DGAP-Ad-hoc: paragon AG Planning Conversion Into Partnership Limited by Shares (KGaA)
paragon AG / Key word(s): Miscellaneous
paragon AG Planning Conversion Into Partnership Limited by Shares (KGaA)
Delbrück, Germany, March 26, 2018 - Today, the Management Board and Supervisory Board of paragon AG (ISIN DE0005558696) unanimously resolved to propose a change of the company's legal form to a partnership limited by shares (KGaA) at the company's Annual General Meeting on May 8, 2018.
The conversion of the company into a KGaA is intended to ensure the continuation of the company's long-term growth strategy and combine the possibilities of a capital market-oriented company with the advantages of a family business. The conversion of legal form will probably lead to an increased willingness of the founder and majority shareholder Mr. Klaus Dieter Frers to support future capital measures, even if Mr. Klaus Dieter Frers cannot or does not want to participate in full. At the same time, the conversion of legal form will ensure that Mr. Klaus Dieter Frers, along with his entrepreneurial spirit, will remain a long-term investor in the company. Mr. Klaus Dieter Frers has informed the company that he will support the proposal and intends to remain a long-term shareholder of the company.
As part of the conversion of legal form, the future paragon GmbH will join the company as a general partner and will represent the company through its management. As one of the managing directors of paragon GmbH and through his stake in paragon GmbH, Mr. Klaus Dieter Frers will continue to have a significant influence on the company.
This publication constitutes neither an offer to sell nor a solicitation of an offer to purchase nor an invitation to subscribe to securities. A public offer of shares in the company or other securities will not take place and is not planned.
This document contains forward-looking statements. Forward-looking statements are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, developments and achievements of the company to differ materially from those expressed or implied. No undue reliance should be placed on forward-looking statements. The company will not update or revise these forward-looking statements based on new information, future events or any other reason.
Additional information about paragon AG can be found at www.paragon.ag/en/investors.
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