EQS-News

paragon founder bundles shares in family holding

EQS-News: paragon GmbH & Co. KGaA / Key word(s): Miscellaneous paragon founder bundles shares in family holding 26.01.2024 / 15:24 CET/CEST The issuer is solely responsible for the content of this announcement. paragon founder bundles shares in family holding

• Klaus Dieter Frers has transferred his 49.3% share package in paragon GmbH & Co. KGaA to Frers Family Office GmbH
• Wife Brigitte Frers has also contributed her paragon shares
• Frers Family Office GmbH is now the largest shareholder of paragon GmbH & Co. KGaA
• BaFin has exempted Frers Family Office GmbH from the mandatory offer

 

Delbrück, January 26, 2024 - The founder of paragon GmbH & Co. KGaA [ISIN DE0005558696], Klaus Dieter Frers, has informed the company that both he and his wife have transferred all paragon shares they own to Frers Family Office GmbH.  With a stake of 50%+1 share, this company is now the largest shareholder of paragon GmbH & Co. KGaA.

 

According to Klaus Dieter Frers, Managing Director of the general partner of paragon GmbH & Co. KGaA, paragon GmbH, the bundling had been planned for some time, but could only be implemented after the repurchase of a block of shares last year. Mr. Klaus Dieter Frers holds approximately 98.6% of the shares in Frers Family Office GmbH, which is based in Delbrück. The remaining shares are held by his wife Brigitte. Klaus Dieter Frers is also Managing Director of the company, which functions as a family holding company.

 

"Basically, this step does not change the shareholder structure. This also ensures continuity for paragon," explained Klaus Dieter Frers in response to questions from the capital market.

The Federal Financial Supervisory Authority (BaFin) has approved the application for voting rights not to be taken into account in accordance with Section 36 No. 3 WpÜG. Frers Family Office GmbH is therefore exempt from making a mandatory offer.

 

About paragon GmbH & Co. KGaA

Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon's Power business unit supplies battery management systems and traction batteries.