EQS-Adhoc: STEICO SE: Sale of the majority stake in STEICO SE

Sale of the majority stake in STEICO SE

Feldkirchen near Munich, July 17, 2023 (ISIN DE000A0LR936) STEICO SE today received notification from Schramek GmbH, the majority shareholder of STEICO SE with a current shareholding of 61.1%, that they are merging with the Irish Kingspan Group plc and of Kingspan Holding GmbH, an indirect subsidiary of Kingspan Group plc, has signed an agreement to sell 51.0% of the shares in STEICO SE to Kingspan Holding GmbH. A further 10.1% of the shares in STEICO SE will remain with Schramek GmbH for the time being. The board of directors of STEICO SE expects the cooperation with Kingspan to have sustainable synergy effects in market development and significant impetus for further growth.

In accordance with his appointment, Udo Schramek will remain Chairman and Managing Director of STEICO SE. For the period after the execution of the agreement, Kingspan Holding GmbH, with the support of Schramek GmbH, will strive for representation in the Administrative Board of STEICO SE that is appropriate to Kingspan Holding GmbH’s participation. Udo Schramek will resign as Chairman of the Administrative Board of STEICO SE to complete the agreement. However, he remains a member of the Board of Directors of STEICO SE.

As a precautionary measure, it is pointed out that the majority sale of the shares in STEICO SE does not lead to the need for a takeover bid for the remaining shares in STEICO SE, since STEICO SE is only traded over the counter and therefore the provisions of the Securities Acquisition and Takeover Act ( WpÜG) do not apply.

Contact
Andrew Schulze
STEICO SE
Otto Lilienthal Ring 30
85622 Feldkirchen
Phone: +49-(0)89-99 15 51-548
Fax: +49-(0)89-99 15 51-704
Email: [email protected]
www.steico.com