Demag Cranes AG: Entry into a domination and profit and loss transfer agreement

Demag Cranes AG  / Key word(s): Miscellaneous

30.01.2012 18:11

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Demag Cranes AG as controlled company and Terex Germany GmbH & Co. KG, an
indirect wholly-owned subsidiary of Terex Corporation, Westport, USA, as
controlling company entered into a domination and profit and loss transfer
agreement today. The Supervisory Board of Demag Cranes AG and the partners'
meeting of Terex Germany GmbH & Co. KG approved the entry into the
agreement.

The agreement provides for an annual guaranteed dividend payment to the
outside shareholders of Demag Cranes AG pursuant to sec. 304 of the German
Stock Corporation Act (Aktiengesetz - 'AktG') in the gross amount of EUR
3.33 (EUR 3.04 net) per non-par share and cash compensation pursuant to
sec. 305 AktG in the amount of EUR 45.52 per non-par share. The payment
obligations by Terex Germany GmbH & Co. KG under the domination and profit
and loss transfer agreement are secured by a comfort letter issued by Terex
Corporation.

The domination and profit and loss transfer agreement still requires
approval by the Annual General Meeting of Demag Cranes AG which is
scheduled to be held on March 16, 2012.

Düsseldorf, January 30, 2012 

Demag Cranes AG

The Management Board


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Language:     English
Company:      Demag Cranes AG
              Forststraße 16
              40597 Düsseldorf
              Germany
Phone:        +49 (0)211 7102 -1218
Fax:          +49 (0)211 7102 -1215
E-mail:       ir@demagcranes-ag.com
Internet:     www.demagcranes-ag.com
ISIN:         DE000DCAG010
WKN:          DCAG01
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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