Brief: Mangata Plans To Dispose Its 51% Stake In Techmadex

Mangata Holding SA

24/04/2018 11:06

April 24 (Reuters) - MANGATA HOLDING SA  MGTP.WA  (MANGATA), TECHMADEX  TDX.WA :
    * MANGATA PLANS TO SELL ITS WHOLE 51.02% STAKE OF TECHMADEX
    * SEVERAL YEARS OF COOPERATION BETWEEN MANGATA AND TECHMADEX HAVE NOT BROUGHT ASSUMED
RESULTS,
NEITHER FINANCIAL ONES NOR SYNERGY EFFECTS WITHIN GROUP, THE COMPANY SAYS
    * IT SAYS THAT BUSINESS ACTIVITIES AND DEVELOPMENT PLANS OF BOTH COMPANIES HEAD IN DIFFERENT
DIRECTIONS, SO THIS INVESTMENT IS NOT JUSTIFIED ANY LONGER
    * ON MONDAY MANGATA FILED PROPOSITIONS OF RESOLUTIONS THAT TECHMADEX BUYS BACK ITS OWN
SHARES FROM
MANGATA 
    * FIRST RESOLUTION PROPOSES THAT NO MORE THAN 303,165 OF TECHMADEX OWN SHARES WILL BE BOUGHT
BACK
IN ORDER TO OFFER THEM TO TECHMADEX EMPLOYEES
    * SECOND RESOLUTION PROPOSES THAT NO MORE THAN 515,827 OF TECHMADEX SHARES WILL BE BOUGHT
BACK BY
TECHMADEX IN ORDER TO REDEEM THEM
    * TECHMADEX SHAREHOLDERS TO VOTE ON THE PROPOSALS ON MAY 15

Source text for Eikon:  urn:newsml:reuters.com:*:nEM6FzNw3a,  urn:newsml:reuters.com:*:nEM22FwBqa
Further companies coverage:  MGTP.WA ,  TDX.WA 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))