BERLIN, Germany, Dec. 16, 2008 (GLOBE NEWSWIRE) -- The Management Board of Jerini AG (FSE:JI4) has received a formal request, according to section 327a of the German Stock Corporation (AktG), from Shire Deutschland Investments GmbH, an indirect subsidiary of Shire plc, (formerly Shire Limited) with registered offices in Frankfurt am Main, to pass a resolution at Jerini's General Shareholders' Meeting calling for the transfer of shares held by Jerini's minority shareholders to Shire Deutschland Investments GmbH (so-called "Squeeze Out"). As compensation, minority shareholders will receive payment of adequate cash compensation from Shire Deutschland Investments GmbH.
Shire Deutschland Investments GmbH intends to offer cash compensation per share in at least an amount calculated in accordance with the statutory provisions, the Supreme Court jurisdiction, and the pertaining rules of the German Institute of Chartered Accountants (IdW).
Shire Deutschland Investments GmbH has stated that it currently holds 98.32 percent of Jerini's share capital directly, and thus is the Main Shareholder as defined in section 327a para. 1 sentence 1 AktG.
In addition, the Main Shareholder has also stated that it plans to propose a resolution at the same General Shareholders' Meeting, which, if passed, authorizes the Management Board to apply for the delisting of Jerini AG's shares from the Regulated Market (Regulierter Markt) of the Frankfurt Stock Exchange (so-called "Regular Delisting").
ISIN: DE0006787476
Regulated Market / Prime Standard; Frankfurt Stock Exchange, Germany