03.09.2018 19:56:08
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DGAP-Adhoc: KWS SAAT SE: KWS plans a change in legal form and a stock split
DGAP-Ad-hoc: KWS SAAT SE / Key word(s): Corporate Action/Strategic Company Decision KWS plans a change in legal form and a stock split Einbeck, September 3, 2018. The Supervisory Board and Executive Board of KWS SAAT SE decided today to prepare a change in legal form to a partnership limited by shares (KGaA) and a stock split at a ratio of 1:5. As part of the change in legal form, KWS SAAT SE would be converted into an SE & Co. KGaA. The aim of the change in form is to sustainably further the company's continuing growth strategy. As a KGaA, KWS will be able to leverage future growth opportunities with greater agility and flexibility and raise the equity required for that without losing the company's character as a listed family business. As part of the change in legal form, the newly formed KWS SE will join the company as general partner. It will be majority owned by investment companies of the shareholder families C.-E. Büchting and Arend Oetker. Its Executive Board will be identical to the current Executive Board of KWS SAAT SE. The change of legal form will not result in liquidation of the company or formation of a new legal entity. The company's legal and economic identity will be retained. In order to increase the share's fungibility, a stock split at a ratio of 1:5 is being prepared. Concurrently, there is to be a capital increase from company funds, i.e. reserves will be converted into capital stock. The stock split will not result in any changes to the stakes held. The shareholders do not need to make any additional cash payments. Executive Board and Supervisory Board are still to decide on the agenda of the forthcoming Annual Shareholders' Meeting on December 14, 2018. The Executive Board Contact: Notifying person: Wolf-Gebhard von der Wense Head of Investor Relations Phone: +49-5561-311-968 Mobile: +49-151-18855673 wolf-gebhard.vonderwense@kws.com KWS SAAT SE www.kws.de
03-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | KWS SAAT SE |
Grimsehlstraße 31 | |
37555 Einbeck | |
Germany | |
Phone: | +49 (0)5561 311-0 |
Fax: | +49 (0)5561 311-322 |
E-mail: | info@kws.com |
Internet: | www.kws.de |
ISIN: | DE0007074007 |
WKN: | 707400 |
Indices: | S-DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |
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720239 03-Sep-2018 CET/CEST
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