comdirect bank AG

  • WKN: 542800
  • ISIN: DE0005428007
  • Land: Germany

Nachricht vom 26.02.2020 | 18:26

comdirect bank AG: Cash-merger Squeeze-Out / Request for transfer of minority shares

comdirect bank AG / Key word(s): Squeeze Out
comdirect bank AG: Cash-merger Squeeze-Out / Request for transfer of minority shares

26-Feb-2020 / 18:26 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Quickborn, 26 February 2020 - Today, COMMERZBANK Aktiengesellschaft, Frankfurt/Main, ("Commerzbank") submitted the formal request pursuant to section 62(1) and (5) sentence 1 of the German Transformation Act (Umwandlungsgesetz - UmwG) in conjunction with sections 327a et seqq. of the German Stock Corporation Act (Aktiengesetz - "AktG") to the Management Board of comdirect bank Aktiengesellschaft ("comdirect")to execute the procedure of the transfer of shares of the minority shareholders of comdirect against adequate cash compensation in relation with a merger between comdirect and Commerzbank through absorption (so-called merger squeeze-out) and to this purpose have the general meeting of comdirect resolve on the transfer of the shares of the minority shareholders within three months upon conclusion of the merger agreement.

The merger agreement will contain a statement pursuant to section 62(5) sentence 2 German Transformation Act that a squeeze-out of the minority shareholders of comdirect as the transferring entity shall occur in the context of the merger. Commerzbank will communicate the amount of the appropriate cash compensation, which Commerzbank will pay to the minority shareholders in return for the transfer of the shares, at a later date.

Commerzbank has confirmed that it holds a participation of around 90.29% of the share capital of comdirect and is thus main shareholder within the meaning of section 62(5) sentence 1 German Transformation Act.

The effectiveness of the cash merger squeeze-out is still subject to the resolution by the comdirect general meeting and the registration of the transfer resolution and the merger in the commercial registers at the seats of Commerzbank and comdirect.

Contact:
Simone Glass,
Head of Investor Relations
+49 4106 704 1966, simone.glass@comdirect.de

26-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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