RENK AKTIENGESELLSCHAFT
DGAP-Ad-hoc: RENK AG / Key word(s): Squeeze Out
Augsburg, 16 November 2020. Rebecca BidCo AG (formerly: Rebecca BidCo GmbH) (?Rebecca BidCo") notified Renk Aktiengesellschaft (?RENK") on 7 October 2020 that it holds RENK shares representing more than 90% of RENK's registered share capital, and submitted the request pursuant to Sec. 62 para. 1 und para. 5 of the German Transformation Act (UmwG) in conjunction with Sec. 327a para. 1 sentence 1 of the German Stock Corporation Act (AktG) that RENK's general shareholders' meeting shall resolve to transfer the shares of the remaining shareholders (minority shareholders) to Rebecca BidCo in exchange for an adequate cash compensation in connection with a merger of RENK into Rebecca BidCo (merger squeeze-out - verschmelzungsrechtlicher Squeeze-out). Today, Rebecca BidCo confirmed to RENK its squeeze-out request and further specified that it has determined the adequate cash compensation pursuant to Sec. 327b para. 1 first sentence AktG at EUR 105.72 per no-par-value bearer share in RENK. Furthermore, Rebecca BidCo has asked RENK to convoke an extraordinary general meeting for a date within the time period of no more than three months after the execution of the merger agreement between Rebecca BidCo and RENK in order to approve the transfer of the shares held by the minority shareholders of RENK to Rebecca BidCo. The extraordinary general meeting of the company will probably take place near the end of the year 2020. About RENK: RENK AG is a manufacturer of special gear units and transmissions for tracked vehicles, industrial applications and the shipbuilding industry as well as components for propulsion technology and test systems, supplying customers all over the world. The Company holds a globally leading position for automatic transmissions for tracked vehicles, gear systems for navy vessels and horizontal slide bearings. Contact: Mr Florian Hofbauer CEO Gögginger Straße 73 86159 Augsburg +49 (0) 821 5700 215
16-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | RENK AG |
| Gögginger Straße 73 | |
| 86159 Augsburg | |
| Germany | |
| Phone: | 0821-5700-266 |
| Fax: | 0821-5700-573 |
| E-mail: | winfried.vogl@renk.biz |
| Internet: | https://www.renk-ag.com |
| ISIN: | DE0007850000, DE0007850000 |
| WKN: | 785000 |
| Listed: | Regulated Market in Munich; Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Stuttgart |
| EQS News ID: | 1148380 |
| End of Announcement | DGAP News Service |
1148380 16-Nov-2020 CET/CEST
