Kontron AG: Annual General Shareholder Meeting approves merger with a large majority
Augsburg, June 20, 2017 - Kontron, a leading global provider of Embedded Computing Technology (ECT), has received, approval from a large majority of its shareholders for the merger agreement with S&T Deutschland Holding AG at its Annual General Shareholder Meeting (AGM) in Bobingen yesterday, with around 86% of the represented capital agreeing with the plan.
Hannes Niederhauser, CEO of Kontron AG, summarizes: "I am very pleased that we were able to win a clear majority for our merger plans. This shows that we were able to convince our shareholders of the advantages of the merger. This is also good news for our customers, who will fully benefit from our joint portfolio of integrated solutions in the areas of embedded, IoT and Industry 4.0 in the future."
The merger of Kontron AG with S&T Deutschland Holding AG, a wholly-owned subsidiary of S&T AG, where all embedded know-how will be consolidated, will significantly improve the position of the future company group in the market for embedded modules, boards and systems as well as Internet of Things. Through the software competence of the S&T Group, Kontron is now able to expand its product portfolio with software products and services, and will thereby strengthen its technological leadership role.
"We don't have to be conservative about our joint outlook any longer," says Hannes Niederhauser, CEO of Kontron AG further. "Together, Kontron and S&T can and will become technology and industry leaders. The goal is to break the one billion Euro mark in revenues in 2018 and move into fast lane."
Together, the two companies plan to develop their full potential in the embedded and Industry 4.0 markets under the Kontron brand. The target is to achieve sales between EUR 860 and 890 million and an EBITDA of EUR 50 million for the 2017 financial year.
At the AGM of Kontron AG 63.99% of the share capital was represented at the time of the vote. The AGM approved all management proposals by a large majority.
The merger was also resolved at the AGM of S&T Deutschland Holding AG, which was held today. Due to these votes of approval at both companies, the application for entry of the merger is now to be made at the respective courts of registry.
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About Kontron Kontron, a global leader in embedded computing technology and a pioneer in secure IoT platform solutions, provides a combined portfolio of hardware, middleware and services. With its leading-edge standard products and solution ready platforms, Kontron enables new technologies and applications across multiple industries. As a result, customers benefit from accelerated time-to-market, reduced total cost of ownership, product longevity and the best overall application with the highest reliability in embedded technology. Kontron is a listed company. Its shares are traded in the Prime Standard segment of the Frankfurt Stock Exchange and on other exchanges under the symbol "KBC". For more information, please visit: www.kontron.com
For additional information: Alexandra Habekost Head of Investor Relations & Corporate Communications Kontron Tel: +49 (0) 821 firstname.lastname@example.org
20.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: Kontron AG Lise-Meitner-Straße 3-5 86156 Augsburg
Germany Phone: 00498214086114 Fax: 00498214086122 E-mail: Alexandra.Habekost@kontron.com Internet: www.kontron.com ISIN: DE0006053952 WKN: 605395 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service