Brief: Paragon Says Letter Of Intent Regarding Initial Partial Sale Of Voltabox Shares

paragon GmbH & Co KgaA

10/12/2020 13:43

Dec 10 (Reuters) - PARAGON GMBH & CO KGAA  PGNG.DE :
    * SIGNATURE OF LETTER OF INTENT REGARDING INITIAL PARTIAL
SALE OF
VOLTABOX SHARE BLOCK AND AWARDING OF CALL OPTIONS
    * LETTER OF INTENT ALSO PROVIDES THAT, IN ADDITION TO SALE
OF
BLOCK OF SHARES, VARIOUS CALL OPTIONS WILL BE GRANTED TO ALLOW
INVESTORS TO GRADUALLY INCREASE THEIR STAKE IN VOLTABOX AG TO
29.9% AND ULTIMATELY TO AROUND 50%
    * SIGNED A LETTER OF INTENT WITH SWISS INVESTORS REGARDING
CONCLUSION OF A PURCHASE AGREEMENT FOR AN INITIAL BLOCK OF
SHARES AMOUNTING TO 18% OF SHARE CAPITAL OF SUBSIDIARY VOLTABOX
AG
    * PARAGON WOULD REMAIN A VOLTABOX SHAREHOLDER UNTIL CALL
OPTIONS
ARE EXERCISED IN ORDER TO PARTICIPATE IN EXPECTED RECOVERY IN
VALUE OF FINANCIAL INVESTMENT
    * LONG-TERM INVOLVEMENT WITH VOLTABOX AG IS NOT PLANNED

Source text for Eikon:  ID:nEQ90Zv7Ma 
Further company coverage:  GNG.DE 

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