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Regional Court of Nuremberg-Fürth has lifted the enforcement of the interim injunction against Grammer AG
- The German Federal Cartel Office has also confirmed that the acquisition of Grammer shares by an associated company of Ningbo Jifeng is not subject to approval
- All obstacles to the issue of shares to the strategic partner have now been cleared
In a ruling issued today, the Regional Court of Nuremberg-Fürth has lifted the enforcement of the interim injunction that had been obtained by Prevent DEV GmbH against Grammer AG. Under this interim injunction, Grammer AG had been prohibited from granting shares under the mandatory convertible bond that had been issued on February 14, 2017.
In addition, the German Federal Cartel Office confirmed today that acquisition of Grammer shares by JAP Capital Holding GmbH, an associated company of Ningbo Jifeng, is not subject to approval as the relevant revenue thresholds have not reached.
This means that there are now no longer any obstacles to the issue of new shares to the strategic partner upon the conversion rights being exercised.
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