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BRIEF-Majority shareholder of Uniwheels no longer wants merger
October 3, 2017 / 4:53 AM / 20 days ago

BRIEF-Majority shareholder of Uniwheels no longer wants merger

Oct 3 (Reuters) - UNIWHEELS AG:

* SAID ON MONDAY THAT ITS MAJORITY SHAREHOLDER, SUPERIOR INDUSTRIES GERMANY AG (SUPERIOR), NO LONGER WANTS TO PURSUE THE ACQUISITION OF THE FREE FLOAT OF THE COMPANY BY MERGING THE COMPANY INTO SUPERIOR

* THE COMPANY EXPECTS TO CONCLUDE THE NEGOTIATIONS WITH SUPERIOR WITH RESPECT TO THE DOMINATION AND PROFIT AND LOSS TRANSFER AGREEMENT SHORTLY AND, SUBSEQUENTLY, TO CONVENE AN EXTRAORDINARY SHAREHOLDERS’ MEETING LATER THIS YEAR TO ADOPT RESOLUTIONS REQUIRED FOR THE IMPLEMENTATION OF THE PROFIT AND LOSS TRANSFER AGREEMENT

* MINORITY SHAREHOLDERS MAY CHOOSE TO EXIT THE COMPANY

* THE DOMINATION AND PROFIT AND LOSS TRANSFER AGREEMENT MUST PROVIDE FOR AN ADEQUATE FIXED DIVIDEND

* THE COMPANY’S MANAGEMENT BOARD STILL INTENDS TO APPLY FOR THE DELISTING OF THE COMPANY’S SHARES FROM THE WARSAW STOCK EXCHANGE BY NO LATER THAN FEB. 1, 2019

* SUPERIOR SECURED 109,959 SHARES OF CO IN TENDER OFFER FOR 954,920 PAPERS IN AUG.

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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