Berlin, October 22, 2020 - Marriott DH Holding AG (hereinafter referred to as "Marriott DH Holding") submitted to the management board of Design Hotels AG (hereinafter the "Company") the formal request pursuant to section 62(1) and (5) sentence 1 of the German Transformation Act (Umwandlungsgesetz - "UmwG") in conjunction with sections 327a et seqq. of the German Stock Corporation Act (Aktiengesetz - "AktG") to undertake the procedure of transfer of shares of the minority shareholders of the Company for reasonable compensation in cash in connection with a merger between the Company and Marriott DH Holding by way of absorption (so-called merger squeeze-out) and for this purpose have the general meeting of the Company to resolve on the transfer of the shares of the minority shareholders of the Company to Marriott DH Holding within three months upon conclusion of the merger agreement. The amount of the cash compensation to be paid by Marriott DH Holding to the minority shareholders of the Company will be communicated at a later stage.
Marriott DH Holding has evidenced that it holds shares of the Company representing more than 90 percent of the share capital and is thus main shareholder within the meaning of section 62(5) sentence 1 of the German Transformation Act.
The effectiveness of the merger squeeze-out is still subject to approval by the general meeting of the Company and the registration of the transfer resolution and the merger in the commercial registers at the seats of Marriott DH Holding and the Company.
The Management Board
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