iQ Power AG / Miscellaneous
28.04.2010 20:10
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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iQ Power AG: Start of Negotiations to Acquire Slovenian Battery Maker
Akubat
- Start of unconditional negotiations
- Focus is on flexibly adjusting production capacity and upholding superb
battery manufacturing quality as key benefits of the acquisition
Zug/Switzerland, 28 April 2010: iQ Power AG (ISIN: CH0020609688, WKN:
A0DQVL, Symbol: IQPB), the developer and marketer of environmentally
friendly and technologically advanced starter batteries for motor vehicles,
has announced today's decision by the board of directors regarding the
company's intention of acquiring the Slovenian battery maker Akubat. The
probable conditions for taking a majority stake in Akubat, the company's
current cooperation partner, are being examined as part of a due diligence.
The acquisition of Akubat, involving what is called a compulsory
contribution, would give iQ Power AG the opportunity of significantly
expanding current production capacities with an eye towards its bold
corporate growth strategy. Such a majority takeover would enable iQ Power
to access Akubat's existing development and manufacturing resources
directly and more flexibly in the future. iQ Power would then be able to
process customer orders with greater versatility and more rapid response
times.
Efforts will be made to conclude these unconditional discussions in the
fourth quarter of this year.
The CEO
About iQ POWER
iQ Power AG is a developer and supplier of innovative starter batteries for
motor vehicles. The products are technologically advanced, deliver greater
efficiency, and are environmentally sound and lighter in weight. The
company's many achievements include the development of the world's first
software-controlled smart car battery. Industrial batteries and system
solutions for electrical energy management in vehicles help round out its
operational portfolio.
The company's operational element is iQ Power GmbH in Chemnitz (Germany),
which is a wholly owned subsidiary of iQ Power AG. Headquartered in Zug
(Switzerland), iQ Power AG is a publicly listed stock corporation whose
shares are traded on the regulated market (General Standard segment) of the
Frankfurt Stock Exchange, over the counter on the securities exchanges in
Berlin, Düsseldorf, Munich and Stuttgart, as well as on Xetra (ISIN:
CH0020609688, WKN: A0DQVL, IQPB).
Contact:
Company contact:
iQ Power AG
MetallstraÃe 9
CH-6304 Zug
Tel.: +41(0)417680363
Fax: +41(0)417680368
info@iqpower.com
www.iqpower.com
Investor Relations contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
60486 Frankfurt am Main
Tel: +49(0)69 74 30 37 00
Fax: +49(0)69 74 30 37 22
iQPower@gfei.de
www.gfei.de
28.04.2010 20:10 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: iQ Power AG
Metallstrasse 9
6304 Zug
Schweiz
Phone: +41 41 7680360
Fax: +41 41 768 03 68
E-mail: investor-relations@iqpower.com
Internet: www.iqpower.com
ISIN: CH0020609688
WKN: A0DQVL
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Start of Negotiations to Acquire Slovenian Battery Maker
| Source: EQS Group AG