New large shareholder puts his trust in paragon
04/28/2008
DGAP-News: New large shareholder puts his trust in paragon
paragon AG / Miscellaneous
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New large shareholder puts his trust in paragon
· Baden-Württembergische Versorgungsanstalt für Ärzte, Zahnärzte und
Tierärzte increases share in voting rights to 9.86%
· Largest shareholder after company founder Klaus Dieter Frers
· Absolute Capital, a fund formerly managed by Florian Homm, sold its
shares in paragon
Delbrück, 28 April 2008 - paragon AG welcomes a new large shareholder with
a track record in long-term investments. The Baden-Württembergische
Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte, a retirement fund
for doctors, dentists and veterinarians, which already has held paragon
shares in the recent past, has increased its share in paragon to 405,800
voting rights, or 9.86% of all voting rights.
'We are very pleased to see that Versorgungsanstalt has significantly
increased their holding in paragon. This long-term investment is a clear
signal for the capital market,' commented CEO Klaus Dieter Frers.
'Versorgungsanstalt puts their trust in the strategy, performance and
future potential of our company.' Versorgungsanstalt is now the second
largest shareholder, after paragon founder and CEO Frers, who continues to
hold approximately 52%.
The investor acquired the shares in a private transaction from Absolute
Capital. The fund, previously managed by Florian Homm, had held the shares
since May 2007. 'We are glad to have found a solid and strong partner for
the future of paragon in Versorgungsanstalt,' said Frers.
About paragon
paragon AG is a direct supplier to the automotive industry and is listed on
the Deutsche Börse Prime Standard index in Frankfurt/Main, Germany. The
Company develops, manufactures, and markets innovative solutions in its
Automotive (Car Media Systems/Climate Systems/Instrumentation and Control
Systems), Electronic Solutions, and Building Technology divisions. Its
product portfolio includes the world’s leading AQS air quality sensor by
far as well as hands-free speaking equipment and instrumentation systems.
In addition to its headquarters in Delbrück, North Rhine-Westphalia,
paragon also operates locations in Suhl, Thuringia (production),
Cadolzburg, Bavaria (car media systems), St. Georgen, Baden-Württemberg
(instrumentation systems) and Heidenheim, Baden-Württemberg (Electronic
Solutions sales). In the international arena, the paragon Group is
represented by wholly-owned subsidiaries in Grand Rapids, Michigan, USA
(development, production, and sales) and Osaka, Japan (applications and
sales) as well as sales offices in Paris, France and Turin, Italy. In
fiscal 2007, the paragon Group generated sales totaling €108.9 million with
a workforce of 594 employees.
paragon AG
Schwalbenweg 29
33129 Delbrück
Phone: +49 (0) 52 50 - 97 62-0
Fax: +49 (0) 52 50 - 97 62-60
Internet: www.paragon-online.de
E-mail: info@paragon-online.de
Head of Corporate Communications
Matthias Hack
Phone: +49 (0) 52 50 - 97 62-141
Fax: +49 (0) 52 50 - 97 62-60
E-mail: matthias.hack@paragon-online.de
Investor Relations
Haubrok Investor Relations GmbH
Thomas Vormann
Phone: +49 (0) 2 11 - 3 01 26-0
Fax: +49 (0) 2 11 - 3 01 26-172
E-Mail: t.vormann@haubrok.de
28.04.2008 Financial News transmitted by DGAP
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Language: English
Issuer: paragon AG
Schwalbenweg 29
33129 Delbrück
Deutschland
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon-online.de
Internet: www.paragon-online.de
ISIN: DE0005558696
WKN: 555869
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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