Ströer SE & Co. KGaA: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
Aug 19, 2019 8:51 PM
Ströer SE & Co. KGaA
Ströer SE & Co. KGaA received the following notification pursuant to Sec. 43 (1) WpHG from Deutsche Telekom AG, Bonn, Germany, on August 14, 2019:
By allocation and transfer agreement dated 14 August 2019, Deutsche Telekom AG transferred legal ownership of its Ströer SE & Co. KGaA shares with immediate effect to Deutsche Telekom Trust e.V. Deutsche Telekom Trust e.V., the trust fund of the Deutsche Telekom group, holds trust assets for the purpose of fulfilling company retirement obligations. Legal ownership of the Ströer SE & Co. KGaA shares was transferred so that they could be held as trust assets by Deutsche Telekom Trust e.V. for the account of Deutsche Telekom AG.
Deutsche Telekom AG has reserved the right to issue instructions in relation to all administrative rights under company law (in particular the exercise of voting rights at shareholder meetings of Ströer SE & Co. KGaA) and in relation to the sale of the above shares. Since they serve as collateral, all risks and rewards relating to changes in value of the above shares are retained by Deutsche Telekom AG. Deutsche Telekom AG thus retains beneficial ownership of the above shares.
Further to the voting rights notification pursuant to Sec. 21 (1) WpHG ['Wertpapierhandelsgesetz': German Securities Trading Act] (unrevised) dated 2 November 2015 and the notification pursuant to Sec. 27a (1) Sentence 1, Sentence 3 and Sentence 4 WpHG (unrevised) dated 4 November 2015, Deutsche Telekom AG, Bonn, Germany, as the party subject to the notification requirement pursuant to Sec. 43 (1) WpHG hereby states that:
1. The investment held by Deutsche Telekom AG continues to constitute a long-term investment with the aim of generating trading profit.
2. Deutsche Telekom AG does not intend to obtain further voting rights in Ströer SE & Co. KGaA within the next 12 months by acquisition or other means.
3. Deutsche Telekom is represented on the supervisory board of Ströer SE & Co. KGaA and on the supervisory board of Ströer Management SE, the general partner of Ströer SE & Co. KGaA. Deutsche Telekom AG does not otherwise intend to influence the composition of the issuer's administrative, management or supervisory bodies.
4. Deutsche Telekom AG does not intend to significantly change the capital structure of Ströer SE & Co. KGaA, especially with regard to the ratio of internal/external financing and the dividend policy.
With regard to the origin of the funds, the voting rights acquired in 2015 result from new shares issued by the legal predecessor of Ströer SE & Co. KGaA, namely Ströer SE that Deutsche Telekom AG acquired as part of a capital increase in return for a non-cash contribution as consideration for the transfer of all the shares in Digital Media Products GmbH.
|Company:||Ströer SE & Co. KGaA|
|Ströer Allee 1|
|End of News||DGAP News Service|