Masterflex AG : Adhoc-release: Focus on its holding function
03/26/2012| 10:02am US/Eastern
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Gelsenkirchen, 26 March 2012 - Based on comprehensive
preliminary investigations, the Executive and Supervisory
Boards have decided to press ahead with the reorganisation of
Masterflex AG into a pure management and financial holding
company. As a result of the preliminary investigations,
Masterflex AG's operating business at the location
Gelsenkirchen is to be transferred to a wholly owned
subsidiary by way of a spin-off under the law regulating the
transformation of companies. Via a spin-off, a legal entity
can transfer a part or several parts of its assets to another
existing legal entity in exchange for the granting of shares
or memberships. All the operating activities of Masterflex AG
are to be the subjects of the spin-off, but not the assets or
liabilities necessary for its function as a holding company
managing the Group. There is no change in the assets of the
Masterflex Group associated with this, apart from the
allocation of operating assets and liabilities to an existing
wholly-owned subsidiary.
The objective of the spin-off is to improve the management of
the operating units, above all with regard to the increasing
internationalisation of the Masterflex Group's activities in
the high-tech hose and connector business. As a similar
expression of this internationalisation, Masterflex AG's
legal form is to be transformed into that of an SE (Societas
Europaea).
Both steps are subject to approval by the Annual General
Meeting.
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This press release was issued by Masterflex AG and was initially posted at http://www.masterflex.de/com/?news_id=1401&node_id=14&category=12 . It was distributed, unedited and unaltered, by noodls on 2012-03-26 15:52:06 PM. The issuer is solely responsible for the accuracy of the information contained therein.
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