Press release from: 29 May 2013
SMARTRAC Announces Effective Delisting from Frankfurt Stock Exchange
SMARTRAC N.V. (stock abbreviation SM7) (the "Company"), today announced that the delisting of its ordinary bearer shares, ISIN NL0000186633, from the regulated market of the Frankfurt Stock Exchange became effective. On the Company's request, the Frankfurt Stock Exchange revoked the listing of the Company’s shares from the regulated market (Prime Standard) effective at the end of day on May 28, 2013.
The SMARTRAC Management Board resolved to apply for a voluntary delisting in September 2012 due to the low free float of only 2.8 percent, the resulting low trading volumes of its shares, the listing fees and compliance administration costs. On November 30, 2012, the Frankfurt Stock Exchange decided to accept the application.
“The delisting from the Frankfurt Stock Exchange represents a turning point in our company history,” said Christian Uhl, Co-Chairman and CFO. “At the same time, we are very pleased that we have a strong and committed majority shareholder as well as reliable financial partners on our side to accompany the further successful development and growth of our company. We would like to thank all of our shareholders, professional analysts, and institutional investors for their support over the past years and we look forward to stay in contact.”
Upon effectiveness of the delisting and the concomitant notarization of the Company’s adapted Articles of Association, bearer shares in SMARTRAC N.V. will be converted into registered shares. A current shareholder may only exercise his rights after having been registered as shareholder in the Company's shareholder's register.
Shareholders in SMARTRAC N.V. are therefore asked to contact their depositary bank to transfer their bearer shares along with their name and address to Deutsche Bank Aktiengesellschaft, Frankfurt, as the central settlement agent of the Company, up to and including July 29, 2013, for entry into the Company’s register of shareholders.
SMARTRAC was founded in 2000 and has its registered headquarters in Amsterdam, The Netherlands. The company currently employs approximately 3,600 employees and maintains a global research and development, production, and sales network. If you have any questions, please contact:Tanja Moehler
Head of Corporate Communications & Marketing
Phone: +31 20 30 50 157
All forward-looking statements contained in this press release are based on assumptions, planning, and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions, and other factors may cause the actual results to be materially different from the assumptions, planning, and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.