Domination and Profit and Loss Transfer Agreement Between ADVA Optical Networking SE and ADTRAN Holdings, Inc., Has Been Registered in the Commercial Register
18 January 2023 - 09:30AM
Business Wire
The domination and profit and loss transfer agreement (the
“DPLTA”) between ADVA Optical Networking SE (“ADVA”) as dependent
company and ADTRAN Holdings, Inc. (NASDAQ: ADTN and FSE: QH9)
(“ADTRAN Holdings”) as dominating company that was executed on
December 1, 2022 and has been registered in the commercial register
of the local court of Jena on January 16, 2023 and has thus become
effective. The extraordinary general meeting of ADVA had granted
approval to the conclusion of the DPLTA on November 30, 2022. The
effectiveness of the DPLTA enables ADTRAN Holdings to further
integrate ADVA under German law, including the ability to issue
binding operational instructions to the management board of
ADVA.
The Company’s Chairman and Chief Executive Officer Tom Stanton
stated, “I am excited to share that the DPLTA has been registered.
This was the final administrative step in operating as one combined
company. I would like to take the opportunity to thank all of our
employees for the continued support.”
Further details of the cash compensation offered to outside ADVA
shareholders per ADVA share in connection with the DPLTA will be
published shortly by ADTRAN Holdings in the German Federal Gazette
(Bundesanzeiger).
About ADTRAN Holdings, Inc.
ADTRAN Holdings, Inc. is the parent company of ADTRAN, Inc., a
wholly owned subsidiary and a leading global provider of open,
disaggregated networking and communications solutions. ADTRAN
Holdings is also the largest shareholder of ADVA, a European
headquartered network innovator that empowers operators to deliver
the cloud and mobile services that are vital to today’s
society.
Cautionary Note Regarding Forward-Looking Statements
Certain statements, including those regarding the integration of
ADTRAN Holdings and the Settlement Offer, contained in this press
release regarding matters that are not historical facts are
forward-looking statements (as defined in the Private Securities
Litigation Reform Act of 1995). They are generally identified by
the use of words such as “believe,” “expect,” “intend,” “estimate,”
“anticipate,” “will,” “may,” “could” and similar expressions, which
forward-looking statements reflect management’s best judgment based
on factors currently known. However, these statements involve risks
and uncertainties, including the risks discussed throughout ADTRAN
Holdings’ periodic filings with the U.S. Securities and Exchange
Commission available at www.sec.gov. These risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements included in this filing.
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version on businesswire.com: https://www.businesswire.com/news/home/20230117006128/en/
Investor Services/Assistance: Rhonda Lambert/256-963-7450
investor@ADTRAN.com
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