STEICO AKTIENGESELLSCHAFT (FRA:ST5) EQS-Adhoc: STEICO SE: Sale of the majority shares in STEICO SE
Transparency directive : regulatory news
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EQS-Ad-hoc: STEICO SE / Key word(s): Agreement Sale of the majority shares in STEICO SE Feldkirchen (Munich), 17 July 2023 – (ISIN DE000A0LR936) – STEICO SE has today been notified by Schramek GmbH, the majority shareholder of STEICO SE with a current shareholding of 61.1%, that it has signed an agreement with the Irish Kingspan Group plc and Kingspan Holding GmbH, an indirect subsidiary of Kingspan Group plc, to sell 51.0% of the shares in STEICO SE to Kingspan Holding GmbH. For the time being Schramek GmbH will still hold a further 10.1% of the shares in STEICO SE. The Management of STEICO SE expects the cooperation with Kingspan to generate sustainable synergy effects in market development as well as significant impulses for further growth. Udo Schramek will remain CEO of STEICO SE in accordance with his appointment. For the period after closing of the agreement, Kingspan Holding GmbH will, with the support of Schramek GmbH, seek representation in the Administrative Board of STEICO SE according to the shareholding of Kingspan Holding GmbH. Udo Schramek will resign from his position as Chairman of the Administrative board of STEICO SE upon closing of the agreement. However, he will remain a member of the Administrative Board of STEICO SE. As a precautionary measure, it is pointed out that the majority sale of the shares in STEICO SE does not lead to the need for a takeover offer with regard to the remaining shares in STEICO SE, as STEICO SE is only traded on the open market and therefore the provisions of the German Securities Acquisition and Takeover Act (WpÜG) do not apply. Contact
End of Inside Information
17-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | STEICO SE |
| Otto-Lilienthal-Ring 30 | |
| 85622 Feldkirchen | |
| Germany | |
| Phone: | +49 - (0)89 - 99 15 51 - 0 |
| Fax: | +49 - (0)89 - 99 15 51 - 700 |
| E-mail: | info@steico.com |
| Internet: | http://www.steico.com |
| ISIN: | DE000A0LR936 |
| WKN: | A0LR93 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
| EQS News ID: | 1681827 |
| End of Announcement | EQS News Service |
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1681827 17-Jul-2023 CET/CEST