Period for offering DEWB shares expires
In October 2005 the Oberlandesgericht Frankfurt/Main (Superior Court of Frankfurt/Main) rendered a final order in the DEWB appraisal proceedings which lasted more than twelve years. The statutory two month period which followed the announcement of the ruling in the electronic Bundesanzeiger (Federal Journal) on October 18, 2005, during which the shareholders of DEWB AG were able to offer their shares to JENOPTIK AG, expires today. Up to Friday last week, almost 2,750 persons had registered with JENOPTIK AG alleging to be entitled to compensation in respect of a total of approximately 5.9 million shares of DEWB AG. The volume tendered will have no effect on the 2005 Group result.
As at the date of the termination of the control agreement between JENOPTIK AG and DEWB AG, approximately 70,000 shares were owned by outside shareholders. Jenoptik takes the view that only those shares held by outside shareholders qualify for compensation. Since that date, compensation has been paid in respect of approximately 13,000 shares.
The burden of proof with regard to the entitlement to compensation on the part of one shareholder who presumably acquired his shares after the termination of the control agreement, is the subject of a particular case (11,025 shares) pending before the Bundesgerichtshof (Federal Supreme Court) against a ruling by the OLG Jena (Superior Court of Jena) dated December 2004.
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