DGAP-Adhoc: Balda AG: Sale of the entire operating business, distributions of EUR 2.00 per share, approval of AGM required
23.09.2015
Balda AG / Key word(s): Disposal
23.09.2015 02:38
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
—————————————————————————
Bad Oeynhausen, 23 September 2015 – Today, Balda AG concluded a purchase
agreement concerning the sales of its entire operating business for a
purchase price of EUR 62.9 million. The buyers are acquiring companies
managed by the investment company Paragon, Munich. The sale comprises all
operational units of the Balda Group, i.e. Balda Medical GmbH & Co. KG, Bad
Oeynhausen, Balda C. Brewer, Inc. and Balda Precision, Inc., both in
California, USA, as well as Balda Medical Systems SRL, Romania and further
assets. The buyer will retain all employees of the operational units and
employees and members of the management of Balda AG. The Balda Group is to
be continued and further extended as operational unit in accordance with
today’s strategic orientation. All in all, the company receives a gross
amount (including profits to be paid out for the past business year) of EUR
approximately 66.7 million (before exemptions, taxes and costs).
The agreement is subject to the condition precedent of approval by the
annual general meeting of Balda AG as well as the approval by the
anti-trust authorities. The Management Board will shortly convene the
annual general meeting scheduled for 19 November 2015. Moreover, the
Management Board and the Supervisory Board intend to suggest a dividend
payment of EUR 1.10 per share. In addition, on approval of the purchase
agreement the Management Board and the Supervisory Board will propose to
reduce the share capital from currently EUR 58,890,636.00 to EUR
5,889,063.00 and return to the shareholders the share capital thus
released. This corresponds to an amount of another EUR 0.90 per current
share.
In this context, the annual general meeting will also adopt a decision
concerning a change of the business purpose of the company and the company
name.
contact / contact person
Michael Pfister
Deekeling Arndt Advisors
Tel: +49 (0) 5734 922 2555
Mobil: +49 (0) 160 90560506
Mail: michael.pfister@deekeling-arndt.de
About Balda
Balda (ISIN: DE0005215107) is a provider of high-end plastics solutions
that rely on quality in sophisticated fields of application in the
healthcare, lifestyle, automotive and consumer electronics industry. Balda
operates in Europe and Northern America and has state of the art production
sites at the Oeynhausen headquarters in Germany and in the US. The
company’s success with its about 780 staff worldwide is based on the use of
modern, cost-efficient technologies and the close cooperation with our
customers in a spirit of trust.
www.balda-group.com
23.09.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
—————————————————————————
Language: English
Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Germany
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
E-mail: ir@balda-group.com
Internet: www.balda-group.com
ISIN: DE0005215107
WKN: 521510
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of Announcement DGAP News-Service
—————————————————————————