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Curanum AG Announces Agreement with Korian SA Concerning Contribution of Phonix Shares Occurring Through Share Capital Increase Reserved to Korian SA

Thursday, 4 Jul 2013 05:40am EDT 

Curanum AG announced that its Supervisory Board at its meeting on July 4, 2013 has approved the contribution of the shares of PHONIX Seniorenzentren Beteiligungsgesellschaft mbH, Fussen, to Curanum by Korian SA, Paris. The contribution agreement between Curanum and Korian will be officially recorded on July 4, 2013. The contribution is to occur as part of a capital increase against non-cash capital contributions whereby Curanum's share capital of EUR 42,507,000 is to be increased by EUR 56,676,000 to EUR 99,183,000, and Korian is to be permitted to subscribe for the 56,676,000 new shares under exclusion of subscription rights for the remaining shareholders, whereby the Korian Group would hold a total of around 90.74% of the shares. The contribution of the shares is subject to the condition precedent that the Shareholders' General Meeting of Curanum passes a corresponding resolution concerning an increase of capital. 

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-0.026 -0.82%
11 Jul 2014