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Palgon AG: Palgon acquires Teltec; Change in Management Board and Supervisory Board
Palgon AG / Key word(s): Acquisition Palgon acquires Teltec; Change in Management Board and Supervisory Board
Palgon AG, Dusseldorf, Germany, (ISIN DE000A2LQ1P6, WKN A2LQ1P), concluded an agreement to acquire all shares in Teltec AG, Mainz-Kastel, Germany. Teltec is a trading group for professional film and television technology in the German-speaking market. The object of the company is trading in professional film and television equipment, associated consumables and accessories. This also includes customer consulting and technical support for entire production, post-production and broadcasting systems. The Teltec Group achieved a turnover of over EUR 100 million in the last financial year 2021. The shareholding is acquired through the purchase of shares and a contribution in kind to Palgon. The purchase and contribution agreement (post-formation agreement) is still subject to the approval of the Annual Shareholders’ Meeting of Palgon, which is expected to take place on 30 December 2022, as well as the corresponding entry in the commercial register. This General Meeting will be convened in due course. In the context of today’s conclusion of the purchase and contribution agreement, Dr. Samir Anton Azzawi-Steyrer resigned from his previous position as member of the Management Board. At the same time, the Supervisory Board of Palgon appointed Mr Ralf P. Pfeffer, Chairman of the Management Board of Teltec AG, as a new member and Chairman of the Management Board of Palgon AG. The Supervisory Board of Palgon is to be expanded to four persons in the future and will initially include the three Supervisory Board members of Teltec in addition to the current Chairman, Dr Yann Samson. The current Supervisory Board members Mr Florian Hoerthlener and Wolfgang Müller-Gülich will resign their respective mandates for this purpose at the end of the General Meeting.
Dusseldorf, 18 November 2022
Contact: Ralf P. Pfeffer Executive Board admin@palgon.de
About Palgon AG Palgon was founded in 2018 and has a share capital of 300,000.00 euros. The company’s shares are listed on the Regulated Unofficial Market of the Dusseldorf Stock Exchange.
About Teltec AG Teltec is the top-selling trading group for professional film and television technology in the German-speaking market. The object of the company is the trade in professional film and television equipment, associated consumables and accessories. This also includes customer consulting and technical support for entire production, post-production, and broadcasting systems.
18-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Palgon AG |
Königsallee 60F | |
40212 Düsseldorf | |
Germany | |
Phone: | 021188284118 |
E-mail: | admin@palgon.de |
Internet: | www.palgon.de |
ISIN: | DE000A2LQ1P6 |
WKN: | A2LQ1P |
Listed: | Regulated Unofficial Market in Dusseldorf |
EQS News ID: | 1491783 |
End of Announcement | EQS News Service |