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News
08.07.2009
FRIEDRICH HUEMER CONTRIBUTES TO THE FURTHER FINANCING OF THE GROUP

POLYTEC HOLDING AG today announced that the lawyer Peter Posch, President of the Upper Austrian Bar Association, holds 16% of POLYTEC HOLDING AG’s share capital as of July 6, 2009.

 

This transfer of shares is linked to the granting of additional credit facilities totaling EUR 31 million, for which the founder and CEO Friedrich HUEMER has assigned, through HUEMER Holding GmbH, 3,572,734 shares or 16% of the company’s share capital to Peter Posch - a Wels (Austria)-based lawyer and President of the Upper Austrian Bar Association - as collateral.

Mr. Posch will hold these shares as a security trustee and will not be subject to any instructions when exercising his voting rights. He is, however, required to exercise his voting rights in the best interests of POLYTEC Holding AG. In the exercise of his voting rights, Mr. Posch is only bound to the HUEMER Holding GmbH with regard to a small number of important measures. He is explicitly free from any instructions from the lending banks. Moreover, Mr. Posch does not have any close economic relationship with either Huemer Holding GmbH or the lending banks.

HUEMER Holding GmbH informed POLYTEC Holding AG that the share of voting rights fell below the 15% threshold as of July 6, 2009. CEO Friedrich Huemer thus holds 16.4% of the voting rights (share capital) via, Friedrich Huemer directly assignable companies (HUEMER Holding GmbH – 14.83%, IMC Verwaltungsgesellschaft mbH – 1.54%)

 
 
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