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[November 2009]
Eczacibasi Wants ESM at Burgbad AG – Cash Compensation for Shares Proposal
Eczacibasi Yapi Gerecleri San ve Tic AS (Istanbul, Turkey) has informed Burgbad AG (Bad Fredeburg, Schmallenberg, Germany) pursuant to §327a (1) of the German Stock Corporation Act (AktG) of its demand for an extraordinary shareholders’ meeting of Burgbad AG to be convened to adopt a resolution for the shares held by other shareholders in the company (minority shareholders) to be transferred to Eczacibasi Yapi Gerecleri San ve Tic AS in return for suitable cash compensation (squeeze out).
Eczacibasi informed the company that it directly held a 95.01684 percent shareholding in Burgbad AG, the bathroom element designer and manufacturer. It is thus the principal shareholder pursuant to §327a (1) of the German Stock Corporation Act (AktG).
Burgbad said it would convene an extraordinary shareholders' meeting and place the resolution requested on the agenda.
ENDS