Grammer AG

  • WKN: 589540
  • ISIN: DE0005895403
  • Land: Deutschland

Nachricht vom 19.05.2017 | 15:33

Court reverses injunction imposed on Grammer

DGAP-News: Grammer AG / Key word(s): Legal Matter

19.05.2017 / 15:33
The issuer is solely responsible for the content of this announcement.

Court reverses injunction imposed on Grammer

  • Regional Court of Nuremberg-Fürth dismisses injunction petitioned by the Prevent Group
  • Placement of mandatory convertible bond issue to strategic partner was lawful
  • Further confirmation of legal opinion held by Grammer

Amberg, May 19, 2017 - In a ruling handed down today by the Regional Court of Nuremberg-Fürth, the injunction imposed on Amberg-based automotive supplier Grammer was reversed. The automotive component supplier Prevent, part of the Hastor Group, had made an attempt to prevent the issue of shares by Grammer to a strategic partner. The reversal has retrospective effect. This means that it has been adjudicated on a final and binding basis that the shares were duly issued in legally effective form.

A further legal victory by Grammer
After the Regional Court of Nuremberg had already dismissed all petitions filed by the Hastor side on Monday, this ruling also backs Grammer in its battle against the investor. Accordingly, all courts have meanwhile confirmed Grammer's assessment of all legal issues in the course of this dispute, without exception.

Company profile
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles. In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Commercial Vehicle Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats. With over 12,000 employees, Grammer operates in 19 countries around the world. Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.

Ralf Hoppe
Phone: +49 9621 66 2200
Fax: +49-9621/66-32200

19.05.2017 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.

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