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Hornbach Holding Aktiengesellschaft: Hornbach Holding AG shareholders approve change of legal form to KGaA
DGAP-News: Hornbach Holding Aktiengesellschaft / Key word(s): AGM/EGM
Hornbach Holding Aktiengesellschaft: Hornbach Holding AG shareholders
approve change of legal form to KGaA
10.07.2015 / 13:20
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Hornbach Holding AG shareholders approve change of legal form to KGaA
CFO Roland Pelka: "Change of legal form will boost Hornbach's position on
capital market." / Just one listed share class in future
Neustadt a. d. Weinstrasse, July 10, 2015.
Hornbach Holding AG will be changing its legal form to a German partnership
limited by shares (KGaA). This move was unanimously approved by the
company's shareholders at this year's Annual General Meeting on July 9,
2015 and with a majority of more than 99 % at the separate meeting of
preference shareholders held on July 10, 2015 in Landau (Pfalz). Following
the change of legal form, the company will operate under the name HORNBACH
Holding AG & Co. KGaA. The company will in future have only one share class
listed on the stock exchange, namely ordinary shares with voting
entitlement.
"The change in legal form to a KGaA, thus standardizing our share
structure, and the targeted listing of all non-par value ordinary bearer
shares in the KGaA will boost our position on the capital market. Not only
that, it should make it easier to raise any capital needed in future and
thus promote the company's further development", commented company CFO
Roland Pelka. The number of Holding shares admitted for trading, and thus
the company's market capitalization, will double. According to the CFO,
this pooling of investor interest in just one share class could increase
the liquidity of the KGaA's ordinary shares.
The change in the company's legal form to a KGaA will only become effective
upon entry in the Commercial Register. As a result, all non-voting
preference bearer shares will be converted into non-par value ordinary
bearer shares with voting rights. The non-par value ordinary bearer shares
in the AG will also be converted into non-par value ordinary bearer shares
in the KGaA.
Upon entry of the change of form in the Commercial Register, shareholders
in Hornbach Holding AG will become shareholders in HORNBACH Holding AG &
Co. KGaA. They will continue to hold the same scope of shareholding and the
same number of shares in Hornbach Holding as was the case before the change
in form took effect. In this respect, no steps are required by
shareholders.
To compensate the loss of preference status, preference shareholders are to
receive an additional cash payment of Euro 0.38 per preference share. Based
on the shareholdings reported by custodian banks, this will be transferred
to such banks by the Settlement Center no later than the third banking day
after entry of the change of legal form in the Commercial Register.
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10.07.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP 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: Hornbach Holding Aktiengesellschaft
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
ISIN: DE0006083439
WKN: 608343
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News-Service
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377045 10.07.2015
Hornbach Holding AG shareholders approve change of legal form to KGaA
CFO Roland Pelka: "Change of legal form will boost Hornbach's position on
capital market." / Just one listed share class in future
Neustadt a. d. Weinstrasse, July 10, 2015.
Hornbach Holding AG will be changing its legal form to a German partnership
limited by shares (KGaA). This move was unanimously approved by the
company's shareholders at this year's Annual General Meeting on July 9,
2015 and with a majority of more than 99 % at the separate meeting of
preference shareholders held on July 10, 2015 in Landau (Pfalz). Following
the change of legal form, the company will operate under the name HORNBACH
Holding AG & Co. KGaA. The company will in future have only one share class
listed on the stock exchange, namely ordinary shares with voting
entitlement.
"The change in legal form to a KGaA, thus standardizing our share
structure, and the targeted listing of all non-par value ordinary bearer
shares in the KGaA will boost our position on the capital market. Not only
that, it should make it easier to raise any capital needed in future and
thus promote the company's further development", commented company CFO
Roland Pelka. The number of Holding shares admitted for trading, and thus
the company's market capitalization, will double. According to the CFO,
this pooling of investor interest in just one share class could increase
the liquidity of the KGaA's ordinary shares.
The change in the company's legal form to a KGaA will only become effective
upon entry in the Commercial Register. As a result, all non-voting
preference bearer shares will be converted into non-par value ordinary
bearer shares with voting rights. The non-par value ordinary bearer shares
in the AG will also be converted into non-par value ordinary bearer shares
in the KGaA.
Upon entry of the change of form in the Commercial Register, shareholders
in Hornbach Holding AG will become shareholders in HORNBACH Holding AG &
Co. KGaA. They will continue to hold the same scope of shareholding and the
same number of shares in Hornbach Holding as was the case before the change
in form took effect. In this respect, no steps are required by
shareholders.
To compensate the loss of preference status, preference shareholders are to
receive an additional cash payment of Euro 0.38 per preference share. Based
on the shareholdings reported by custodian banks, this will be transferred
to such banks by the Settlement Center no later than the third banking day
after entry of the change of legal form in the Commercial Register.
---------------------------------------------------------------------
10.07.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP 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: Hornbach Holding Aktiengesellschaft
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
ISIN: DE0006083439
WKN: 608343
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News-Service
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377045 10.07.2015
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