Capital News
Farewell Bourse
Marseille-Kliniken AG shares will no longer be traded on the stock exchange after mid August. While presently traded on the free market, the decision to delist was reached at the end of June. No liquidation payment is being offered and a bond trader has been commissioned to create a trading platform independent of the stock exchange. The shareholders were not brought into the process that led to this decision.
After the devaluation caused by the shift in business sector, the price lowered even further when the decision to abandon the stock exchange became known. According to Wirtschaftswoche, a number of shareholders would welcome an ad hoc audit. Wirtschaftsmagazin has stated that the shareholders fear that after the devaluation Ulrich Marseille, founder of the chain of clinics and majority shareholder, will gather up a lot of shares cheaply which would increase his profit should he decide to sell. The general consensus of opinion seems to be that the only beneficiary of delisting was Ulrich Marseille which is why certain shareholders would welcome an audit to ascertain whether the board of directors or the Supervisory Board acted with bias against the interests of other investors.
At present the amount of Marseille’s holding is unknown. Since the market segment has changed, he is no longer obliged to reveal this information. Last year, the quota of Marseille and his wife combined amounted to 60 percent. Past dealings between the companies Marseille owns personally and Marseille Kliniken AG. have often been intense, and rumoured to be less than transparent.
Borussia Dortmund: the main sponsor is also an investor
The Bundesliga soccer team, Borussia Dormund GmbH & Co. KGaA (BVB) has been SDax listed since June and is set to raise some 27 million Euros by issuing 6 million new shares. The new stock will be subscribed by the chemical group Evonik and will not be accounted in profits before the end of the 2013-14 financial year. This new capital raises the number of BVB shares on the market to 67 million, 70% of which are in free flow.
Since 2006, Evonik has been the major sponsor of the BVB soccer team; this subscription also makes it the second largest shareholder of the club, and the extension of its sponsorship contract means that it will continue as main sponsor until the 2024-25 season. Last financial year saw BVBha post a profit of some 53 million Euros – an increase of almost 55 percent on the previous year.
Ehlebracht: gearing down
Ehlebracht AG, the specialist in functional technology in the manufacture of plastics and furniture is considering moving from the General Standards to the Entry Standards on the Frankfurt stock exchange. According to management, this would save on the higher costs and expenses inherent in the stricter obligations of the regulated market. After the change, of segment, the company is expecting to delist on the floors of Düsseldorf and Berlin.