Yesterday, on July 5, 2023, an extraordinary general meeting of onoff AG was held in Ludwigshafen. The agenda contained a single resolution: the approval of the planned squeeze-out, i.e. the transfer of the last shares not yet owned by SpiraTec AG to the main shareholder at a compensation amount determined in advance.
As expected, the few remaining small shareholders were not pleased, and so the CEO of onoff AG, Dr. Uwe Ganzer, had to answer numerous critical questions over a period of almost eight hours. At the end of the day, the proposed resolution was then accepted by 99.642% of all registered shares or the capital stock.
