UK Markets closed

paragon company founder and CEO Klaus Dieter Frers informs paragon that he expects to lose his entire share package in the near future

paragon GmbH & Co. KGaA / Key word(s): Miscellaneous
paragon company founder and CEO Klaus Dieter Frers informs paragon that he expects to lose his entire share package in the near future

09-Nov-2022 / 16:06 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Delbrück, November 9, 2022 - The company founder of the listed automotive supplier paragon GmbH & Co. KGaA [ISIN DE0005558696] and Managing Director of the general partner, paragon GmbH, Klaus Dieter Frers, has informed the company today that he expects to lose his entire paragon share package soon.

 

According to Mr Frers, a third party has appropriated the rights to realize the complete paragon share package in the context of private bank liabilities against his will and under circumstances that have not yet been conclusively legally clarified. Today, this party has announced that it will realize a first tranche on November 11, 2022; the remaining shares would also be up for realization at a later date. Mr Frers has announced legal actions against this.

 

The third party has not yet stated what its intentions are after the announced acquisition of the share package. paragon GmbH & Co. KGaA regards these events as an attempt of a hostile takeover. Its general partner paragon GmbH has declared to the company that, irrespective of the outcome of the proceedings, the sole management of the company lies on paragon GmbH and Mr Frers remains its managing director.

 

About paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company’s portfolio includes the Electronics operating segment’s innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. With Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange, the Group is also active in the Electromobility operating segment with its cutting-edge lithium-ion battery systems developed in-house. Following the sale of the Voltabox share, paragon and its Power operating segment are now acting independently in the rapidly growing automotive market for battery systems.

 

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Nuremberg (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Bangalore (India) and Oroslavje (Croatia).

 

Additional information about paragon can be found at www.paragon.ag.

 

 

Capital Market & Press Contact

 

paragon GmbH & Co. KGaA

 

Dr. Martin Esser

Bösendamm 11

33129 Delbrück, Germany

Phone: +49 (0) 52 50 - 97 62-200

Fax: +49 (0) 52 50 - 97 62-102

Email: investor@paragon.ag

 

 

09-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

paragon GmbH & Co. KGaA

Bösendamm 11

33129 Delbrück

Germany

Phone:

+49 (0)5250 97 62 - 0

Fax:

+49 (0)5250 97 62 - 60

E-mail:

investor@paragon.ag

Internet:

www.paragon.ag

ISIN:

DE0005558696, DE000A2GSB86,

WKN:

555869, A2GSB8,

Listed:

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

EQS News ID:

1483475


 

End of Announcement

EQS News Service

show this
show this