EQS-News: ProCredit Holding AG & Co. KGaA
/ Key word(s): Legal Matter/Miscellaneous
ProCredit Holding intends to convert into a stock corporation (Aktiengesellschaft)
Frankfurt am Main, 14 October 2022 – ProCredit General Partner AG, in consultation with its shareholders, the core shareholders of ProCredit Holding, today agreed to prepare a change of the legal form of ProCredit Holding from a partnership limited by shares (KGaA) to a stock corporation company (Aktiengesellschaft, AG). The change of legal form requires approval by the shareholders of the Company (Kommanditaktionäre) and is to be obtained at a general meeting within the next two years. The group's business focus and, in particular, its commitment to impact-orientation and to the provision of responsible banking services mainly in South Eastern and Eastern Europe, will remain strong and unaffected.
The agreement between the ProCredit General Partner AG and the strategic investors of the group agrees a pathway to enable a legal form conversion to secure the advantages of a stock corporation as a more internationally recognised and market-friendly corporate structure, whilst preserving the unique development mission of the group. A full analysis of this option is to follow and a corresponding proposal to a ProCredit Holding General Shareholders’ Meeting is to be made at the earliest suitable time within the next two years. It marks an important milestone for the ProCredit group as it fosters its further development as a publicly listed company.
The Management Board of ProCredit General Partner AG highlights: “This strategic proposal reflects the maturity of the ProCredit group as a publicly listed company and confidence in its further development. We see the role and impact-orientation of the ProCredit banks today as more important than ever. As such, we aim to continually strengthen the corporate structure and capital market presence of the group, whilst at the same time sustaining its development mission and the unique long-term partnerships we enjoy with international financial institutions. We will prepare a proposal to the General Shareholders’ Meeting of ProCredit Holding within the next two years, which we believe would be in the interests of all shareholders of the Company (Kommanditaktionäre).”
Christian Dagrosa, Investor Relations, ProCredit Holding, Tel.: +49 69 951 437 0,
About ProCredit Holding AG & Co. KGaA
ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit group, which consists of commercial banks for small and medium enterprises (SMEs). In addition to its operational focus on South Eastern and Eastern Europe, the ProCredit group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (the investment vehicle for ProCredit staff), the Dutch DOEN Participaties BV, KfW Development Bank and IFC (part of the World Bank Group). As the group’s superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For additional information, visit: www.procredit-holding.com.
This press release contains statements relating to our future business development and financial performance, as well as statements relating to future actions or developments affecting ProCredit Holding which may constitute forward-looking statements. Such statements are based on the management of ProCredit Holding’s current expectations and specific assumptions, many of which are beyond the control of ProCredit Holding. They are therefore subject to a multitude of risks, uncertainties and factors. Should one or more of these risks or uncertainties materialise, or should underlying expectations or assumptions prove incorrect, then the actual results, performance and achievements (both negative and positive) of ProCredit Holding may differ significantly from those expressed or implied in the forward-looking statement. Beyond the legal requirements, ProCredit Holding does not undertake any obligation to update these forward-looking statements or to correct them in the event of deviations from the expected development.
14.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||ProCredit Holding AG & Co. KGaA|
|60486 Frankfurt am Main|
|ISIN:||DE0006223407, DE000A289FD2, DE000A3E5LD7, DE000A0N37P3, DE000A161YW4, DE000A3MP7Z1, DE000A289E87, DE000A3E47A7, DE000A2YN7F2, DE000A2YN017|
|Indices:||im Freiverkehr der Frankfurter Wertpapierbörse|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1464395|
|End of News||EQS News Service|
1464395 14.10.2022 CET/CEST