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COR&FJA AG signs letter of intent for the sale of its plenum shares

(PresseBox) (Leinfelden-Echterdingen, ) Today, COR&FJA AG and the Swissbased company ConQor AG, Zug, signed a letter of intent (LOI) for the planned sale of COR&FJA's shares in plenum AG, Frankfurt am Main (Munich stock exchange: m:access; ISIN DE000A0Z23Y9). The LOI was signed with the agreement of the COR&FJA Supervisory Board. The transaction will be executed subject to a satisfactory due diligence procedure and a final agreement between COR&FJA and ConQor.

The purchase price provided for in the LOI is around 1.4 million euros and corresponds to the unweighted average closing price of the plenum share on the last 100 stock-market trading days up until 14 September 2013. COR&FJA currently holds a total of 4,008,825 no-par-value bearer shares in plenum, which corresponds to a 41.33 per cent stake in its nominal capital. The intention within the scope of the planned transaction is that ConQor or a company in the ConQor group should purchase COR&FJA's entire equity stake in plenum.

plenum and its subsidiaries are currently being fully consolidated by COR&FJA and, as a result, incorporated into the COR&FJA Group's consolidated financial statements. In the last financial year 2012, the plenum group contributed almost 13.1 million euros of the COR&FJA Group's aggregate sales of 136.7 million euros. In the event of the equity stake in plenum being sold, the plenum group will be deconsolidated with the result that it will no longer contribute to the COR&FJA Group's sales.