|   Schopfloch   |  Germany

HOMAG Group AG: First-instance decision in rulings on control and profit transfer agreement

Schopfloch, August 27, 2019 – Today the Management Board of HOMAG Group AG has been informed that the Dürr Technologies GmbH has today been notified of the first instance decision of the Stuttgart Regional Court in the judicial appraisal proceedings concerning the control and profit transfer agreement between Dürr Technologies GmbH as the controlling company and HOMAG Group AG.

Accordingly, the compensation to be paid to the minority shareholders pursuant to Section 305 AktG (German Corporation Act) will be increased from the amount of EUR 31.56 agreed in the administration and profit transfer agreement to EUR 31.58 per share. The compensation agreed in the control and profit transfer agreement to be paid to the minority shareholders pursuant to Section 304 AktG (German Corporation Act) will be increased from EUR 1.18 to EUR 1.19 per share ("gross profit share") less corporation tax and solidarity surcharge according to the tax rate applicable to these taxes for the respective financial year, with the tax withheld only on the profit share subject to German corporation tax and the solidarity surcharge. The corresponding net amount of the compensation was increased from €1.01 to €1.03. The defendant and the applicants may lodge an appeal against the resolution within one month of delivery.

Disclaimer

This release contains certain statements relating to the future. Futureoriented statements are all those statements that do not pertain to historical facts and events or expressions pertaining to the future such as "believes", "estimates", "assumes", "forecasts", "intend", "may", "will", "should" or similar expressions. Such future-oriented statements are subject to risks and uncertainty since they relate to future events and are based on current assumptions of the Company, which may not occur in the future or may not occur in the anticipated form. The Company points out that such future-oriented statements do not guarantee the future; actual results including the financial position and the profitability of the HOMAG Group as well as the development of economic and regulatory framework conditions may deviate significantly (and prove unfavorable) from what is expressly or implicitly assumed or described in these statements. Even if the actual results of the HOMAG Group including the financial position and profitability as well as the economic and regulatory framework conditions should coincide with the future-oriented statements in this release, it cannot be guaranteed that the same will hold true in the future.

Back to List