Applied Biosystems Deutschland GmbH holds 95% of GENEART Shares
The majority shareholder of GENEART AG, Regensburg, Applied Biosystems Deutschland GmbH, Darmstadt ("ABD"), directly holds more than 95% of all shares in GENEART AG as noticed by ABD. ABD informed the management board of GENEART AG about this fact by letter dated August/3/2010.
By virtue of this letter ABD also requested that the general meeting of GENEART AG may resolve upon the transfer of shares of the minority shareholders to ABD against payment of an adequate cash consideration (Section 327a para. 1 sentence 1 German Stock Corporation Act, Aktiengesetz, "AktG", so-called Squeeze-Out).
The management board of GENEART AG intends to comply with this request and to convene an extraordinary general meeting. This meeting will presumably take place at a time in the last quarter of 2010.
GENEART and ABD still intend to conclude a domination agreement (Section 291 et seq. AktG) with GENEART AG as dominated and ABD as dominating entity. The domination agreement shall be submitted for approval to this extraordinary general meeting.
Other news from the department business & finance
