by Attorney-at-law (Rechtsanwalt) Martin Arendts, M.B.L.-HSG
On 4 December 2017, the Annual General Meeting of biolitec AG, Vienna, decided to exclude all minority shareholders in accordance with section 1 (1) GesAusG (squeeze-out) in return for a cash compensation of EUR 20.43 per share. This resolution was now entered into the commercial register (HG Wien) on February 7, 2018 and published on February 13, 2018. The sole shareholder of biolitec AG is now the main shareholder, Dr. Ing. Wolfgang Neuberger.
The appropriateness of the cash settlement amount offered will be judicially reviewed in a review process (Überprüfungsverfahren).
The current biolitec AG was formed mainly by a cross-border (downward) merger in 2013 of the listed German Biolitec AG, Jena, on its subsidiary, Biolitec Unternehmensbeteiligungs I AG, Vienna.
On 4 December 2017, the Annual General Meeting of biolitec AG, Vienna, decided to exclude all minority shareholders in accordance with section 1 (1) GesAusG (squeeze-out) in return for a cash compensation of EUR 20.43 per share. This resolution was now entered into the commercial register (HG Wien) on February 7, 2018 and published on February 13, 2018. The sole shareholder of biolitec AG is now the main shareholder, Dr. Ing. Wolfgang Neuberger.
The appropriateness of the cash settlement amount offered will be judicially reviewed in a review process (Überprüfungsverfahren).
The current biolitec AG was formed mainly by a cross-border (downward) merger in 2013 of the listed German Biolitec AG, Jena, on its subsidiary, Biolitec Unternehmensbeteiligungs I AG, Vienna.
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