Medion AG: Ad hoc Release pursuant to Section 15 WpHG
Lenovo intends Domination and Profit and Loss Transfer Agreement with MEDION AG
Essen, 29. July 2011 - Today, Lenovo Germany Holding GmbH, Düsseldorf, a subsidiary of Lenovo Group Limited, informed MEDION AG about its intention to enter into a domination and profit and loss transfer agreement with MEDION AG. Following today’s acquisition of 17.748.033 MEDION shares, Lenovo Germany Holding GmbH, based on the MEDION shares held by it as well as binding voting agreements, has secured a total of more than 75 per cent of the voting rights of the share capital of MEDION AG currently being entitled for voting.
Thereupon, the executive board of MEDION AG has decided to begin negotiations with Lenovo Germany Holding GmbH within the next days in order to prepare the conclusion of the domination and profit and loss transfer agreement. The provisions regarding compensation and guaranteed dividend for minority shareholders of MEDION AG will comply with the legal requirements and will be based upon a valuation of the company still to be conducted.
MEDION AG assumes that the necessary preparations can be completed in October 2011 and that an extraordinary general meeting resolving on the domination and profit and loss transfer agreement can take place in December 2011.