DGAP-Adhoc
SMT Scharf AG sells interest in Dosco Holdings Ltd.
SMT Scharf AG / Key word(s): Restructure of Company/Disposal
07.05.2013 20:46
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Hamm, May 7, 2013 - SMT Scharf AG (WKN/German Securities Number 575198,
ISIN DE0005751986) announces the sale of its subsidiary Dosco Holdings Ltd.
SMT Scharf AG, Hamm, Germany, has today sold its wholly-owned subsidiary
Dosco Holdings Ltd., Tuxford, United Kingdom, to an acquisition vehicle
involving Dosco's management team. At the same time, all SMT Scharf board
members are stepping down from their management roles at Dosco.
Consequently, no connection will exist between SMT Scharf and Dosco in the
future.
The sale price amounts to EUR 2.0 million, with an initial installment of
EUR 1.5 million being paid immediately, and the residual EUR 0.5 million
remaining as a vendor loan carrying a 6 % p.a. interest rate, to be repaid
within five years at the latest. Besides this, the Scharf Group will incur
no secondary liabilities for Dosco's liabilities, especially not in
connection with the Dosco pension fund.
SMT Scharf's strategic concentration on its core business of captivated
railway systems is the reason for this step.
Issued by: SMT Scharf AG
Römerstr. 104
59075 Hamm
Tel.: +49(0)2381-960212
Fax: +49(0)2381-960311
Sector: Mechanical engineering
ISIN: DE0005751986
German Securities Identification Number (WKN): 575198
Stock exchanges: Regulated Market/Prime Standard: Frankfurt, Regulated
Unofficial Market: Berlin-Bremen, Düsseldorf, Hamburg, Munich, Stuttgart
< End of ad hoc disclosure>
07.05.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SMT Scharf AG
Römerstrasse 104
59075 Hamm
Germany
Phone: +49 2381 960-01
Fax: +49 2381 960-230
E-mail: info@smtscharf.com
Internet: www.smtscharf.com
ISIN: DE0005751986
WKN: 575198
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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ISIN DE0005751986) announces the sale of its subsidiary Dosco Holdings Ltd.
SMT Scharf AG, Hamm, Germany, has today sold its wholly-owned subsidiary
Dosco Holdings Ltd., Tuxford, United Kingdom, to an acquisition vehicle
involving Dosco's management team. At the same time, all SMT Scharf board
members are stepping down from their management roles at Dosco.
Consequently, no connection will exist between SMT Scharf and Dosco in the
future.
The sale price amounts to EUR 2.0 million, with an initial installment of
EUR 1.5 million being paid immediately, and the residual EUR 0.5 million
remaining as a vendor loan carrying a 6 % p.a. interest rate, to be repaid
within five years at the latest. Besides this, the Scharf Group will incur
no secondary liabilities for Dosco's liabilities, especially not in
connection with the Dosco pension fund.
SMT Scharf's strategic concentration on its core business of captivated
railway systems is the reason for this step.
Issued by: SMT Scharf AG
Römerstr. 104
59075 Hamm
Tel.: +49(0)2381-960212
Fax: +49(0)2381-960311
Sector: Mechanical engineering
ISIN: DE0005751986
German Securities Identification Number (WKN): 575198
Stock exchanges: Regulated Market/Prime Standard: Frankfurt, Regulated
Unofficial Market: Berlin-Bremen, Düsseldorf, Hamburg, Munich, Stuttgart
< End of ad hoc disclosure>
07.05.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: SMT Scharf AG
Römerstrasse 104
59075 Hamm
Germany
Phone: +49 2381 960-01
Fax: +49 2381 960-230
E-mail: info@smtscharf.com
Internet: www.smtscharf.com
ISIN: DE0005751986
WKN: 575198
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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