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Curanum AG announces amendment to agreement with Korian SA concerning contribution of Phonix shares occurring through share capital increase reserved to Korian SA


Tuesday, 11 Feb 2014 02:07pm EST 

Curanum AG:Says on Jul. 6, 2013, Curanum AG and Korian SA entered into a contribution agreement relating to the contribution of all shares of Phonix Seniorenzentren Beteiligungsgesellschaft mbH (Phonix) by Korian SA to Curanum AG against issuance of new shares in Curanum AG.Says the contribution agreement is subject to the condition subsequent of the registration of the capital increase against contribution in kind by Feb. 28 in the commercial register of Curanum AG.Says on Aug. 21, 2013, the annual general meeting of Curanum AG approved the capital increase against contribution in kind.Says in the oral hearing on Dec. 18, 2013, the Higher Regional Court did not resolve that the capital increase is to be registered irrespective of the contestation suits.Says Curanum AG and Korian S.A has signed an amendment to the contribution agreement of Jul. 6, 2013, clarifying the consequences of fulfillment of the condition subsequent.Says based on the amendment and the original contribution agreement, the capital increase will not become effective by Feb.28, 2014 and the contribution in kind will be reversed with economic retroactive effect.Says Curanum AG and Phonix have agreed to sign a service agreement relating to certain services rendered by Curanum AG on behalf of and for the account of Phonix in order to realize substantial parts of the planned synergies for both companies without the contribution in kind. 

Company Quote

3.983
0.068 +1.74%
22 Jul 2014