Kaba shareholders give green light for merger
At an Extraordinary General Meeting held on May 22, the shareholders of Kaba Holding AG approved all proposals by a large majority. This means that the key conditions for the planned merger with the Dorma Group have been met.
The Extraordinary General Meeting (AGM) was convened in order to set the key requirements for the April 30, 2015 announced merger with the Dorma Group in Germany. Thanks to complementary products and services, extended coverage of the value chain and a stronger geographical presence, the merger is expected to create a global top 3 company for security and access solutions. The listed Kaba Holding respectively in future dorma+kaba Holding, based in Rümlang, will hold a controlling majority of 52.2% in the combined business and will be responsible for the strategic, operational and financial management of the combined group, Kaba underlines.
The 247 shareholders present at the Extraordinary General Meeting directly or indirectly represented a total of 2,358,548 voting shares. According to the notification, this corresponds to 61.8% of the total share capital. In the votes taken at the seven agenda items the approval ranged from 95% to over 99%, according to reports.
