Puma se plans share split at a ratio of 1:10

The Supervisory Board and the Management Board of PUMA SE decided today to propose to the General Meeting on 18 April 2019 the resolution on a capital increase from company funds by EUR 112,213,532.16 to EUR 150,824,640.00 without the issuance of new shares (section 207(2)(2) Stock Corporation Act) as well as a subsequent amendment of the Articles of Association to re-divide the share capital at a ratio of 1 to 10 (share split).

Neither the capital increase from company funds nor the share split will result in any changes in the ownership structure of the shareholders in the Company. If the proposed resolutions are accepted by the General Meeting and the amendments to the Articles of Association is registered in the commercial register, each existing share will automatically be exchanged for 10 new shares. As a result of the increase in the number of shares of the Company by a factor of 10, their stock market price is expected to decrease accordingly.

The agenda of the General Meeting 2019 including the resolution proposals of the Management Board and the Supervisory Board is expected to be published in the Federal Gazette on 11. March 2019.

Originally published by Puma.