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Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Approved At MAN Annual General Meeting - Dr. h.c. Leif Östling confirmed as member of the Supervisory Board of MAN SE - MANTruckAndBus.com
Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Approved At MAN Annual General Meeting

 

NewswireToday - /newswire/ - Munich, Germany, 2013/06/06 - Dr. h.c. Leif Östling confirmed as member of the Supervisory Board of MAN SE - MANTruckAndBus.com.

   
 
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On Thursday, 6 June 2013, the domination and profit and loss agreement between MAN SE, Munich, and Truck & Bus GmbH, Wolfsburg a wholly-owned subsidiary of Volkswagen AG was approved at the Annual General Meeting of MAN SE. It was approved by 112,665, 822 affirmative votes, which is equivalent to 98.47%. The agreement will take effect following entry in the MAN SE commercial register. MAN SE shareholders will subsequently have a choice between compensation and a buy-out.

Those shareholders choosing a buy-out, will transfer their MAN shares to Truck & Bus GmbH (mantruckandbus.com) and receive a one-off payment in the amount of € 80.89 per share. This cash settlement will be processed free of charge for shareholders and transacted via Bankhaus Metzler, Frankfurt am Main, as the central settlement agent.

Those shareholders who do not accept the offer of a cash settlement will remain shareholders in MAN SE and receive an annual compensation payment or guaranteed net dividend of € 3.07 per share.

During the MAN SE Annual General Meeting, Dr. h.c. Leif Östling, member of the Executive Board at Volkswagen AG, was confirmed as member of the Supervisory Board of MAN SE, Professor Dr. Jochem Heizmann having resigned from the Supervisory Board of MAN SE with effect from 12 October 2012. By way of a court order issued on 18 October 2012, the Local Court of Munich subsequently appointed Dr. Östling to the Supervisory Board of MAN SE with immediate effect to act as an additional member in his capacity as shareholder representative. This court appointment as an additional member has now been superseded by his election. Professor Dr. rer. pol. Horst Neumann, member of the Executive Board at Volkswagen AG, was elected as alternate member for Dr. Östling at the Annual General Meeting.

 
 
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Written by / Agency / Source: MAN Group

 
 

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Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Approved At MAN Annual General Meeting

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MAN Truck & Bus | MAN
Publisher Contact: Press Office - Truck & Bus GmbH 
+49 89 36098-111 presse[.]man.eu
 
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