German company Analytik Jena AG aims to withdraw from the regulated market of the Frankfurt Stock Exchange. The company’s Supervisory Board agreed to a resolution on the matter drafted by the Executive Board. At the same time, majority shareholder Endress+Hauser announced it will exercise its option to acquire additional shares on 1 October 2014. The specialist in measurement engineering will increase its stake in Analytik Jena to 82.22 percent of the share capital and voting rights.
Endress+Hauser had already announced its intention to pursue delisting in its mandatory offer of 31 October 2013. “Our goal is still to acquire Analytik Jena completely,” emphasized Matthias Altendorf, CEO of the Endress+Hauser Group and designated member of the Supervisory Board of Analytik Jena AG.
The withdrawal from the regulated market will significantly reduce administrative costs at Analytik Jena, for instance because publication and reporting duties would no longer apply. To protect the rights of minor shareholders, the withdrawal of approval to the Frankfurt Stock Exchange will only come into effect six months after its publication. Current free-trade listings at the exchanges in Stuttgart, Munich, Hanover, Düsseldorf, Berlin/Bremen and Hamburg are not affected by the delisting.
