Ad-hoc | 18 January 2012 18:40
MLP AG / Key word(s): Legal Matter
18.01.2012 18:40
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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MLP takes action against asserted claims
Some of the former shareholders in Feri AG are demanding an increase in the
purchase price payable by MLP AG amounting to EUR 51.5 million. As these
shareholders have not withdrawn their demands despite an imposed deadline,
MLP will - as communicated to the claimants - take legal action and file
for a negative declaratory judgement by the Regional Court of Frankfurt.
The aim of the legal action is to obtain judicial confirmation that the
claims asserted by this group of former Feri shareholders are unjustified.
The issue relates to the purchase of the remaining 43.4 percent of shares
in Feri in April 2011. As communicated at that time, MLP acquired the
shares for a provisional purchase price of EUR 50.6 million, and at the
same time, entered - as contractually specified - into discussions with the
former shareholders concerning an additional, variable component ('earn
out'). As expected, MLP reached agreement with a large portion of the
former shareholders, including the current Feri management.
Within the framework of these discussions, a separate element of the former
shareholders suggested that MLP had breached its contractual obligations.
In order to decisively counteract these asserted claims from the outset,
MLP will file for a declaratory judgement. MLP considers the demands to be
devoid of any legal basis.
18.01.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: MLP AG
Alte Heerstraße 40
69168 Wiesloch
Germany
Phone: +49 (0)6222-308-1135
Fax: +49 (0)6222-308-8351
E-mail: investorrelations@mlp.de
Internet: www.mlp-ag.de
ISIN: DE0006569908
WKN: 656990
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München; Terminbörse EUREX
End of Announcement DGAP News-Service
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