checkAd

EQS-Adhoc ADVA Optical Networking SE: Amount of the Recurring Compensation Payment under Domination and Profit and Loss Transfer Agreement with ADTRAN Holdings, Inc.

EQS-Ad-hoc: ADVA Optical Networking SE / Key word(s): Miscellaneous
ADVA Optical Networking SE: Amount of the Recurring Compensation Payment under Domination and Profit and Loss Transfer Agreement with ADTRAN Holdings, Inc.

29-Nov-2022 / 20:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


ADVA Optical Networking SE: Amount of the Recurring Compensation Payment under Domination and Profit and Loss Transfer Agreement with ADTRAN Holdings, Inc.

 

Munich, Germany,29 November 2022.

On 18 October 2022, the management board of ADVA Optical Networking SE (“ADVA”) made public that a final draft of a domination and profit and loss transfer agreement with ADVA as the controlled company and Adtran Holdings, Inc. (“Adtran Holdings”) as the controlling company and had been drawn up. This included a cash compensation pursuant to Sec. 305 of the German Stock Corporation Act (Aktiengesetz – AktG) in the amount of EUR 17.21 per ADVA share and a annually recurring compensation payment under Sec. 304 AktG in the amount of EUR 0.59 gross or EUR 0.52 net per share and fiscal year of ADVA. These amounts were based on a rounded risk- and maturity-equivalent annuity interest rate (Verrentungszinssatz) of 3.0%. In the announcement, it was pointed out that possible changes in the interest rate environment might lead to slight increases in the annually recurring compensation payment. The parties had agreed on specific amounts for annuity interest rates in a range between 3.25–5.5%. The details are described in the invitation to the extraordinary general meeting of ADVA that was published in the German Federal Gazette (Bundesanzeiger) on 24 October 2022.

After today’s meeting with the valuation expert PVT Financial Advisors SE, the management board of ADVA assumes that the annuity interest rate on 30 November 2022 will remain unchanged at 3.0%. The extraordinary general meeting will, therefore, resolve on the conclusion of a domination and profit and loss transfer agreement, whose Sec. 4 para. 2 provides for an annually recurring compensation payment in the amount of EUR 0.59 gross or EUR 0.52 net (after deduction of current corporate income tax and solidarity surcharge) per share and fiscal year of ADVA. The cash compensation payment, the amount of which the parties intended not to be affected by a change in the annuity interest rate, continues to be EUR 17.21.

Seite 1 von 3




0 Kommentare
Nachrichtenquelle: EQS Group AG
 |  118   |   |   

Schreibe Deinen Kommentar

Disclaimer

EQS-Adhoc ADVA Optical Networking SE: Amount of the Recurring Compensation Payment under Domination and Profit and Loss Transfer Agreement with ADTRAN Holdings, Inc. EQS-Ad-hoc: ADVA Optical Networking SE / Key word(s): Miscellaneous ADVA Optical Networking SE: Amount of the Recurring Compensation Payment under Domination and Profit and Loss Transfer Agreement with ADTRAN Holdings, Inc. 29-Nov-2022 / 20:14 …

Nachrichten des Autors

440 Leser
388 Leser
344 Leser
308 Leser
280 Leser
240 Leser
240 Leser
228 Leser
208 Leser
204 Leser
1396 Leser
640 Leser
508 Leser
484 Leser
440 Leser
428 Leser
388 Leser
368 Leser
364 Leser
360 Leser
2480 Leser
1616 Leser
1396 Leser
1280 Leser
1068 Leser
1064 Leser
1060 Leser
968 Leser
832 Leser
820 Leser
2480 Leser
2405 Leser
2343 Leser
2225 Leser
2172 Leser
2115 Leser
2037 Leser
1861 Leser
1717 Leser
1705 Leser