Management holds 11.6% of Tognum AG
Posted on December 14, 2007
The top management and Supervisory Board members of Tognum AG together hold 11.6% of the company’s shares. This equity ownership demonstrates the great confidence placed in the company by its management. As previously agreed, the main Tognum shareholder Seeker Rekees S.à r.l., a company controlled by EQT, has now transferred the corresponding Tognum shares to Seeker Managementbeteiligung GmbH & Co. KG.
- Old shareholder transfers shares to management shareholding company
- Holding periods remain unchanged
Friedrichshafen, 14 December 2007. The top management and Supervisory Board members of Tognum AG together hold 11.6% of the company’s shares. This equity ownership demonstrates the great confidence placed in the company by its management. As previously agreed, the main Tognum shareholder Seeker Rekees S.à r.l., a company controlled by EQT, has now transferred the corresponding Tognum shares to Seeker Managementbeteiligung GmbH & Co. KG. This company now holds the Tognum shares of four Executive Board members, 23 executives of the second management level, and four Supervisory Board members. Hitherto, these persons had an indirect holding in Seeker Rekees S.à r.l. together with EQT and Schmid-Maybach LLC.
This step implements what was previously announced in the Tognum AG securities prospectus for the IPO which took place on 2 July 2007. The prospectus stated, “Following the initial public offering, Seeker Managementbeteiligung GmbH & Co. KG will exchange its shares in Seeker Rekees S.à r.l for shares in Tognum AG.”
Through Seeker Rekees S.à r.L., EQT continues to hold approximately 28.5 million shares in Tognum AG, representing a 21.7% equity interest. The Executive Board members, Supervisory Board members and management now continue to hold an 11.6% equity interest in Tognum AG through Seeker Managementbeteiligung GmbH & Co. KG. The holding periods also remain unchanged.
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Tognum
Tognum is one of the world’s leading suppliers of high speed diesel engines and complete propulsion systems for ships, heavy land and rail vehicles and of industrial drive systems as well as decentralized power plants, set-up in the two divisions mtu Engines and Tognum Onsite Energy Systems and Components.
Its product portfolio includes diesel engines in the power range from 20 to 9,100 kW, gas engine systems, gas turbines and fuel cells and is one of the most modern and comprehensive in its sector. In addition, the group develops and manufactures custom-made electronic control and monitoring systems for its engines and propulsion systems.
Sales of the Tognum Group amounted to EUR 2.5 billion in 2006. Today, the Group employs more than 8,000 personnel worldwide. It maintains a global sales and distribution network including 16 subsidiaries, more than 130 distribution partners and 1,100 authorized dealers.
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