- Registrations required in the commercial register already completed
- Number of shares set to triple
- Ownership proportions to remain unchanged
Baden-Baden, June 30, 2017: GRENKE AG will execute the capital increase from company funds and subsequent stock split resolved by the Annual General Meeting on May 11, 2017. Trading in the new shares on the regulated market of the Frankfurt Stock Exchange (Prime Standard) will commence on July 10, 2017.
When the transaction settles, all of Company’s existing shareholders will have received two additional no-par value registered shares for every single share held, which will result in a three-fold increase in the total number of shares held. GRENKE AG’s share capital amounts to EUR 44,313,102 divided into 44,313,102 no-par value registered ordinary shares with a notional interest in the share capital of EUR 1.00 per share. The ownership proportions will remain unchanged following the capital increase and the re-division of share capital.
After the completion of the stock split, there will be a corresponding two-thirds reduction in the price of GRENKE shares. All shares will be fully entitled to a dividend for the current 2017 fiscal year.
The conversion will be executed automatically by the custodian banks. All of the stock-related characteristics (ISIN, WKN, ticker symbol) will remain unchanged.
The Board of Directors