SKW Stahl-Metallurgie Holding AG
SKW Stahl-Metallurgie Holding AG: SKW reaches amicable settlement with Ines Kolmsee and Gerhard Ertl
SKW Stahl-Metallurgie Holding AG / Key word(s): Scheme of Arrangement Public disclosure of inside information according to Article 17 MAR (market abuse regulation): SKW Stahl-Metallurgie Holding AG reaches an amicable settlement with Ines Kolmsee und Gerhard Ertl Munich, March 21, 2017 The key aspects of the amicable settlement are as follows: – the D&O-Insurance will pay an amount of EUR 3.35 Mio. to SKW group of companies – Kolmsee waives her right to have the 50 per cent reduction of her pension rights (declared by the supervisory board) judicially reviewed (positive accounting effect in the amount of approx. EUR 1.75 Mio.). She also waives her right to compensation for a post-contractual non-compete obligation in the amount of approx. EUR 100,000 – Ertl waives his potential right to receive a bonus based on a long-term-incentive program in the amount of EUR 130,000 – termination of all pending litigation By entering into this amicable settlement, many years of expensive litigation will be prevented. The effects of the amicable settlement will contribute to the ongoing financial restructuring of the SKW group of companies. Contact: SKW Stahl-Metallurgie Holding AG Dr. Stefan Strobl General Counsel Prinzregentenstr. 68 81675 München Germany Phone IR/Press: +49 89 5998923-26 Fax: +49 89 5998923-29 E-Mail: ir@skw-steel.com
21-March-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | SKW Stahl-Metallurgie Holding AG |
Prinzregentenstr. 68 | |
81675 München | |
Germany | |
Phone: | +49 (0)89 5998923-0 |
Fax: | +49 (0)89 5998923-29 |
E-mail: | info@skw-steel.com |
Internet: | www.skw-steel.com |
ISIN: | DE000SKWM021 |
WKN: | SKWM02 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |