Merger of Vitesco Technologies Group AG with Schaeffler AG – Update
Note: This announcement, originally published on 30 September 2024, has been updated with new information on the entry of share fractions. Changes have been highlighted.
Clearstream Banking AG1 informs clients that for value date
3 October 2024
the shares of Vitesco Technologies Group AG (ISIN DE000VTSC017), or exchange entitlements for Schaeffler AG bearer shares (ISIN DE000SHA0019) respectively, will be at a ratio of five Vitesco Technologies Group AG (ISIN DE000VTSC017) shares removed and in return 57 shares Schaeffler AG holder proportional rights (ISIN DE000SHA1TR1) assigned. Conversion is done on the basis of the books as of 2 October 2024 after the evening RTS. Proportional shares must be exchanged into Schaeffler AG holder proportional rights (ISIN DE000SHA0019).
The following timeline applies:
Re-registration stop
From 26 September to 3 October 2024, no re-registration or initial registration or shareholder data changes for shares in Vitesco Technologies Group AG (ISIN DE000VTSC017) will be forwarded from CASCADE-RS to the share register.
Removal of registered shares from the books
With the value date 3 October 2024, positions will be removed by CBF from the unregistered positions (Freier Meldebestand). Any position transfers required will be automatically generated beforehand by CBF. It must be ensured that the unregistered positions remain unchanged thereafter.
Entry of proportional rights
The Schaeffler AG holder proportional rights (ISIN DE000SHA1TR1) shares will be transferred to the banks at a rate of 5:57 with the value date 3 October 2024. This means that banks will receive 57 Schaeffler AG holder proportional rights (ISIN DE000SHA1TR1) for five Vitesco Technologies Group AG (ISIN DE000VTSC017).
Exchange of proportional rights into full rights
The exchange of proportional rights into full rights and the corresponding re-exchange (for correction purposes only) are possible in the period from 3 October until 16 October 2024.
Please use the transaction KVEE WE (securities transfer) with the fractional rights indicator TR 3 or TR4 in CASCADE:
Indicator 3: Exchange of proportional rights DE000SHA1TR1 into full rights DE000SHA0019
Indicator 4: Exchange of full rights DE000SHA0019 into proportional rights DE000SHA1TR1
Entry of share fractions
if possible. Remaining share fractions can be submitted to the settlement agent of BNP Paribas Securities Services S.C.A., Frankfurt branch, Corporate Trust Operations until October 16, 2024.
Any necessary proportional rights settlement is to be carried out by the banks themselves. After 16 October 2024, remaining share fractions will be combined by CBF by means of a forced exchange of all proportional rights that can be combined into full rights and transferred to the ISIN of the full rights. After realisation by BNP Paribas Securities Services S.C.A., Frankfurt Branch, Corporate Trust Operations, the remaining proportional rights will be settled in cash via CBF at a later date.
Stock exchange trades, CCP and OTC transactions
Stock exchange and CCP transactions still pending on the evening of 2 October 2024 will be converted automatically, that is, the class of Vitesco Technologies Group AG (ISIN DE000VTSC017) is converted to Schaeffler AG holder proportional rights (ISIN DE000SHA1TR1), adjusting the nominal value at a rate of 5:57.
CASCADE OTC transactions for transaction types AA01 E and AA01 B will not be converted automatically.
Note for LIMA users
Due to the processing capacities in CASCADE-RS, submissions amounting to 10,000 re-registrations or more per transfer must be agreed in advance with Client Services. CBF reserves the right to reject file transfers that have not been agreed upon within the scope of overall coordination.
_____________________________
1. This announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.