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EQS-News: Schaeffler AG
/ Key word(s): Miscellaneous
Herzogenaurach, Germany | September 27, 2024 | Schaeffler AG (Common shares: ISIN DE000SHA0019 / WKN: SHA001) expects the merger of Vitesco Technologies Group AG (ISIN: DE000VTSC017 / WKN: VTSC01) with Schaeffler AG by means of merger by absorption in exchange for the granting of shares in Schaeffler AG to the existing shareholders of Vitesco Technologies Group AG to take effect on October 1, 2024 upon entry of the merger into the commercial register of Schaeffler AG. The conversion of the common non-voting shares of Schaeffler AG (ISIN: DE000SHA0159 / WKN: SHA015) into common shares of the company is also expected to take effect on October 1, 2024. In this conjunction, the Frankfurt Stock Exchange will suspend trading in the common non-voting shares of Schaeffler AG and the shares of Vitesco Technologies Group AG before the start of trading on October 1, 2024. This means that September 30, 2024 will be the last trading day for the common non-voting shares of Schaeffler AG and the shares of Vitesco Technologies Group AG. Trading in the common shares of Schaeffler AG is expected to begin on October 2, 2024. Schaeffler AG will inform the capital market about further developments in accordance with its statutory obligations.
Forward-looking statements and projections Certain statements in this press release are forward-looking statements By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.
Schaeffler Group – We pioneer motion The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for over 75 years. With innovative technologies, products, and services for electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable – over the entire life cycle. The Motion Technology Company manufactures high-precision components and systems for drive train and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of EUR 16.3 billion in 2023. With around 84,000 employees, the Schaeffler Group is one of the world’s largest family-owned companies and ranks among Germany’s most innovative companies.
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27.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Schaeffler AG |
| Industriestr. 1-3 | |
| 91074 Herzogenaurach | |
| Germany | |
| Phone: | 09132 - 82 0 |
| E-mail: | |
| Internet: | |
| ISIN: | DE000SHA0159 |
| WKN: | SHA015 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1997227 |
| End of News | EQS News Service |
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1997227 27.09.2024 CET/CEST
