Jiye Auto Parts GmbH lowers the minimum acceptance threshold for the takeover offer to the shareholders of Grammer AG from 50 percent plus one share to 36 percent plus one share – acceptance period extended until 6 August 2018, 24:00 hours
Amberg, July 18, 2018 – Jiye Auto Parts GmbH reduced the minimum acceptance threshold for its voluntary takeover offer for all outstanding shares of Grammer AG, which has been published on 25 June 2018, from 50 per cent plus one share to 36 percent plus one share today. As a result of the lowering of the minimum acceptance threshold, the acceptance period originally expiring on 23 July 2018 will be extended by two weeks and will now end on 6 August 2018, 24:00 hours.
All other terms and conditions of the offer remain unchanged. The Executive Board and the Supervisory Board will publish an additional statement on the modified offer in a timely manner pursuant to the provisions of the German Securities Acquisition and Takeover Act (WpÜG).
Located in Amberg, Germany, Grammer AG specializes in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles.
In the Automotive Division, we supply headrests, armrests, center console systems and high-quality interior components and operating systems to premium automakers and automotive system suppliers. The Commercial Vehicles Division comprises seats for the truck and offroad seat segments (tractors, construction machinery, forklifts) as well as train and bus seats.
With 13,000 employees, Grammer operates in 19 countries around the world.
Grammer shares are listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra.