SMT Scharf AG / Key word(s): Delisting
SMT Scharf AG: Management and Supervisory boards approve downlisting to Munich Stock Exchange's m:access segment
Hamm in Westphalia, February 5, 2021 - With the approval of the Supervisory Board the Managing Board of SMT Scharf AG has passed a resolution today to downlist the company's shares to the m:access quality segment of the Regulated Unofficial Market (Freiverkehr) of the Munich Stock Exchange.
Given this, SMT Scharf AG will apply for the revocation of its admission to trading on the Regulated Market of the Frankfurt Stock Exchange and to the Prime Standard segment, and assumes this revocation will take effect at the end of the acceptance period for the mandatory offer by shareholders Shareholder Value Beteiligungen AG and Share Value Stiftung. In parallel, SMT Scharf AG will apply for the shares to be included in the m:access segment of the Regulated Unofficial Market of the Munich Stock Exchange with the aim of ensuring that the shares are included in the m:access segment before the revocation of admission takes effect. Furthermore, the company will apply for the inclusion of its shares in the Quotation Board of the Regulated Unofficial Market (Freiverkehr) of the Frankfurt Stock Exchange, which is to follow, on a seamless basis, the termination of the admission to the Regulated Market. The shares' XETRA listing will continue regardless of this transition.
The decision to downlist was made in connection with the mandatory offer submitted by the shareholders Shareholder Value Beteiligungen AG and Share Value Stiftung pursuant to Section 35 (2) of the German Securities Acquisition and Takeover Act (WpÜG), which also constitutes a delisting offer (Section 39 (2) and (3) of the German Stock Exchange Act [BörsG]). The offer document was published on February 2, 2021, and the acceptance period will last until the end of March 2, 2021.
The company expects significant cost savings from the downlisting. At the same time, the intended inclusion in the Regulated Unofficial Market of the Munich Stock Exchange and the Quotation Board of the Frankfurt Stock Exchange will continue to ensure tradability and - due to the follow-up obligations associated with this inclusion - a high level of transparency for shareholders.
SMT Scharf AG, Hamm in Westphalia
05-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
SMT Scharf AG
+49 2381 960-01
+49 2381 960-311
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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