Tuesday, December 22, 2009


Volkswagen preferred shares replace ordinary shares in DAX


Wolfsburg, December 18, 2009 – Volkswagen Aktiengesellschaft preferred shares will replace the Company’s ordinary shares in the DAX stock index effective December 23, 2009. This was decided today (Friday) by Deutsche Börse due to the changed shareholder structure for ordinary shares. The decision followed the announcement by Qatar Holding that it had increased its holding in Volkswagen ordinary shares from 6.8 to 17 percent. As a result, the free float for this share class declined to less than ten percent. Pursuant to the guidelines of Deutsche Börse, this means that Volkswagen ordinary shares drop out of the DAX.


Effective December 23, 2009, Volkswagen AG will be represented in the DAX by its preferred shares instead of its ordinary shares, thus continuing the Company’s unbroken listing in Germany’s most important stock index since it was first included in 1988. The Volkswagen Aktiengesellschaft plans to issue new preferred shares under a capital increase during the first half of 2010. This will give the Company the financial flexibility needed to grow the integrated automotive group and also ensure appropriate liquidity, a healthy financing structure and a very good rating compared with the industry as a whole once all transaction steps in the merger with Porsche have been completed.

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