Baden-Baden, March 14, 2017: The Supervisory Board and Board of Directors of GRENKE AG (ISIN DE000A161N30) will propose an increase in the share capital from company funds to the Annual General Meeting to be held on May 11, 2017, in order to execute a 1:3 stock split.
GRENKE’s share price has risen continuously in recent years. The aim of the increase in GRENKE AG’s share capital from company funds proposed to the Annual General Meeting and the 1:3 stock split is to increase the trading volume in GRENKE shares making the shares even more attractive to investors.
GRENKE AG’s share capital currently amounts to EUR 18,880,774.47 and is divided into 14,771,034 no-par value registered shares with a notional interest in the share capital of EUR 1.28 (rounded). Following the execution of the capital increase from company funds of EUR 25,432,327.53, without the issuance of new shares, the share capital will then amount to EUR 44,313,102.00. Following the registration of the capital increase in the commercial register and as a result of the planned 1:3 stock split, one no-par value share with an increased notional interest in the share capital of EUR 3.00 per share will be replaced by three shares each with a notional interest in the share capital of EUR 1.00. The Company’s shareholder structure is not affected by the capital increase from company funds nor the stock split. The capital increase from company funds also does not affect the Company’s equity on the balance sheet because the transaction only results in a reclassification within equity.
The agenda for the Annual General Meeting, which was resolved by the Supervisory Board and previously by the Board of Directors, is expected to be published in the Federal Gazette on March 27, 2017. The corresponding provisions of the Articles of Association will be amended with regard to the planned stock split.
The Board of Directors