DGAP-News: Clearance of registration of the squeeze-out pursuant to the German Reorganization Act
(firmenpresse) - DGAP-News: PROCON MultiMedia AG / Key word(s): Legal Matter
Clearance of registration of the squeeze-out pursuant to the German
Reorganization Act
15.06.2012 / 18:27
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The Hanseatic Higher Regional Court of Hamburg ruled in a decision which
was published on 14 June 2012 that the lawsuit against the resolution of
the Annual General Meeting of PROCON MultiMedia Aktiengesellschaft,
Hamburg, ('Company') passed on 22 December 2011 on the transfer of the
shares of the minority shareholders pursuant to Sec. 62 para. 5 German
Reorganization Act in connection with Sec. 327a et seq. German Stock
Corporation Act to the majority shareholder MHG Media Holdings AG,
Düsseldorf ('MHG') in exchange for an equitable cash compensation payment
by the majority shareholder does not hinder the registration of the
transfer resolution in the commercial registration.
The Company will apply for the registration of the transfer resolution in
the commercial register shortly. The transfer resolution will enter into
effect upon the registration of the merger of the Company upon MHG in the
commercial register at the registered office of MHG (so called squeeze-out
pursuant to the German Reorganization Act). Upon entering into effect of
the transfer resolution the title to all shares of the minority
shareholders will transfer to the majority shareholder in exchange for a
cash compensation payment in the amount of EUR 1.82 per no-par value share
of the Company. MHG will publish further details on the security law
aspects of the settlement of the cash compensation payment by an according
compensation announcement in the Federal Gazette.
The board of directors
End of Corporate News
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15.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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: PROCON MultiMedia AG
Bredowstr. 34
22113 Hamburg
Germany
Phone: 040/670 886-0
Fax: 040/670 61 59
E-mail: info(at)procon-online.de
Internet: www.procon-online.de
ISIN: DE0005122006
WKN: 512200
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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174250 15.06.2012
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Datum: 15.06.2012 - 18:27 Uhr
Sprache: Deutsch
News-ID 157042
Anzahl Zeichen: 3564
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Kategorie:
Business News
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"DGAP-News: Clearance of registration of the squeeze-out pursuant to the German Reorganization Act"
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