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- CANCOM now holds over 95 percent of the shares in Pironet AG.
- Request for the transfer of the shares of the minority shareholders submitted to Pironet AG pursuant to § 327a para. 1 AktG (German Stock Corporation Act).
- Extraordinary General Meeting shall resolve the transfer of the shares of the minority shareholders against payment of an appropriate cash compensation.
- The transfer of minority shares is a precursor to simplified structures within the Group, which are intended in particular to benefit the Cloud and Managed Services business.
Munich, Germany, 22 August 2018 - Through the acquisition of a block of shares, CANCOM SE is now in possession of around 95.1 percent of the shares of Pironet AG. CANCOM SE acquired a majority stake in Pironet AG in 2013 and since then the company has been fully integrated operationally into the activities of the entire CANCOM Group. Exceeding the 95 percent threshold now creates the possibility of transferring the remaining minority shares onto CANCOM. Owning 100 percent of the shares of Pironet AG would support the further simplification of group structures and final integration, especially in the Cloud and Managed Services business area, which is so important for CANCOM.
With the acquisition of another block of shares, CANCOM SE is now the main shareholder of Pironet AG within the meaning of § 327a para. 1 sentence 1 AktG (German Stock Corporation Act). CANCOM SE has therefore also submitted a request to the Management Board of Pironet AG pursuant to § 327a para. 1 sentence 1 AktG that the Annual General Meeting of Pironet AG resolve to transfer the shares of the other minority shareholders of Pironet AG onto CANCOM SE against payment of an appropriate cash compensation. At CANCOM SE's request, the resolution is to be adopted at an extraordinary general meeting. The exact amount of the cash compensation for the minority shareholders has not yet been determined and will be determined in the course of the proceedings at a later date. CANCOM aims to complete the process by spring 2019 at the latest. The corresponding severance payments will also be made at this time. As an indication, CANCOM SE expects total costs for the settlement and the proceedings in the next year to be in the mid single-digit million euro range.
As Digital Transformation Partner, CANCOM guides businesses into the digital future. The CANCOM Group's business-oriented IT solution range encompasses consulting, implementation and services. Clients benefit from extensive expertise and an innovative portfolio that covers business IT requirements for a successful digital transformation. IT trends such as cloud computing, analytics, enterprise mobility or security are addressed with smart business solutions and services. The CANCOM Group operates internationally and has more than 3,000 employees worldwide. Together with a powerful partner network, many geographies enjoy market presence allowing close client proximity including Germany, Austria, Switzerland, Belgium, the United Kingdom and the United States. CANCOM Group is headed by Klaus Weinmann (Founder and CEO), Rudolf Hotter (COO), Thomas Volk (President and General Manager) and Thomas Stark (CFO). The company's headquarter is in Munich, Germany. CANCOM SE is listed on the Frankfurt Stock Exchange in the index TecDAX (ISIN DE0005419105) and the group achieves an annual turnover of more than one billion euros.
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