MAN Shares

From 2014: Annual cash compensation payments

Volkswagen Truck & Bus AG (soon transforming into TRATON AG) as the controlling company and MAN SE as the controlled company have entered into a domination and profit and loss transfer agreement (DPLTA) which was concluded on April 26, 2013, and became effective on July 16, 2013, when it was entered in MAN SE’s commercial register.

As a result of the DPLTA, MAN SE will not distribute any further dividends, starting in fiscal 2014. Instead, Volkswagen Truck & Bus AG agrees to make annual cash compensation payments of €3.07 per common or preferred share for the full fiscal year as reasonable compensation to MAN SE free float shareholders for the duration of the DPLTA, starting in fiscal 2014.

In its resolution of June 26, 2018 (as amended by resolution of July 30, 2018), the Higher Regional Court of Munich (Oberlandesgericht München) released a final and binding decision regarding the judicial appraisal proceedings (Spruchverfahren) relating to the DPLTA concluded on April 26, 2013 between Volkswagen Truck & Bus AG and MAN SE.

The recurring compensation payment (Ausgleichszahlung) has been increased from €3.07 (net of corporate income tax and solidarity surcharge) to €5.10 (net of corporate income tax and solidarity surcharge) for each common and each preferred share of MAN SE. This amount is derived from a gross recurring compensation payment of €5.47 for each common and each preferred share of MAN SE as determined by court.

The guaranteed dividend paid in respect of the fiscal year 2013 remains unchanged at €3.07 (net of corporate income tax and solidarity surcharge) for each common and each preferred share of MAN SE.

On August 21, 2018 the Executive Board of Volkswagen Truck & Bus AG has decided to terminate the DPLTA between Volkswagen Truck & Bus AG and MAN SE concluded on April 26, 2013 according to section 304 para 4 German Stock Cooperation Act (AktG) with effect as of 1 January 2019, 0:00 a.m.

Further information can be found on the page of the DPLTA