The Supervisory Board and Managing Board of Siemens AG intend to propose to the Annual Shareholders' Meeting a spinoff of 80.5 percent of Osram activities followed by Osram's public listing. In course of this transaction, 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, accordingly, hold a 17 percent 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 Siemens AG. The Annual Shareholders' Meeting will take place on January 23, 2013.