DGAP-Adhoc
GRENKE AG: GRENKE proposes an increase in the share capital from company funds and a 1:3 stock split to the Annual General Meeting
DGAP-Ad-hoc: GRENKE AG / Key word(s): Corporate Action
GRENKE proposes an increase in the share capital from company funds and a 1:3 stock split to the Annual General Meeting |
GRENKE's share price has risen continuously in recent years. The aim of the increase in GRENKE AG's share capital from company funds proposed to the Annual General Meeting and the 1:3 stock split
is to increase the trading volume in GRENKE shares making the shares even more attractive to investors.
GRENKE AG's share capital currently amounts to EUR 18,880,774.47 and is divided into 14,771,034 no-par value registered shares with a notional interest in the share capital of EUR 1.28 (rounded).
Following the execution of the capital increase from company funds of EUR 25,432,327.53, without the issuance of new shares, the share capital will then amount to EUR 44,313,102.00. Following the
registration of the capital increase in the commercial register and as a result of the planned 1:3 stock split, one no-par value share with an increased notional interest in the share capital of
EUR 3.00 per share will be replaced by three shares each with a notional interest in the share capital of EUR 1.00. The Company's shareholder structure is not affected by the capital increase from
company funds nor the stock split. The capital increase from company funds also does not affect the Company's equity on the balance sheet because the transaction only results in a reclassification
within equity.
The agenda for the Annual General Meeting, which was resolved by the Supervisory Board and previously by the Board of Directors, is expected to be published in the Federal Gazette on March 27, 2017. The corresponding provisions of the Articles of Association will be amended with regard to the planned stock split.
The Board of Directors
End of ad hoc announcement
For further information, please contact:
GRENKE AG
Corporate Communications / Investor Relations
Neuer Markt 2
76532 Baden-Baden
Phone: +49 7221 5007-204
Email: investor@grenke.de
Internet: http://www.grenke.de
14-March-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: | English |
Company: | GRENKE AG |
Neuer Markt 2 | |
76532 Baden-Baden | |
Germany | |
Phone: | +49 (0)7221 50 07-204 |
Fax: | +49 (0)7221 50 07-4218 |
E-mail: | investor@grenke.de |
Internet: | www.grenke.de |
ISIN: | DE000A161N30 |
WKN: | A161N3 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |
|
553753 14-March-2017 CET/CEST