EANS-Adhoc: CHRIST WATER TECHNOLOGY AG
Remaining minority shareholders to
receive Euro 2.10 per share
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
25.06.2010
As previously made public on 23 February 2010, Eimco Water
Technologies GmbH ("Eimco"), an indirect subsidiary of GLV Inc.
("GLV"; Ticker Symbols GLV.A, GLV.B / TSX), as principal shareholder
of CHRIST WATER TECHNOLOGY AG ("CWT") has requested pursuant to the
Gesellschafter-Ausschlussgesetz that the 9th Annual General Meeting
of CWT approve the transfer to Eimco as principal shareholder of all
shares held by the remaining shareholders. Eimco currently owns
92.60% of the shares of CWT.The Management Board of CWT and Eimco as principal shareholder of CWT have now jointly fixed the appropriate compensation at Euro 2.10 per CWT share. The Board of Directors and the management of Eimco have today issued a joint report pursuant to the requirements of § 3 (1) of the Gesellschafter-Ausschlussgesetz.
The appropriateness of this compensation remains to be reviewed by the Supervisory Board of CWT. A decision regarding the squeeze-out of the minority shareholders will need to be taken at the 9th Annual General Meeting. This Annual General Meeting will likely be held in July 2010.
The affected minority shareholders of CWT will receive the relevant compensation for their shares in accordance with the applicable statutory rules after registration of the squeeze-out with the companies register.
end of announcement euro adhoc
Further inquiry note:
Christ Water Technology AG
Mag. Harald Wegscheider
harald.wegscheider@christwater.com
Tel.: 06232/9011-1002
Branche: Biotechnology
ISIN: AT0000499157
WKN: 675399
Index: WBI, Standard Market Continous
Börsen: Wien / official market