DGAP-Adhoc: Signature of Letter of Intent Regarding Initial Partial Sale of Voltabox Share Block and Awarding of Call Options

2020. december 10., csütörtök, 14:37





DGAP-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Letter of Intent/Disposal


Signature of Letter of Intent Regarding Initial Partial Sale of Voltabox Share Block and Awarding of Call Options


10-Dec-2020 / 14:37 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Signature of Letter of Intent Regarding Initial Partial Sale of Voltabox Share Block and Awarding of Call Options



Delbrück, Germany, December 10, 2020 - Today, paragon GmbH & Co. KGaA [ISIN DE0005558696] signed a letter of intent with Swiss investors regarding the conclusion of a purchase agreement for an initial block of shares amounting to 18% of the share capital of subsidiary Voltabox AG. Subject to the completion of an in-depth due diligence review, a purchase agreement for the partial block will be concluded by the end of January. The letter of intent also provides that, in addition to the sale of the block of shares, various call options will be granted to allow investors to gradually increase their stake in Voltabox AG to 29.9% and ultimately to around 50%.



paragon would remain a Voltabox shareholder until the call options are exercised in order to participate in the expected recovery in value of the financial investment. However, long-term involvement with Voltabox AG is not planned.



In the meantime, paragon took advantage of the favorable market development to reduce its stake in Voltabox to currently around 54.5 % through over-the-counter reallocations. With the planned investor participation, paragon"s stake in Voltabox AG would decrease to a level that will lead to termination of the full consolidation of Voltabox AG in the consolidated financial statements of paragon GmbH & Co. KGaA.





About paragon GmbH & Co. KGaA


paragon GmbH & Co. KGaA (ISIN DE0005558696), which is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange, develops, produces and distributes forward-looking solutions in the field of automotive electronics, body kinematics and e-mobility. As a market-leading direct supplier to the automotive industry, the company"s portfolio includes the Electronics operating segment"s innovative air-quality management, state-of-the-art display systems and connectivity solutions, and high-end acoustic systems. In the Mechanics operating segment, paragon develops and produces active mobile aerodynamic systems. In addition, the Group holds a stake in Voltabox AG (ISIN DE000A2E4LE9), a subsidiary that is also listed on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., which is active in the rapidly growing electromobility segment with cutting-edge lithium-ion battery systems developed inhouse.



In addition to the company headquarters in Delbrück (North Rhine-Westphalia, Germany), paragon GmbH & Co. KGaA and its subsidiaries operate sites in Suhl (Thuringia, Germany), Landsberg am Lech and Neu-Ulm (Bavaria, Germany), Markgröningen and St. Georgen (Baden-Württemberg, Germany), Limbach (Saarland, Germany), Aachen (North Rhine-Westphalia, Germany) as well as in Kunshan (China), Oroslavje (Croatia) and Austin (Texas, USA).



Additional information about paragon can be found at www.paragon.ag.



 



Capital Market & Press Contact

paragon GmbH & Co. KGaA



Stefan Westemeyer

Artegastrasse 1

33129 Delbrück, Germany

Phone: +49 (0) 52 50 - 97 62-141

Fax: +49 (0) 52 50 - 97 62-63

Email: investor@paragon.ag











10-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: paragon GmbH & Co. KGaA

Artegastraße 1

33129 Delbrück

Germany
Phone: +49 (0)5250 97 62 - 0
Fax: +49 (0)5250 97 62 - 60
E-mail: investor@paragon.ag
Internet: www.paragon.ag
ISIN: DE0005558696, DE000A2GSB86,
WKN: 555869, A2GSB8,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1154297





 
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