22.08.2018
CANCOM SE DE0005419105
DGAP-News: CANCOM: Exceeding the 95 percent share threshold at Pironet AG creates the basis for simplified group structures in the Cloud and Managed Services business area
DGAP-News: CANCOM SE / Key word(s): Squeeze Out
CANCOM: Exceeding the 95 percent share threshold at Pironet AG creates the
basis for simplified group structures in the Cloud and Managed Services
business area
22.08.2018 / 13:49
The issuer is solely responsible for the content of this announcement.
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CANCOM: Exceeding the 95 percent share threshold at Pironet AG creates the
basis for simplified group structures in the Cloud and Managed Services
business area
- CANCOM now holds over 95 percent of the shares in Pironet AG.
- Request for the transfer of the shares of the minority shareholders
submitted to Pironet AG pursuant to § 327a para. 1 AktG (German Stock
Corporation Act).
- Extraordinary General Meeting shall resolve the transfer of the shares of
the minority shareholders against payment of an appropriate cash
compensation.
- The transfer of minority shares is a precursor to simplified structures
within the Group, which are intended in particular to benefit the Cloud and
Managed Services business.
Munich, Germany, 22 August 2018 - Through the acquisition of a block of
shares, CANCOM SE is now in possession of around 95.1 percent of the shares
of Pironet AG. CANCOM SE acquired a majority stake in Pironet AG in 2013 and
since then the company has been fully integrated operationally into the
activities of the entire CANCOM Group. Exceeding the 95 percent threshold
now creates the possibility of transferring the remaining minority shares
onto CANCOM. Owning 100 percent of the shares of Pironet AG would support
the further simplification of group structures and final integration,
especially in the Cloud and Managed Services business area, which is so
important for CANCOM.
With the acquisition of another block of shares, CANCOM SE is now the main
shareholder of Pironet AG within the meaning of § 327a para. 1 sentence 1
AktG (German Stock Corporation Act). CANCOM SE has therefore also submitted
a request to the Management Board of Pironet AG pursuant to § 327a para. 1
sentence 1 AktG that the Annual General Meeting of Pironet AG resolve to
transfer the shares of the other minority shareholders of Pironet AG onto
CANCOM SE against payment of an appropriate cash compensation. At CANCOM
SE's request, the resolution is to be adopted at an extraordinary general
meeting. The exact amount of the cash compensation for the minority
shareholders has not yet been determined and will be determined in the
course of the proceedings at a later date. CANCOM aims to complete the
process by spring 2019 at the latest. The corresponding severance payments
will also be made at this time. As an indication, CANCOM SE expects total
costs for the settlement and the proceedings in the next year to be in the
mid single-digit million euro range.
About CANCOM
As Digital Transformation Partner, CANCOM guides businesses into the digital
future. The CANCOM Group's business-oriented IT solution range encompasses
consulting, implementation and services. Clients benefit from extensive
expertise and an innovative portfolio that covers business IT requirements
for a successful digital transformation. IT trends such as cloud computing,
analytics, enterprise mobility or security are addressed with smart business
solutions and services. The CANCOM Group operates internationally and has
more than 3,000 employees worldwide. Together with a powerful partner
network, many geographies enjoy market presence allowing close client
proximity including Germany, Austria, Switzerland, Belgium, the United
Kingdom and the United States. CANCOM Group is headed by Klaus Weinmann
(Founder and CEO), Rudolf Hotter (COO), Thomas Volk (President and General
Manager) and Thomas Stark (CFO). The company's headquarter is in Munich,
Germany. CANCOM SE is listed on the Frankfurt Stock Exchange in the index
TecDAX (ISIN DE0005419105) and the group achieves an annual turnover of more
than one billion euros.
Contact:
Sebastian Bucher
Manager Investor Relations
Phone: +49 89 54054 5193
Email: [email protected]
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22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: CANCOM SE
Erika-Mann-Straße 69
80636 Munich
Germany
Phone: +49-(0)89/54054-0
Fax: +49-(0)89/54054-5119
E-mail: [email protected]
Internet: http://www.cancom.de
ISIN: DE0005419105, DE0005419105
WKN: 541910, 541910
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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716465 22.08.2018
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