Osram minority investors could expect compensation to reach a “minimum of EUR 60-70 per share” if they are willing to challenge the Domination and Profit and Loss Transfer Agreement (DPLTA) compensation announced yesterday (22 September) by ams, according to Peter Dreier of Dreier Riedel Attorneys at Law.
Dreier, who is representing an unspecified number of minority investors who are seeking greater compensation from ams, told this news service that the EUR 44.65 per share DPLTA valuation announced today “would go up, this is not the end”.
Shares in Osram this afternoon were trading well above the announced valuation level, at EUR 49.77.
The market price level anticipates the announced valuation plus interest, plus the recurring “dividend” of EUR 2.24 net of tax, Dreier said. The EUR 2.24 payment is described as the “annual recurring compensation payment”, which investors can expect to receive if they agree to the DPLTA terms, until such time as they tender their shares.
Should the DPLTA become effective, investors comfortable with retaining their stock under ams’s domination could expect to receive the dividend, with the prospect of also receiving squeeze-out compensation and legally challenging the valuations for those payments at a later date, he said.
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By William Mace, Davide Salvi and Emma-Victoria Farr