EdisonReport can confirm that Siemens intends to propose to the Annual Shareholders’ Meeting a spinoff of 80.5 percent of OSRAM activities followed by OSRAM’s public listing. Siemens shareholders are to receive one OSRAM share for every ten Siemens shares. Siemens intends to remain a shareholder in OSRAM. Following the spinoff, Siemens AG will hold a 17% stake in OSRAM, and the Siemens Pension Trust will hold a 2.5 percent stake.
Implementation of the spinoff plans will require the approval of at least three-quarters of the Annual Shareholders’ Meeting of on January 23, 2013.