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Pelikan announces “squeeze out” terms

August 25, 2017

Pelikan International Corporation Berhad determined a cash compensation for shares in Pelikan Aktiengesellschaft at €1.11 ($1.2) per share.

Pelikan International Corporation Berhad (PICB) confirmed and specified to the management board of Pelikan AG its formal request transfer the shares held by the remaining shareholders (minority shareholders) of Pelikan AG to PICB as majority shareholder in return for “an adequate” cash compensation (squeeze-out).

PICB is the current majority shareholder of Pelikan AG with 98.62 percent while the minority shareholders hold 1.38 percent.

PICB announced it has determined the cash compensation for the transfer of the shares held by the minority shareholders of Pelikan Aktiengesellschaft to PICB at €1.11 ($1.2)  for each no-par value bearer share of Pelikan AG.

The approval is expected to be voted for at the general shareholders’ meeting of Pelikan AG which is scheduled for 6 October 2017.

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