DAB Bank AG / Key word(s): Squeeze Out
27.03.2015 12:24
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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DAB Bank AG: BNP Paribas Beteiligungsholding AG sets cash compensation at
EUR 4.78 per share for squeeze-out under merger law
Munich, March 27, 2015. On December 17, 2014, Munich-headquartered BNP
Paribas Beteiligungsholding AG notified the Management Board of DAB Bank AG
of its intention to ask the Shareholders' Meeting of DAB Bank AG to adopt a
resolution regarding the transfer of the shares held by the minority
shareholders against payment of appropriate cash compensation (squeeze-out
under merger law pursuant to Section 62 (1) and (5) of the German
Reorganization Act (UmwG) in conjunction with Section 327a and following of
the German Stock Corporations Act (AktG)) as part of the absorption of DAB
Bank AG by BNP Paribas Beteiligungsholding AG.
BNP Paribas Beteiligungsholding AG, which holds around 91.69% of the share
capital of DAB Bank AG, today informed the Management Board of DAB Bank AG
that it is repeating and finalizing its transfer request dated December 17,
2014. BNP Paribas Beteiligungsholding AG has set the appropriate cash
compensation for the transfer of the shares held by the minority
shareholders of DAB Bank AG to BNP Paribas Beteiligungsholding AG (as
majority shareholder) at EUR 4.78 for each no-par bearer share of DAB Bank
AG.
The Management Boards of DAB Bank AG and BNP Paribas Beteiligungsholding AG
have approved the draft merger agreement by and between DAB Bank AG, the
transferring company, and BNP Paribas Beteiligungsholding AG, the absorbing
company that is required to carry out the squeeze-out under German merger
law. The Supervisory Board of BNP Paribas Beteiligungsholding AG has
already approved the conclusion of the merger agreement. It is planned for
the merger agreement to be notarized on April 13, 2015 after the
Supervisory Board of DAB Bank AG has granted its approval.
The resolution to transfer the shares held by the minority shareholders of
DAB Bank AG to BNP Beteiligungsholding AG as the majority shareholder
against payment of appropriate cash compensation in accordance with Section
327a and following of the German Stock Corporation Act (AktG) will be on
the agenda of the Annual Shareholders' Meeting of DAB Bank AG scheduled for
May 29, 2015.
DAB Bank AG
The Management Board
Contact:
If you have queries, please contact Dr. Jürgen Eikenbusch, DAB Bank AG, +49
89 500 68 1595 or ir@dab.com.
27.03.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: DAB Bank AG
Landsberger StraÃe 300
80687 München
Germany
Phone: +49 (0)89 500 68 1696
Fax: +49 (0)89 500 68 669
E-mail: ir@dab.com
Internet: www.dab-bank.de
ISIN: DE0005072300
WKN: 507230
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: DAB Bank AG: BNP Paribas Beteiligungsholding AG sets cash compensation at EUR 4.78 per share for squeeze-out under merger law
| Source: EQS Group AG