paragon GmbH & Co. KGaA

  • WKN: 555869
  • ISIN: DE0005558696
  • Land: Deutschland

Nachricht vom 10.02.2021 | 14:55

Partial Sale of Block of Voltabox Shares Expected in March

DGAP-News: paragon GmbH & Co. KGaA / Key word(s): Letter of Intent
10.02.2021 / 14:55
The issuer is solely responsible for the content of this announcement.

Partial Sale of Block of Voltabox Shares Expected in March

Delbrück, Germany, February 10, 2021 - The due diligence conducted by Swiss investors in the context of the sale of the Voltabox shares has been completed successfully. The negotiations on the sale of the block of shares owned by paragon [ISIN DE0005558696] look set to be finalized in March.

As previously reported on December 10, 2020, paragon and Swiss investors signed a letter of intent for the sale of the first block of Voltabox AG shares in December. The agreement provides for the acquisition of 18% of the share capital and the granting of call options for acquiring further shares of up to around 32% of Voltabox's share capital owned by paragon.

The due diligence conducted by Swiss investors has now been completed successfully. paragon is currently reviewing further proposals from the buyers on the structure of the transaction. It is possible that the percentages could shift between the package to be acquired immediately and the further packages to be acquired by exercising call options.

The potential new shareholders of Voltabox AG were impressed by the progress the company made in the methodical preparations of the market launch of the innovative Voltabox-Flow-Shape-Design(R). Voltabox is currently processing a number of domestic and international inquiries, while at the same time creating the conditions for the industrialization of the technology.


Profile: paragon GmbH & Co. KGaA

paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company's portfolio includes the Electronics operating segment's innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., which is active in the rapidly growing electromobility segment with cutting-edge lithium-ion battery systems developed inhouse.

In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).

Additional information about paragon can be found at www.paragon.ag.


Capital Market & Press Contact

paragon GmbH & Co. KGaA

Stefan Westemeyer
Bösendamm 11
33129 Delbrück, Germany
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-63
Email: investor@paragon.ag



10.02.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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