| DGAP-News: BayerLaw Rechtsanwaltsgesellschaft mbH / TRICON Rechtsanwälte Steuerberater / Key word(s): Miscellaneous BayerLaw Rechtsanwaltsgesellschaft mbH / TRICON Rechtsanwälte Steuerberater: Deutsche Postbank AG - Acting-in-Concert 20.10.2017 / 14:30 The issuer is solely responsible for the content of this announcement.
Deutsche Postbank AG - Acting-in-Concert +++Cologne Court Confirms Acting-in-Concert between Deutsche Bank AG ("Deutsche Bank") and Deutsche Post AG (" Deutsche Post") in respect of Deutsche Postbank AG (DPB.DE/ISIN: DE0008001009) ("Postbank")+++Various Classes of Former Postbank Shareholders May Claim Damages of around EUR 50 (including interest) per Share from Deutsche Bank +++Aggregate Claims Estimated to Reach at least EUR 3 bn.+++ Law firms BayerLaw and TRICON Rechtsanwälte & Steuerberater ("TRICON Law") inform German and international institutional investors of today's rulings by the Cologne Regional Court with respect to Deutsche Bank's staggered acquisition of Postbank between 2008 and 2015: - BayerLaw and TRICON Law have obtained positive judgments from the Cologne Regional Court ("Court"). The Court confirmed that Deutsche Bank and Deutsche Post acted in concert in connection with the staggered acquisition of Deutsche Postbank by Deutsche Bank between 2008 and 2012. The 2015 resolution on the squeeze-out of Postbank minority shareholders was invalidated; moreover, significant top-up payments to litigating former shareholders of Postbank who tendered into Deutsche Bank's voluntary tender offer dated October 6, 2010 have been ordered by the Cologne Court, including interest thereon from September 2008. The judgments are subject to appeal.
- The Court rejected class action requests filed by Schirp law firm and by Deutsche Bank itself.
- Former Postbank shareholders who tendered into Deutsche Bank's voluntary tender offer dated October 6, 2010 (approx. 48mn shares) should have minimum improvement claims of around EUR 50.00 per share including interest. Similarly, other classes of former Postbank shareholders who sold Postbank shares to Deutsche Bank or in the market between September 12, 2008 and December 21, 2015 should have damage claims for the difference between the Reference Price (currently known as EUR 57.25, potentially higher) and the sales price received plus interest at 5% over ECB base rate p. a. In aggregate, these claims may reach several billion Euros.
- Action Required: The Court ruling has no inter-omnes effect on all former shareholders of Postbank; based on BaFin's inaction so far, former shareholders of Postbank should not expect any protective action by Germany's regulator. Shareholders desiring to liquidate their top-up claims are therefore required to proactively pursue them in due course so as to avoid any time lapsing of their claims, potentially as early as December 31, 2017.
- BayerLaw and TRICON Law have established an Ad Hoc Committee of numerous institutional former Postbank shareholders in December 2016 so as to advise the committee members on safeguarding their claims and receive litigation financing if required. Institutional investors or private investors holding claims in excess of EUR 200,000 considering joining this group or requiring additional information may contact BayerLaw under info@bayerlaw.de or TRICON Law under kanzlei@triconlaw.de.
- BayerLaw and TRICON Law will hold a conference call in due course informing the Ad Hoc Committee and those additional institutional investors requesting invitation at the above e-mail addresses how to best safeguard top-up claims against Deutsche Bank and others.
***** BayerLaw Rechtsanwaltsgesellschaft mbH, represented by Geschäftsführer RA Jan D. Bayer, Barckhausstrasse 10, 60325 Frankfurt am Main. TRICON Rechtsanwälte Steuerberater, represented by Dr. Oliver Krauss, Bräuhausstraße 4, 80331 München
20.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
|
