DGAP-Ad-hoc: 3W Power S.A. / AEG Power Solutions / Key word(s): AGM/EGM/Delisting
3W Power S.A. / AEG Power Solutions: Ad-hoc 3W Power / AEG Power Solutions:
09-May-2018 / 13:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
- Shareholders approve restructuring plan
- Delisting of shares (LU1072910919)
Luxembourg / Zwanenburg, Netherlands - 9. Mai 2018. 3W Power S.A. (ISIN LU1072910919, 3W9K), the holding company of AEG Power Solutions Group, announced today that today's second extraordinary general meeting of the shareholders of 3W Power S.A. (the "EGM") was quorate and approved the company's restructuring plan with a majority of around 95 %.
As integral part of the company's restructuring plan, the EGM has resolved today on the reduction of the existing share capital in the amount of EUR 837,037.03 (divided into 83,703,703 shares) to EUR 0. The reduction to EUR 0 has become effective immediately without further actions or formalities to be taken with the consequence that the 83,703,703 shares were cancelled and therefore do not exist anymore. As a result, a delisting has occurred ipso iure and the shares' admission to trading in the regulated market at the Frankfurt Stock Exchange (LU1072910919) as well as all secondary listings at other Stock Exchanges (including Berlin, Stuttgart, Dusseldorf, Munich and Hamburg) will be stopped promptly. It is not intended that new shares in the company will be listed on any market (whether regulated, open or other).
With the EGM's approval the company has obtained the last outstanding formal approval for the implementation of its restructuring plan. The final implementation steps, including in particular the option exercise period followed by a cash increase from EUR 400,000 to up to EUR 7,970,787 (secured by full back-stop undertaking from institutional investors) as well as the prepayment of the reduced principal amount of the company's two corporate bonds, shall follow in due course and the board of directors assumes that closing shall take place end of June to mid-July 2018.
-- End of Announcement -
About 3W Power:
3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K). AEG Power Solutions is a leading provider of UPS systems and power electronic solutions for industrial, commercial, renewable and distributed energy markets throughout the world with main sites in France, Spain, Germany, Singapore and China, with further direct 14 sales and service offices worldwide.
For more information, visit www.aegps.com
This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power.
3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.
Investor Relations contact:
Christian Hillermann
Hillermann Consulting
Phone: +49 40 320 279 10
Email: investors@aegps.com
09-May-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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3W POWER SA 