqq. of the German Stock Corporation Act (Aktiengesetz - AktG) to convene an Extraordinary General Meeting (außerordentliche Hauptversammlung) of AKASOL to resolve on the transfer of the shares held by the minority shareholders of AKASOL to ABBA BidCo against adequate cash compensation.

ABBA BidCo currently holds 92.95 % of the share capital of AKASOL and is therefore the major shareholder of AKASOL within the meaning of section 62(5) UmwG. ABBA BidCo has determined the cash compensation to be EUR 119.16 per AKASOL share. The adequateness of this cash compensation is currently being reviewed by the court-appointed expert auditor. The court-appointed expert auditor has already indicated that, from a current standpoint, it will confirm the cash compensation to be adequate.

The conclusion and notarization of the merger agreement between AKASOL and ABBA BidCo will take place on November 1, 2021. The Extraordinary General Meeting of AKASOL, which is to adopt a resolution on the transfer of the shares held by the minority shareholders of AKASOL to ABBA BidCo against a payment of cash compensation in the amount of EUR 119.16 per AKASOL share, is expected to take place on December 17, 2021.

The effectiveness of the merger squeeze-out is still subject to the approval by the Extraordinary General Meeting of AKASOL and the registration of the transfer resolution and the merger in the commercial register at the seat of AKASOL as well as the registration of the merger in the commercial register at the seat of ABBA BidCo.


Contact Investor Relations:

cometis AG
Georg Grießmann
Phone: +49 (0) 611 205855 - 61
E-Mail: griessmann@cometis.de

Contact Corporate Communications:

AKASOL AG
Morvyn Lipinski
Phone: +49 (0) 6151 800500 - 440
E-Mail: morvyn.lipinski@akasol.com

About AKASOL:

AKASOL is a leading developer and manufacturer of liquid-cooled and rechargeable high-performance Lithium-Ion ("Li-Ion") battery systems for a wide range of applications, such as buses, commercial vehicles, rail vehicles, industrial vehicles, marine and stationary applications. With 30 years of experience, AKASOL is a pioneer in the design and manufacturing of Lithium-Ion battery systems for commercial applications. The shares of AKASOL AG have been traded in the Prime Standard of the Frankfurt Stock Exchange since June 29, 2018.

 

29-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

AKASOL AG

Kleyerstraße 20

64295 Darmstadt

Germany

Phone:

+49 6151/800 500

E-mail:

info@akasol.com

Internet:

www.akasol.com

ISIN:

DE000A2JNWZ9

WKN:

A2JNWZ

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1244983


 

End of Announcement

DGAP News Service

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