[Ennoconn] Announcement from the Board of Directors Regarding Authorization for Chairman to Commence Preparatory Work for Mandatory Public Tender Offer for Subsidiary Kontron AG in Accordance with German Securities Law
Ennoconn's Board of Directors has authorized its chairman to begin preparatory work for a mandatory public tender offer for its subsidiary, Kontron AG, in compliance with German securities law. If its total stake, currently 29.72%, reaches 30%, Ennoconn will acquire outstanding Kontron AG common shares at €23.5 per share.
📋 Article Processing Timeline
- 📰 Published: May 6, 2026 at 09:00
- 🔍 Collected: May 8, 2026 at 08:00 (47h 0m after Published)
- 🤖 AI Analyzed: May 8, 2026 at 09:30 (1h 30m after Collected)
1. Date of occurrence of the event: 2026/05/06
2. Company name: Ennoconn Corporation
3. Relationship with the Company (please enter "parent company" or "subsidiary"): Parent company
4. Mutual shareholding percentage: Not applicable
5. Reason for occurrence: The Ennoconn Group's current total shareholding in its subsidiary Kontron AG is approximately 29.72%. If, due to continued acquisition of the company's common shares or passive factors, the total shareholding percentage reaches 30%, it is required by German securities trading laws to proceed with a mandatory public tender offer to acquire outstanding Kontron AG common shares in cash. To comply with relevant regulations and obtain necessary approvals in a timely manner, the company's Board of Directors has authorized the chairman to proceed with preparatory work for the public tender offer at an acquisition price of EUR 23.5 per share. Once the conditions for the mandatory public tender offer are met, the Board of Directors will convene again to approve the acquisition price, timing, and other terms, and will make a public announcement in accordance with the law.
6. Countermeasures: To be executed in accordance with the Board of Directors' resolution.
7. Other matters that need to be specified (If the event or the subject of the resolution pertains to a public offering company or higher, this material information simultaneously complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act regarding matters that have a significant impact on shareholders' equity or securities prices): None.
2. Company name: Ennoconn Corporation
3. Relationship with the Company (please enter "parent company" or "subsidiary"): Parent company
4. Mutual shareholding percentage: Not applicable
5. Reason for occurrence: The Ennoconn Group's current total shareholding in its subsidiary Kontron AG is approximately 29.72%. If, due to continued acquisition of the company's common shares or passive factors, the total shareholding percentage reaches 30%, it is required by German securities trading laws to proceed with a mandatory public tender offer to acquire outstanding Kontron AG common shares in cash. To comply with relevant regulations and obtain necessary approvals in a timely manner, the company's Board of Directors has authorized the chairman to proceed with preparatory work for the public tender offer at an acquisition price of EUR 23.5 per share. Once the conditions for the mandatory public tender offer are met, the Board of Directors will convene again to approve the acquisition price, timing, and other terms, and will make a public announcement in accordance with the law.
6. Countermeasures: To be executed in accordance with the Board of Directors' resolution.
7. Other matters that need to be specified (If the event or the subject of the resolution pertains to a public offering company or higher, this material information simultaneously complies with Article 7, Paragraph 9 of the Enforcement Rules of the Securities and Exchange Act regarding matters that have a significant impact on shareholders' equity or securities prices): None.