On 28th May 2014, the Annual Shareholders’ Meeting of InVision AG (ISIN: DE0005859698) passed the resolutions, inter alia, on a capital increase from company funds without issuing new shares by an amount of EUR 5,587,500.00, from EUR 2,235,000.00 to EUR 7,822,500.00, and based on this, on a subsequent capital reduction by EUR 5,587,500.00, from EUR 7,822,500.00 to EUR 2,235,000.00.
The above mentioned resolutions of the Shareholders’ Meeting as well as the execution were registered in the Commercial Register (Handelsregister) of the Company, HRB 44338, at the Düsseldorf Local Court (Amtsgericht Düsseldorf) on 11th June 2014 and on 26th June 2014. By execution of the capital reduction, each individual share again represents a pro rata amount of the share capital of EUR 1.00.
The purpose of these capital measures, which converted appropriated capital reserves into free capital reserves, is the repayment of part of the capital to shareholders. The reduction amount of EUR 5,587,500.00 will be paid on a pro rata basis for each existing share on the date of payment. On the basis of the current number of 2,235,000 existing shares, this results in a payment amount of EUR 2.50 per share.
Due to provisions of corporate law, the repayment to shareholders will be executed at the end of a period of six months after the entry of the capital reduction in the Commercial Register has been published, and after the claims of creditors, that have made themselves known in due time, have been secured or satisfied. Shareholders do not need to take any further steps as the payment will be handled by their custodian bank that have the shares in custody at the relevant cutoff date.
As 26th December 2014 (six months after the entry of the capital reduction in the Commercial Register has been published on 26th June 2014) is a public holiday in Germany, the relevant cutoff date for shareholders that are entitled to the repayment shall be postponed to the next business day, Monday, 29th December 2014, after close of trading. The Company will arrange the payment on the following day, Tuesday, 30th December 2014.