Gentherm GmbH
W.E.T. Automotive Systems AG: Resolution of Approval for Domination and Profit and Loss Transfer Agreement Declared Null and Void in First Judicial Instance
W.E.T. Automotive Systems AG / Key word(s): Legal Matter 05.04.2012 11:05 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- By judgment as of today, rendered upon the voidance claim which was filed by the shareholder Deutsche Balaton Aktiengesellschaft, Heidelberg, the District Court Munich I (Landgericht München I) has declared null and void in first judicial instance the resolution of approval by the general shareholders' meeting of W.E.T. Automotive Systems Aktiengesellschaft of 16 August 2011 for the conclusion of the domination and profit and loss transfer agreement between W.E.T. AG and Amerigon Europe GmbH, Augsburg, Germany, dated 16 June 2011. The company intends to appeal against this judgment. Due to the decision of the District Court Munich I in first judicial instance, the domination and profit and loss transfer agreement will - notwithstanding the possibility of a repeal in a posterior decision of appeal or revision - presumably not become effective in the near future by registration with the commercial register. Accordingly, also the offer to acquire the shares of the outside shareholders against a consideration in cash of EUR 44.95 per non-par value share and the annual compensation payment in the gross amount of EUR 3.71 (equalling a net amount, based on the circumstances as of conclusion of the domination and profit and loss transfer agreement, of EUR 3.17) per non-par value share for each full business year, which are both provided for in the domination and profit and loss transfer agreement, will not enter into effect until further notice. Odelzhausen, this 5 April 2012 The Management Board 05.04.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: W.E.T. Automotive Systems AG Rudolf-Diesel-Str. 12 85235 Odelzhausen Germany Phone: +49 (0)8134 933-933 Fax: +49 (0)8134 933-401 E-mail: shareholder.office@wet-group.com Internet: www.wet-group.com ISIN: DE0005081608 WKN: 508160 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found