MAN Roland Shareholders Approve Squeeze-Out of Minority Shareholders
Press release from the issuing company
May 29, 2003 -- At the annual shareholders' meeting today the shareholders of MAN Roland Druckmaschinen AG approved the planned exclusion of the minority shareholders that was announced in February. The cash settlement comes to EUR 31.79 per share. The value is based on the average share price covering the three months before the squeeze-out was announced in February 5th of this year. At the annual shareholders' meeting, individual shareholder representatives announced that they would have the adequacy of the settlement reviewed in demand settlement proceedings.
The squeeze-out permits majority stockholders to take over shares from minority owners against payment of cash compensation. It is premised on the condition of Arts. 327a et seq. German Stock Corporation Act (“AktG”) that the majority shareholder already owns 95% or more of the total stock. MAN AG owns 98.6% of the MAN Roland stock, the remaining 1.4% being free-float (numbering 174,640 shares). When the squeeze-out is concluded MAN AG will own 100% of MAN Roland stock.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.