RPT: GRAMMER Aktiengesellschaft: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution
November 08, 2023 at 05:49 am EST
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EQS Related Party Transactions announcement: GRAMMER Aktiengesellschaft
/ Release of an announcement according to Article 111c of the AktG [the German Stock Corporation Act]
GRAMMER Aktiengesellschaft: Release according to Article 111c of the AktG [the German Stock Corporation Act] with the objective of Europe-wide distribution
08.11.2023 / 11:47 CET/CEST
Dissemination of a Related Party Transactions announcement transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of material transactions with related parties pursuant to Section 111c para. 4 AktG in conjunction with para. 1 sentence 1 AktG
GRAMMER (China) Holding Co., Ltd. Hefei City, China ("Company") as borrower and Ningbo Jifeng Auto Parts Co., Ltd., Ningbo City, China ("Ningbo Jifeng") as lender have on 31 October 2023 entered into a loan agreement in the amount of CNY 150,000,000.00 (approximately EUR 19,4 million as of October 31, 2023) ("Loan"). The Company is a direct subsidiary of GRAMMER AG. Ningbo Jifeng indirectly holds around 86 % of the issued shares of GRAMMER AG via Jiye Auto Parts GmbH, Kitzingen, Germany and is therefore a related party of GRAMMER AG within the meaning of section 111a of the German Stock Corporation Act (AktG).
The Loan is structured as a hybrid loan and is classified as equity. It is unsecured and concluded for an indefinite period. The interest rate is 6 % p.a. The Company is not obliged to pay interest or repay the Loan. Interest payments and loan repayments are at the sole discretion of the Company.
The Executive Board of GRAMMER AG has taken the nominal amount of the Loan of approximately EUR 19,4 million as the value of the transaction within the meaning of section 111b para. 1 AktG.
Ursensollen, 08 November 2023
GRAMMER AG
The Executive Board
08.11.2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
GRAMMER AG is a Germany-based company that is active in the automobiles and auto parts sector. The Company develops and manufactures components and systems for automobile interiors, as well as driver and passenger seats. It is organized into two business segments: Automotive and Seating Systems. The Automotive segment supplies headrests, armrests, and center consoles, and the Seating Systems segment provides driver seats for trucks and off-road vehicles, including tractors and agricultural machinery, construction machinery and fork-lifts, as well as driver and passenger seating solutions for trains, coaches and inter-urban buses. The Company operates approximately 40 product and distribution sites in Europe, North America, Latin America, Asia and Africa.
GRAMMER AG 
