Funkwerk AG will shortly apply for the cancellation of the listing of Funkwerk shares in the qualified open market segment m:access and the revocation of the inclusion of the shares in the open market of the Munich Stock Exchange. The timing of the delisting depends on the decision of the Munich Stock Exchange.
The decision to delist was made after weighing up the associated advantages and disadvantages and is primarily intended to reduce the follow-up obligations associated with the stock market listing. In addition to the administrative effort and costs, the delisting eliminates transparency requirements in particular. The limited liquidity and low trading volume of the Funkwerk share will also increase the already low interest of institutional investors in German small-cap shares, making possible equity measures more difficult. Funkwerk has not tapped the capital market for more than 20 years and does not plan to do so in the context of future strategic considerations. If necessary, potential financing measures could be implemented with existing commercial banks and other financial service providers.
The Funkwerk share (WKN: 575314; ISIN: DE0005753149) has been listed on the stock exchange since the calendar year 2000 and in the m:access OTC segment of the Munich Stock Exchange since 2013. Of the total of 8,101,241 shares, 6,306,209 (77.84 %) are held by Hörmann Industries GmbH, Kirchseeon, according to the last notification. Accordingly, 1,795,032 shares (22.16 %) are in free float.
