The domination and profit and loss transfer agreement (DPLTA) between TRATON SE (formerly Volkswagen Truck & Bus GmbH, Volkswagen Truck & Bus AG, TRATON AG) as the controlling company and MAN SE as the controlled company, which was terminated with effect as of midnight (00:00) on January 1, 2019, was still in force for fiscal 2018.
As a result of the DPLTA, MAN SE itself did not distribute dividends. Instead, MAN SE shareholders received a cash compensation payment from TRATON SE for the 2018 fiscal year. The cash compensation payment amounted to €5.10 (net of corporate income tax and solidarity surcharge) per MAN common or preferred share. This amount was derived from a gross cash compensation payment of €5.47 per MAN common or preferred share as determined by court.
The cash compensation payment was due on the first bank working day following the 2019 Annual General Meeting. Only MAN shareholders in possession of MAN SE shares at the time at which the payment was due received compensation. If MAN shareholders chose to exercise their right to tender their MAN shares by March 4, 2019, as a result of the termination of the DPLTA, they were then no longer entitled to receive the cash compensation payment for fiscal 2018.