I thought the shorties still had to buy back, it's only 188.8 days back cover? rofl or it's bullish like $GME.....haha... (irony off)
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1Mes
@trader_6666?? The thing falls to zero. Shorties have made the cash of their lives ...
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@Charmin Hi Charmin, I'm quoting from ChatGPT:
"When a company like Porsche decides to take over another company like Varta, and this is done in collaboration with large investors and banks, it can have various legal implications, especially for small shareholders. Here are the key points to consider in such a scenario:
Takeover offer (public offer): In a takeover, the buyers (in this case Porsche and the investors involved) must make a takeover offer to the shareholders of the target company (Varta). As a rule, this offer must be made to all shareholders, including small shareholders, on the same terms. The price offered must be reasonable and is often based on the average share price over a certain period of time.
Mandatory offer: In many countries, there are legal provisions that require a mandatory offer to be made when a buyer exceeds a certain threshold of shareholding in a company (e.g. 30% of voting rights). This offer must also be addressed to all shareholders.
Squeeze-out (exclusion of minority shareholders): If the buyer holds a certain threshold of shares (e.g. 95% in Germany), it can carry out a so-called squeeze-out. The remaining minority shareholders are forced to sell their shares, often at a fixed price, which usually corresponds to the previous takeover bid. From a legal perspective, this is not an expropriation in the traditional sense, as the minority shareholders receive compensation that reflects the value of their shares. However, they lose ownership of the shares.
Delisting and withdrawal from the stock exchange: Following a successful takeover, the new parent company may decide to delist the shares from the stock exchange. This often happens after a squeeze-out. Small shareholders who have not yet sold their shares are then usually also compensated. After delisting, however, it can become more difficult for shareholders to sell their shares as the share is no longer traded on a regular stock exchange.
Rights of small shareholders: Small shareholders have legal protection mechanisms in these processes. For example, they can take legal action against the price offered if they believe it is not fair. In many countries, there are also special procedures to ensure that minority shareholders receive fair compensation.
In summary, small shareholders will not be expropriated in a takeover by a large company such as Porsche, but they could be forced to sell their shares if certain thresholds are exceeded. However, they are entitled to fair compensation for their shares."
"When a company like Porsche decides to take over another company like Varta, and this is done in collaboration with large investors and banks, it can have various legal implications, especially for small shareholders. Here are the key points to consider in such a scenario:
Takeover offer (public offer): In a takeover, the buyers (in this case Porsche and the investors involved) must make a takeover offer to the shareholders of the target company (Varta). As a rule, this offer must be made to all shareholders, including small shareholders, on the same terms. The price offered must be reasonable and is often based on the average share price over a certain period of time.
Mandatory offer: In many countries, there are legal provisions that require a mandatory offer to be made when a buyer exceeds a certain threshold of shareholding in a company (e.g. 30% of voting rights). This offer must also be addressed to all shareholders.
Squeeze-out (exclusion of minority shareholders): If the buyer holds a certain threshold of shares (e.g. 95% in Germany), it can carry out a so-called squeeze-out. The remaining minority shareholders are forced to sell their shares, often at a fixed price, which usually corresponds to the previous takeover bid. From a legal perspective, this is not an expropriation in the traditional sense, as the minority shareholders receive compensation that reflects the value of their shares. However, they lose ownership of the shares.
Delisting and withdrawal from the stock exchange: Following a successful takeover, the new parent company may decide to delist the shares from the stock exchange. This often happens after a squeeze-out. Small shareholders who have not yet sold their shares are then usually also compensated. After delisting, however, it can become more difficult for shareholders to sell their shares as the share is no longer traded on a regular stock exchange.
Rights of small shareholders: Small shareholders have legal protection mechanisms in these processes. For example, they can take legal action against the price offered if they believe it is not fair. In many countries, there are also special procedures to ensure that minority shareholders receive fair compensation.
In summary, small shareholders will not be expropriated in a takeover by a large company such as Porsche, but they could be forced to sell their shares if certain thresholds are exceeded. However, they are entitled to fair compensation for their shares."
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@Der_Dividenden_Monteur
".....The ailing battery group Varta has reached an agreement with financial creditors and INVESTORS? on a restructuring concept. Key aspects include a haircut and fresh money from major customers such as Porsche. All of this must now be documented and submitted to the court, a spokesperson said on Sunday. Prior to this, the committees of the parties involved must agree and the Federal Cartel Office must give the green light......".
Source: https://www.autohaus.de/nachrichten/autohersteller/varta-schuldenschnitt-und-porsche-einstieg-sollen-das-unternehmen-retten-3544729
I think small investors have not yet been included or voted on here. As most are panic selling due to the crash (short).
".....The ailing battery group Varta has reached an agreement with financial creditors and INVESTORS? on a restructuring concept. Key aspects include a haircut and fresh money from major customers such as Porsche. All of this must now be documented and submitted to the court, a spokesperson said on Sunday. Prior to this, the committees of the parties involved must agree and the Federal Cartel Office must give the green light......".
Source: https://www.autohaus.de/nachrichten/autohersteller/varta-schuldenschnitt-und-porsche-einstieg-sollen-das-unternehmen-retten-3544729
I think small investors have not yet been included or voted on here. As most are panic selling due to the crash (short).
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@trader_6666 None of these apply. In this case, it was via StaRug and small shareholders are not compensated.
The shares are worthless, as Varta no longer has any capital as of today.
The shares are worthless, as Varta no longer has any capital as of today.
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11
•@trader_6666 um, exactly what ixh wrote is in your report.
"Then the share capital of Varta AG is to be reduced to zero euros. The effect: the current shareholders will leave and the Group will lose its stock market listing."
And here is the statement from Ostermann.
"We have tried everything to get the small shareholders on board - but that is not legally possible in this situation," the Reuters agency quotes Varta CEO Michael Ostermann as saying. Due to the lack of audited annual financial statements, Varta could not issue a prospectus, which would be necessary for a broad capital increase.
"Then the share capital of Varta AG is to be reduced to zero euros. The effect: the current shareholders will leave and the Group will lose its stock market listing."
And here is the statement from Ostermann.
"We have tried everything to get the small shareholders on board - but that is not legally possible in this situation," the Reuters agency quotes Varta CEO Michael Ostermann as saying. Due to the lack of audited annual financial statements, Varta could not issue a prospectus, which would be necessary for a broad capital increase.
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@Der_Dividenden_Monteur Is this enough? i don't know. We live in a digital age. see: e.g.: $SBUX
current price range $VAR1: 0,84 - 2,70 €
current price range $VAR1: 0,84 - 2,70 €
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1Mes
@trader_6666 This shows that you can't believe everything the AI chews up.
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Hey @Charmin what does trust actually mean? The fact is that the share capital has been wiped out. i was just asking why we own a share at all. Technically only for monetary reasons.
"....da there are no audited annual financial statements. The Deutsche Schutzvereinigung für Wertpapierbesitz (DSW) and other shareholder representatives had already sharply criticized the procedure in advance: Shareholders would be expropriated "completely and without compensation"..."
"...Varta announced the StaRUG proceedings four weeks ago...,...Initially there were two concepts on the table...(off the table) "
https://www.msn.com/de-de/finanzen/top-stories/rettungspaket-bringt-varta-aktie-zum-absturz/ar-AA1p2ThW?ocid=msedgntp&pc=U531&cvid=2a979499a9e34bb08ae9d9c7c5e3cc36&ei=12
"....da there are no audited annual financial statements. The Deutsche Schutzvereinigung für Wertpapierbesitz (DSW) and other shareholder representatives had already sharply criticized the procedure in advance: Shareholders would be expropriated "completely and without compensation"..."
"...Varta announced the StaRUG proceedings four weeks ago...,...Initially there were two concepts on the table...(off the table) "
https://www.msn.com/de-de/finanzen/top-stories/rettungspaket-bringt-varta-aktie-zum-absturz/ar-AA1p2ThW?ocid=msedgntp&pc=U531&cvid=2a979499a9e34bb08ae9d9c7c5e3cc36&ei=12
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1Mes
@trader_6666 ChatGPT is probably not yet familiar with the StaRUG.
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@CaYaRo
The StaRUG proceedings relate to the "Act on the Stabilization and Restructuring Framework for Companies" (StaRUG), which came into force in Germany on 1 January 2021. This law aims to enable companies that have run into financial difficulties to restructure out of court at an early stage in order to avert insolvency.
Here are the most important aspects of the StaRUG procedure:
1. aim of the StaRUG: The law creates a legal framework that enables companies to take early restructuring measures in a financial crisis without having to initiate insolvency proceedings immediately.
2. restructuring plan: The core of the StaRUG procedure is the restructuring plan, which is negotiated between the company and its creditors. This plan can include various measures, such as debt waivers, deferrals or conversion of claims into equity.
3. court support: Although the proceedings are primarily out of court, the company can ask the court for support, especially when it comes to voting on the restructuring plan or if certain creditors do not cooperate. For example, the court may appoint a restructuring officer.
4. protective measures: During the negotiations on the restructuring plan, the company can apply for protective measures from the court, such as an enforcement protection order, which protects it from foreclosures.
5. obligations of the company: The company is obliged to make the restructuring process transparent and to keep its creditors fully informed. It must also be able to demonstrate a positive going concern prognosis.
6. creditor rights: The StaRUG strengthens the rights of creditors by giving them more influence in the restructuring process, but also ensures the protection of all creditors.
The StaRUG procedure thus offers an opportunity to react to economic problems at an early stage and thus avoid insolvency, which can be advantageous for both the company and its creditors. Details can be found in the previous msn quelle.
The StaRUG proceedings relate to the "Act on the Stabilization and Restructuring Framework for Companies" (StaRUG), which came into force in Germany on 1 January 2021. This law aims to enable companies that have run into financial difficulties to restructure out of court at an early stage in order to avert insolvency.
Here are the most important aspects of the StaRUG procedure:
1. aim of the StaRUG: The law creates a legal framework that enables companies to take early restructuring measures in a financial crisis without having to initiate insolvency proceedings immediately.
2. restructuring plan: The core of the StaRUG procedure is the restructuring plan, which is negotiated between the company and its creditors. This plan can include various measures, such as debt waivers, deferrals or conversion of claims into equity.
3. court support: Although the proceedings are primarily out of court, the company can ask the court for support, especially when it comes to voting on the restructuring plan or if certain creditors do not cooperate. For example, the court may appoint a restructuring officer.
4. protective measures: During the negotiations on the restructuring plan, the company can apply for protective measures from the court, such as an enforcement protection order, which protects it from foreclosures.
5. obligations of the company: The company is obliged to make the restructuring process transparent and to keep its creditors fully informed. It must also be able to demonstrate a positive going concern prognosis.
6. creditor rights: The StaRUG strengthens the rights of creditors by giving them more influence in the restructuring process, but also ensures the protection of all creditors.
The StaRUG procedure thus offers an opportunity to react to economic problems at an early stage and thus avoid insolvency, which can be advantageous for both the company and its creditors. Details can be found in the previous msn quelle.
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