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Jenoptik share certificates are being taken out of circulation.
JENOPTIK AG is calling in the share certificates it has issued and will be declaring them null and void. It was back on May 31, 1999 that the Jenoptik Annual General Meeting had passed a resolution to break down the share capital into no-par value shares* and to replace the previous par value shares (each denominated in a fixed amount) with no-par value shares.
This changeover rendered incorrect the content of the share certificates which previously had been issued. These are consequently to be taken out of circulation. New share certificates will not be issued since the articles of association exclude the shareholders' entitlement to the so-called securitization of their shares.
This means that all shareholders who physically hold their Jenoptik share certificates should submit the now incorrect share certificates (share certificate and coupon). They can do this up to March 14, 2008 via their respective domestic custodian bank or a branch or subsidiary of COMMERZBANK AG.
No action is required by shareholders whose shares are held in safe custody with a custodian bank. In the case of share certificates which are held in jacket custodianship (jacket custody account) with a custodian bank, the necessary steps will be taken by the custodian bank.
In place of the share certificates which they submitted, the corresponding shareholders will receive co-ownership of the global share certificate* of JENOPTIK AG - according to their previous stake in the share capital. The Commerzbank will provide the shareholders with a corresponding custody account credit.
The conversion of the share certificates rendered incorrect into a custody account credit requires the shareholder to have a safe custody account with a bank. The submission of the now incorrect share certificates, as well as the issue of the custody account credit, will be free of charge for our company's shareholders. Costs which may be incurred as part of the process of opening and establishing a safe custody account must be borne by the shareholders themselves.
Share certificates which are not submitted by March 14, 2008 will subsequently be declared invalid by JENOPTIK AG in accordance with § 73 of the Companies Act.
This changeover rendered incorrect the content of the share certificates which previously had been issued. These are consequently to be taken out of circulation. New share certificates will not be issued since the articles of association exclude the shareholders' entitlement to the so-called securitization of their shares.
This means that all shareholders who physically hold their Jenoptik share certificates should submit the now incorrect share certificates (share certificate and coupon). They can do this up to March 14, 2008 via their respective domestic custodian bank or a branch or subsidiary of COMMERZBANK AG.
No action is required by shareholders whose shares are held in safe custody with a custodian bank. In the case of share certificates which are held in jacket custodianship (jacket custody account) with a custodian bank, the necessary steps will be taken by the custodian bank.
In place of the share certificates which they submitted, the corresponding shareholders will receive co-ownership of the global share certificate* of JENOPTIK AG - according to their previous stake in the share capital. The Commerzbank will provide the shareholders with a corresponding custody account credit.
The conversion of the share certificates rendered incorrect into a custody account credit requires the shareholder to have a safe custody account with a bank. The submission of the now incorrect share certificates, as well as the issue of the custody account credit, will be free of charge for our company's shareholders. Costs which may be incurred as part of the process of opening and establishing a safe custody account must be borne by the shareholders themselves.
Share certificates which are not submitted by March 14, 2008 will subsequently be declared invalid by JENOPTIK AG in accordance with § 73 of the Companies Act.
* No-par value share: This is a share which is not denominated in a specific amount (nominal value). For each share the shareholder respectively participates in an equal partial amount of the share capital. The theoretic nominal value is derived from the share capital being divided by the total number of shares. This figure must be at least 1 euro.
* Global share certificate: The global share certificate is a collective certificate for securities which securitizes the right of all the holders. Its purpose is to simplify the administration and safekeeping of securities.