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MarketScreener Homepage  >  Equities  >  Xetra  >  OSRAM Licht AG    OSR   DE000LED4000

OSRAM LICHT AG

(OSR)
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DGAP-RPT: OSRAM Licht AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

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09/14/2020 | 07:40am EDT

DGAP Related Party Transactions announcement: OSRAM Licht AG / Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
OSRAM Licht AG: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution

14.09.2020 / 12:35
Dissemination of a Related Party Transactions announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


OSRAM Licht AG: Publication of material transactions with related parties pursuant to section 111c of the German Stock Corporation Act (AktG)

 

OSRAM GmbH, a subsidiary of OSRAM Licht AG (the Company), entered into a loan agreement as borrower on 11 September 2020 with ams AG as lender. According to the present knowledge of the Company, ams AG currently holds indirectly, via ams Offer GmbH, approx. 71% of outstanding OSRAM-shares and is therefore a related party of the Company pursuant to section 111a AktG. As the competent body of the Company's supervisory board, the audit committee has approved the entry into the contract on 7 September 2020.

Pursuant to the loan agreement, ams AG as lender to OSRAM GmbH will provide an unsecured credit facility with a maturity of twelve months (with a single extension option for further six months) of in total up to EUR 1,050,000,000, consisting of a term loan of EUR 600,000,000 and a revolving cash credit line of up to EUR 450,000,000 with an EURIBOR interest rate plus a margin between 2 and 4.5%, depending upon the Company's debt ratio. In addition, the Company will pay an upfront fee of 0.4% of the total credit amount and a commitment fee of 30% of the applicable margin. The Company and certain material subsidiaries of the Company acceded to this loan agreement, as well as certain financing contracts of ams AG, as guarantors, whereby the guarantee liability is limited to the amount which the respective guarantor actually has received concretely, if there would otherwise be a violation of application capital maintenance provisions.

On the basis of the available market data, the terms meet an arm's lengths test in respect to the commercial as well as documentational conditions of the financing. The financing agreement includes information obligations, general and financial obligations and events of default, that are each comparable with market standard bank-financing conditions. The Company is permitted to make early repayments (taking into account prepayment penalties, if any) under certain conditions, and it may cancel the commitments (in whole or in part). The Company is obliged to repay if certain other financing sources are available to it. The Company was supported in the preparation of the conclusion of the contract by independent external experts.

Munich, 14 September 2020

OSRAM Licht AG

Managing Board



14.09.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: OSRAM Licht AG
Marcel-Breuer-Straße 6
80807 München
Germany
Internet: www.osram-group.com

 
End of News DGAP News Service

1131099  14.09.2020 

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© EQS 2020

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Financials
Sales 2020 3 052 M 3 554 M 3 554 M
Net income 2020 -170 M -198 M -198 M
Net Debt 2020 441 M 513 M 513 M
P/E ratio 2020 -28,4x
Yield 2020 -
Capitalization 4 740 M 5 524 M 5 520 M
EV / Sales 2020 1,70x
EV / Sales 2021 1,56x
Nbr of Employees 21 800
Free-Float 22,3%
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Technical analysis trends OSRAM LICHT AG
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TrendsBullishBullishBullish
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Consensus
Sell
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Mean consensus HOLD
Number of Analysts 10
Average target price 44,44 €
Last Close Price 50,40 €
Spread / Highest target 58,7%
Spread / Average Target -11,8%
Spread / Lowest Target -32,5%
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NameTitle
Olaf Berlien Chief Executive Officer
Peter Bauer Chairman-Supervisory Board
Kathrin Dahnke Chief Financial Officer
Stefan Horst Michael Kampmann Chief Technology Officer
Christine Bortenlänger Independent Member-Supervisory Board
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