21 July 2023

Charles Schwab sells shares in Leoni AG - Implementation of restructuring plan and thus delisting in the near future

by Attorney-at-law Martin Arendts, M.B.L.-HSG

Despite recent confirmation of the restructuring plan, which provides in particular for a reduction of the share capital of Leoni AG to zero euros, and now dismissal of the appeals filed against it, The Charles Schwab Corporation had acquired 3.98% of the shares in June. According to a voting rights notification published today, it has reduced this position, at least for the most part, as of July 19, 2023. According to the notification, Charles Schwb now holds only 0.87%.

Barring a legal miracle, the restructuring plan should be implemented soon. The stock market listing will end as a result.

Confirmation of restructuring plan:
https://spruchverfahren.blogspot.com/2023/06/leoni-ag-restrukturierungsgericht.html

Rejection of complaints:
https://spruchverfahren.blogspot.com/2023/07/leoni-ag-landgericht-nurnberg-furth.html

Appeal by shareholders' association SdK:
https://spruchverfahren.blogspot.com/2023/05/schutzgemeinschaft-der-kapitalanleger.html

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