DGAP-News: CEWE: change in legal form to result in EUR 10 million tax benefit
(firmenpresse) - DGAP-News: CEWE Stiftung&Co. KGaA / Key word(s): Miscellaneous
CEWE: change in legal form to result in EUR 10 million tax benefit
01.10.2013 / 11:14
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CEWE: change in legal form to result in EUR 10 million tax benefit
- Change in legal form registered
- Share to be listed tomorrow
- Tax benefit of around EUR 10 million expected
- Financial year of 2013: CEWE COLOR remains on target
Oldenburg, 1 October 2013. From now on, CEWE COLOR Holding AG (SDAX, ISIN:
DE 0005403901) will operate under the name of CEWE Stiftung&Co. KGaA. The
Oldenburg Court of Registration entered the change in the legal form of the
company today, in implementation of the decision taken at the Annual
General Meeting on 5 June 2013. With 97.6 percent of the votes, the
shareholders decided to pool the operative business under the name of CEWE
Stiftung&Co. KGaA in future. This means that a structural tax
disadvantage will no longer apply, to result in a tax benefit with a
probable cash value of around EUR 10 million in the coming few years. The
value of the 7.38 million shares will increase by a calculated additional
value of EUR 1.36 per share. Dr. Olaf Holzkämper, CEWE Stiftung&Co. KGaA
CFO, points out: 'This tax advantage is not unusual as a tax relief scheme;
it serves to establish the currently normal tax status. In this way we are
giving our shareholders a clear added value. Besides, with the change in
legal form, we have the advantages of a stock-exchange listed family
enterprise with a long-term focus together with a modern legal form which
is established on international capital markets.'
Share trades under the name of CEWE Stiftung&Co. KGaA as of Wednesday
When trading commences on 2 October 2013, the security description of the
CEWE COLOR Holding AG share, bearing the ISIN 'DE 0005403901', will be
changed to CEWE Stiftung&Co. KGaA. Orders for the CEWE Color Holding AG
share which have not yet been executed will all be automatically deleted.
Trading in the CEWE Stiftung&Co. KGaA share can subsequently commence
when the stock exchange opens on 2 October 2013. The share will be listed
unchanged in the SDAX. Shares in the shareholder depots will automatically
be changed to the new name by Clearstream Banking AG. The change is free of
any commission or expense for shareholders.
CEWE confirms growth targets
The Board of Management expects to see more growth in 2013 and confirms its
targets on the basis of the positive development so far this year:
full-year turnover in the growth sector of online printing is to increase
by 40%, to EUR 60 million, with Group turnover rising by up to 5 %, to EUR
510 to 530 million. The EBIT for 2013 should be in the range of EUR 27 to
33 million, and earnings per share should amount to EUR 2.44 to EUR 3.06.
Should you have any queries, please contact:
CEWE Stiftung&Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, e-mail: IR(at)cewe.de
Internet: www.cewe.de , www.cewe-fotobuch.de , www.cewe-print.de ,
www.viaprinto.de , www.saxoprint.de
Available in the App Stores: The CEWE Investor Relations app for your
iPad(R) or android tablet, including annual reports and quarterly reports
as well as sustainability reports.
Financial schedule:
16 Oktober 2013 CEWE Capital Market Day,Dresden
7 November 2013 Announcement of the Q3 2013 figures
12 November 2013 German Equity Forum, Frankfurt
About CEWE: The photo and online print service company CEWE, with 12
highly-technical production operations and a staff of around 3,300
employees in 24 European countries, is both market and technological
leader. In 2012 CEWE delivered around 2.5 billion prints, 5.6 million CEWE
PHOTO BOOKS and photo gift articles to more than 34,000 retail partners to
generate consolidated turnover of 503.3 million euros. CEWE is a 'first
mover' in the introduction of new digital technologies and products. In the
new online printing service operating area, printed material for
advertising is marketed through the sales platforms CEWE-PRINT.de,
saxoprint and viaprinto. CEWE celebrated its 50th company anniversary in
2011. In 1961 CEWE was founded by Senator h. c. Heinz Neumüller. The
company went public under the leadership of Hubert Rothärmel in 1993. CEWE
Stiftung&Co. KGaA is listed on the SDAX.
End of Corporate News
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01.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: CEWE Stiftung&Co. KGaA
Meerweg 30-32
26133 Oldenburg
Germany
Phone: +49 (0)441 40 4-1
Fax: +49 (0)441 40 4-42 1
E-mail: IR(at)cewecolor.de
Internet: www.cewecolor.de
ISIN: DE0005403901
WKN: 540390
Indices: SDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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232801 01.10.2013
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Datum: 01.10.2013 - 11:14 Uhr
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News-ID 301450
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