02.04.2015
Lloyd Fonds Aktiengesellschaft DE000A12UP29
DGAP-News: Lloyd Fonds Aktiengesellschaft: Offer approved by only one of the eleven ship entities with the necessary 75% majority. Listed shipping company strategy to be continued
DGAP-News: Lloyd Fonds Aktiengesellschaft / Key word(s):
AGM/EGM/Miscellaneous
Lloyd Fonds Aktiengesellschaft: Offer approved by only one of the
eleven ship entities with the necessary 75% majority. Listed shipping
company strategy to be continued
02.04.2015 / 18:00
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Lloyd Fonds AG: Offer approved by only one of the eleven ship entities with
the necessary 75% majority. Listed shipping company strategy to be
continued
- Necessary 75% majority not reached by ten entities
- With voting high, more than 50% of the limited partners are in favor of
the listed shipping company model
- Extraordinary shareholder meeting of Lloyd Fonds AG, at which a
resolution approving the issue of new share capital was to be passed,
has been postponed
- Lloyd Fonds continuing to realign itself as a listed shipping company
with ships of its own
Hamburg, April 2, 2015. Over the last four weeks, around 18,000 limited
partners of eleven ship entities voted on the offer to transfer the ships
to Lloyd Fonds AG in return for the issue of shares. Although most of the
subscribers are in favor of the model, the necessary 75% majority required
to approve the proposal was reached by only one of the total of eleven ship
entities. In view of this, Lloyd Fonds AG will initially not be holding the
extraordinary shareholder meeting planned for April 16, 2015 at which a
resolution was to be passed approving the combined cash/non-cash issue of
new share capital.
The listed shipping company model had met with a favorable response in the
shipping industry and also on the part of most of the ship entity
subscribers. With participation levels generally high, more than 50% of the
limited partners voted in favor of accepting the offer, thus expressing
their confidence in Lloyd Fonds AG and its planned new orientation. The
equities market was also impressed by the plans, with Lloyd Fonds stock
achieving substantial gains on brisk trading activity. In the current
environment characterized by high liquidity, very low interest rates and a
lack of any alternatives, investors are showing strong interest in
promising investments in alternative real assets. Consequently, Lloyd Fonds
AG will be continuing to pursue its strategic goal of transforming into a
listed shipping company.
It will be working on enhancing the listing shipping company model up until
the annual general meeting in July as a basis for submitting a revised
offer to some of the entities which had previously received the first offer
as well as a number of other entities. In this connection, Lloyd Fonds will
initially concentrate on container ships. In implementing the business
case, it will be using the feedback received in intensive discussions with
a large number of subscribers and taking account of current trends in the
shipping and capital market.
Kontakt:
Christiane Brüning
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-142
Fax: +49-40-325678-99
Mail: [email protected]
Hendrik Duncker
Lloyd Fonds AG
Amelungstraße 8-10
20354 Hamburg
Tel: +49-40-325678-145
Fax: +49-40-325678-99
Mail: [email protected]
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02.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
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Language: English
Company: Lloyd Fonds Aktiengesellschaft
Amelungstr. 8-10
20354 Hamburg
Germany
Phone: +49 (0)40 32 56 78-0
Fax: +49 (0)40 32 56 78-99
E-mail: [email protected]
Internet: www.lloydfonds.de
ISIN: DE000A12UP29
WKN: A12UP2
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart; Open Market (Entry Standard)
in Frankfurt
End of News DGAP News-Service
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341293 02.04.2015
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