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AKASOL AG / Key word(s): Squeeze Out/Squeeze Out
Disclosure of insider information pursuant to Article 17 of Regulation (EU) No 596/2014
AKASOL AG: Request of the majority shareholder to execute a merger squeeze-out
Darmstadt, August 3, 2021 - Yesterday, the Management Board of AKASOL AG ("AKASOL"; ISIN DE000A2JNWZ9) received the formal request of ABBA BidCo AG with its registered office in Frankfurt am Main ("ABBA BidCo") pursuant to section 62 para. 1 and para. 5 sentence 1 UmwG in conjunction with sections 327a et seq. AktG, to execute the procedure for the transfer of the shares of the minority shareholders of AKASOL to ABBA BidCo in their capacity as majority shareholder in return for an adequate cash compensation in connection with a merger of AKASOL into ABBA BidCo by absorption (so-called "merger squeeze-out") and, for this purpose, to have the general meeting of AKASOL resolve on the transfer of the shares of the minority shareholders of AKASOL to ABBA BidCo within three months upon conclusion of the merger agreement. The merger agreement will contain a statement pursuant to § 62 para. 5 sentence 2 UmwG, according to which an exclusion of the minority shareholders of AKASOL as the transferring legal entity shall take place in connection with the merger. The amount of the adequate cash compensation that ABBA BidCo will grant to the remaining shareholders of AKASOL for the transfer of the shares will be communicated by ABBA BidCo at a later date.
According to its own information, ABBA BidCo holds 5,634,459 shares in AKASOL. This corresponds to a stake of approximately 92.94 percent of AKASOL's share capital. ABBA BidCo is therefore the main shareholder within the meaning of § 62 para. 1 and para. 5 sentence 1 UmwG.
The effectiveness of the merger squeeze-out is still subject to the approving resolution of the general meeting of AKASOL and the registration of the transfer resolution and the merger in the commercial register of the registered office of AKASOL respectively ABBA BidCo.
AKASOL will put the requested transfer resolution on the agenda of the next extraordinary general meeting.
AKASOL is a leading German developer and manufacturer of high-energy and high-performance lithium-ion battery systems for use in buses, commercial vehicles, rail vehicles and industrial vehicles, as well as in ships and boats. With 30 years of experience, AKASOL is a pioneer in the development and manufacture of lithium-ion battery systems for commercial applications. Shares of AKASOL AG stock have been traded on the Prime Standard segment of the Frankfurt Stock Exchange since June 29, 2018.
03-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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