OSRAM LICHT AG
DGAP-Ad-hoc: OSRAM Licht AG / Key word(s): Takeover/Forecast OSRAM Licht AG: Entry into a domination and profit and loss transfer agreement with ams Offer GmbH Munich, 22 September 2020 The Managing Board of OSRAM Licht AG ("OSRAM") agreed today with the Managing Board of ams AG, Premstätten ("ams") on the conclusion of a domination and profit and loss transfer agreement with ams Offer GmbH (a subsidiary of ams) as dominating company and OSRAM as controlled company. In this regard, the Managing Board and the Supervisory Board of OSRAM adopted resolutions to sign the agreement with ams Offer GmbH and to convene an Extraordinary General Meeting for 3 November 2020 in which, inter alia, a resolution is to be tabled to approve OSRAM's entry into the agreement. The domination and profit and loss transfer agreement provides that, for its duration, any minority shareholders of OSRAM will receive an annual compensation payment of EUR 2.57 (gross) per OSRAM share less the amount of any corporation tax and the solidarity surcharge at the tax rate applicable to such taxes for the respective fiscal year. In addition, minority shareholders of OSRAM will receive an offer to sell their OSRAM shares for an appropriate cash compensation of EUR 44.65 ("Compensation offer"). The amount of the annual compensation payment and the compensation offer has been determined in accordance with the legal requirements and based on an assessment of the enterprise value of OSRAM. According to this valuation, for FY21 (01.10.2020-30.09.2021) OSRAM expects comparable revenue growth between 6-10%, an adjusted EBITDA margin of 9-11% as well as Free Cash Flow ranging from balanced to a positive low double-digit million euro figure. This guidance is based on the assumption that the effects of the COVID-19 pandemic will be overcome during FY21. Accordingly, the economic consequences of any renewed intensification in the pandemic situation have not been included in the guidance figures.
Head of Investor Relations OSRAM Licht AG Investor Relations Marcel-Breuer-Straße 6 80807 München, Deutschland Tel. +49 89 6213-3030 mailto:j.baron@osram.com www.osram.com
22-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | OSRAM Licht AG |
| Marcel-Breuer-Straße 6 | |
| 80807 München | |
| Germany | |
| Phone: | +49 89 6213-0 |
| Fax: | +49 89 6213-3629 |
| E-mail: | ir@osram.com |
| Internet: | www.osram-group.com |
| ISIN: | DE000LED4000 |
| WKN: | LED400 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1135141 |
| End of Announcement | DGAP News Service |
1135141 22-Sep-2020 CET/CEST
