Currently, primion Technology AG shares are traded on the Regulated market of the Frankfurt Stock Exchange (General Standard). The Board will file the application for the revocation of the listing shortly with the Frankfurt Stock Exchange. The Directors of the Frankfurt Stock Exchange will then rule on the application for the revocation of the listing.
The Board anticipates that the application will be approved, with a waiting period of six months and that the delisting will then become effective after that time. This gives the minority shareholders sufficient time to dispose of their shares in the Regulated market of the Frankfurt Stock Exchange. The Board assumes that after the waiting time has elapsed, the company's shares will no longer be traded on the Frankfurt Stock Exchange or any other Stock exchange.
The reason that the Board gives for making this decision is that the costs connected with the stock market listing are no longer justified in relation to the benefits accrued by the company. A wide range of statutory capital market costs will no longer apply following delisting, so that the Board estimates the company will make five-digit sum savings following withdrawal from the market. In addition, the company finances itself principally through banks and the major Spanish shareholder Azkoyen S.A. so the loss of financing options through the capital market will not represent any significant disadvantage. A further point is that the major shareholder now holds over 90% of the primion shares so there are only low trading levels of primion shares. Taking these conditions into account, the stock market listing of the primion shares no longer makes financial sense, in the opinion of the Board.
In conclusion, the Board explains that nothing will change for the company's business partners as a result of the delisting.
primion Technology AG
D-72510 Stetten am kalten Markt
Phone: +49.75 73 9 52-0
Fax: +49.75 73 9 20-34
You can reach our head office switchboard on workdays:
From 8:00 am to 12:00 pm and
from 1:00 pm to 4:30 pm