• WKN: JST400
  • ISIN: DE000JST4000
  • Land: Deutschland

Nachricht vom 22.10.2019 | 15:05

JOST Werke AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution


22.10.2019 / 15:05
Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

On October 21, 2019, Allianz Global Investors GmbH, Frankfurt am Main, Germany, notified JOST Werke AG in accordance with Section 43 (1) WpHG in connection with reaching or exceeding the 10% threshold pursuant to the voting rights notification dated September 25, 2019, of the following:

Ladies and Gentlemen,

We refer to our notification of voting rights pursuant to Sections 33, 34 WpHG on September 25, 2019, with regard to JOST Werke AG (the 'Company').

With regard to the objectives pursued with the acquisition of the voting rights, we hereby announce pursuant to Section 43 (1) Sentences 1 and 3 WpHG that
  1. we do not directly hold any voting rights in the company. All voting rights are fully allocated through funds managed by us (the 'Funds'), which in turn hold the voting rights;
  2. the participation of the Funds in the Company serves to generate trading profits;
  3. Depending on the stock market price and the general economic situation of the Company, we may intend to acquire additional voting rights for one or more funds within the next twelve months by way of purchase or by other means;
  4. we aim to exert influence on the composition of the company's administrative, management and supervisory bodies by expressing opinions, providing advice and making recommendations. We do not seek to participate in the relevant corporate bodies or in the active management of the Company itself (not even via affiliated third parties), nor do we seek to have any legal or factual authority to issue directives;
  5. At present, we do not intend to significantly change the Company's capital structure, in particular regarding the ratio of equity and debt financing. With regard to the dividend policy, we expressly support the Company's approach as described in the 2018 Annual Report to ensure that financial management provides the necessary financial flexibility for further growth in order to facilitate any acquisition opportunities. To this end, we generally consider it more important to improve the Company's financial strength than to pursue a constant distribution policy.

Furthermore, in accordance with Section 43 (1) sentences 1 and 4 WpHG, we notify you of the following with regard to the origin of the funds used to acquire the voting rights:

The voting rights were acquired through funds managed by us. Therefore, we have not raised any equity or borrowed funds for the acquisition of the voting rights.

22.10.2019 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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