euro adhoc: Klöckner & Co AG
other
Ad hoc announcement pursuant to Sec. 15
WpHG (German Securities Trading Act), dated September 20, 2007
Klöckner & Co AG plans to transform into a European Company (SE)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
20.09.2007
Duisburg, September 20, 2007 - The Supervisory Board and the Board of Management of Klöckner & Co AG have resolved to propose a transformation from an Aktiengesellschaft (AG - German stock corporation) into a European public limited-liability company (SE - Societas Europaea) at the Company´s Annual General Meeting next year.
The intended legal form reflects the international position and orientation of the Klöckner & Co Group: Klöckner & Co is represented in 15 countries with over 250 locations and generated roughly 75% of its sales outside of Germany in the first half of 2007. Including Germany, approximately 85% of the total sales was generated in Europe. The primary objective of the transformation into an SE is to evolve the historically grown, country-oriented organization into a European organization, and thus better and more efficiently utilize the possibilities of the common market than has been done up till now.
The Company´s headquarters will remain in Duisburg, Germany. Besides, no further changes within the group are associated with the transformation. The two-tier model of a supervisory board and a board of management shall be continued. Preparations for the formation of a special negotiating body - responsible for the negotiations concerning the future involvement of employees in the SE - have begun. The objective is to conclude the negotiations before the next Annual General Meeting.
Issuer: Klöckner & Co Aktiengesellschaft, Am Silberpalais 1, D 47057 Duisburg ISIN: DE000KC01000; WKN: KCO0100 Listed: Amtlicher Markt / Prime Standard; Frankfurter Wertpapierbörse Further information can be obtained on the webpage of Klöckner & Co: www.kloeckner.de
end of announcement euro adhoc 20.09.2007 12:32:24
Further inquiry note:
Helmut Geisen
Telefon: +49(0)203-307-2007
E-Mail: helmut.geisen@kloeckner.de
Branche: Metal Goods & Engineering
ISIN: DE000KC01000
WKN: KC0100
Index: CDAX, Classic All Share, Prime All Share, MDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade