Date Announced: 04 Nov 2020
Munich, Germany -- With 99.77 percent of the voting rights represented, the Osram general meeting today approved a domination and profit and loss transfer agreement with ams. The required quorum of at least 75 percent was therefore reached.
“This will enable Osram and ams together to forge the European global market leader in optical solutions,” said Osram’s CEO Olaf Berlien. Shareholders also confirmed the new appointments to the Supervisory Board, namely Hans-Peter Metzler, Thomas Stockmeier and Johann Eitner.
Legal implementation of the domination and profit and loss transfer agreement is expected around the turn of the year. The agreement with majority shareholder ams must first be entered in the Munich commercial register.
Before the extraordinary general meeting, ams held around 70 percent of the outstanding shares in Osram. The operational starting date for the combined company is expected to be in early 2021.
Osram and ams will then be able to leverage synergies and promote new innovations and technologies together in a profitable company. ams is offering the remaining minority shareholders a compensation payment of 45.54 euros per share or a guaranteed annual payment of about five percent of the compensation amount (2.24 euros net / 2.57 euros gross).
OSRAM, based in Munich, Germany, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities.
The company uses the endless possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better.
OSRAM had approximately 23,500 employees worldwide as of end of fiscal 2019 (September 30) and generated revenue of around 3.5 billion euros from continuing activities. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR).
Web Site: www.osram.com