Press release BoxID: 165526 (ElringKlinger AG)
  • ElringKlinger AG
  • Max-Eyth-Str. 2
  • 72581 Dettingen / Erms
  • Contact person
  • Stephan Haas
  • +49 (7123) 724-137

Stock split at ElringKlinger

(PresseBox) (Dettingen/Erms (Germany), ) SDAX-listed automotive supplier ElringKlinger AG plans to implement a 1:3 stock split. The Management Board and Supervisory Board will be submitting their corresponding proposal to the General Meeting of Shareholders.

1:3 stock split If the management's proposal is accepted by the General Meeting of Shareholders on May 30, 2008, each ElringKlinger shareholder will receive three new shares for every share currently held. As a result of the split, the overall number of shares will increase threefold from 19,200,000 to 57,600,000. At the date of issue, ElringKlinger's share price will thus adjust downwards to a third of its pre-split price. The exact date of the initial listing has yet to be set.

The stock split will have no effect on the company's ownership structures or equity.

Trading volumes to rise further As the CEO of ElringKlinger AG, Dr. Stefan Wolf, explains, "The company's favorable performance is reflected in what is currently perceived to be an optically relatively high share price. The value of our stock rose by around 70% in 2007. The aim of the stock split is to bring the share price down to an optically more attractive level. Experience has shown that this also has a positive effect on the volume of shares traded, thus increasing the liquidity of ElringKlinger stock. Our medium-term goal is to achieve an MDAX listing. Trading volume is one of the two key criteria within this context."