- Changes in the Executive Board effective as of registration of the merger of CROSS Industries AG and BF HOLDING AG
- Change of the company name to CROSS Industries AG
- Listing of the new shares issued in connection with the merger
After the Annual General Meetings of BF HOLDING AG, FN 78112 x and CROSS Industries AG, FN 261823 i, have decided to merge CROSS Industries AG as transferring company with BF HOLDING AG as acquiring company on 22 April 2015, the executive board members of BF HOLDING AG, Ms. Michaela Friepess and Mr. Michael Hofer, will resign from the executive board with effect from the registration of the merger with the commercial register.
A shareholder of BF HOLDING AG has challenged the decisions of the Annual General Meeting on the merger. The Company will inform the shareholders separately, once the merger has been registered with the commercial register.
On 28 May 2015, the Supervisory Board of BF HOLDING AG has decided to appoint Mr. Stefan Pierer, Mr. Friedrich Roithner, Mr. Alfred Hörtenhuber and Mr. Wolfgang Plasser as new members of the executive board with effect from the registration of the merger with the commercial register. Mr. Stefan Pierer and Mr. Friedrich Roithner are appointed until 20 January 2020, Mr. Alfred Hörtenhuber until 31 January 2018 and Mr. Wolfgang Plasser until 31 May 2017.
Mr. Stefan Pierer, Mr. Friedrich Roithner and Mr. Alfred Hörtenhuber have been executive board members of CROSS Industries AG for many years. Mr. Wolfgang Plasser is the CEO of the stock listed company Pankl Racing Systems AG, a company of the CROSS group.
Simultaneous with the registration of the merger with the commercial register, BF HOLDING AG will change its company name and will operate in the future as CROSS Industries AG.
The shares of the Company will continue to be listed on the Official Market (mid market segment – continuous trading) of the Vienna Stock Exchange under ISIN AT0000820659. The company has applied for the listing of the 210,000,000 new shares, which will be issued in connection with the merger, on the Official Market of the Vienna Stock Exchange (listing expansion). Once the admission of the new shares to the Official Market has been granted by the Vienna Stock Exchange, the company will inform the shareholders accordingly.
CROSS Industries AG is the majority shareholder of the automotive group KTM AG (with the brands KTM and Husqvarna), Pankl Racing Systems AG and WP AG. The CROSS group occupies more than 4,400 employees and generated consolidated revenues of approximately EUR 1.1 billion in the financial year 2014 and EUR 301.7 million in the first quarter of the financial year 2015.
This announcement neither constitutes an offer to sell securities nor an invitation to submit an offer to buy securities of BF HOLDING AG.