Brief: SGT German Private Equity Agrees On Postponement Of Share Transfer Claim Of Up To 25.5 Mln SGF Shares

German Tech Holding GmbH & Co. KGaA

18/01/2022 09:46

Jan 18 (Reuters) - SGT GERMAN PRIVATE EQUITY GMBH & CO KGAA
 SGFn.DE :
    * HAS AGREED WITH ITS MAJORITY SHAREHOLDER, SGT CAPITAL LLC
(SGTLLC), ON A POSTPONEMENT OF DEADLINE FOR EXERCISING AND
CALCULATING ITS SHARE TRANSFER CLAIM OF UP TO 25.5 MILLION SGF
SHARES
    * IN RETURN, SGF AS PARENT COMPANY OF SGTPTE WILL RECEIVE A
COMPENSATION FROM SGTLLC FOR DELAY-RELATED LACK OF EARNINGS OF
SGTPTE IN FINANCIAL YEARS 2020 AND 2021
    * THIS INCREASES SGF'S PROFIT ESTIMATION FOR FINANCIAL YEAR
2021
FROM AROUND 5 MILLION EUR TO SOME 11 MILLION EUR (IFRS
CONSOLIDATED)
    * THIS CORRESPONDS TO 0.20 EUR PER SHARE (RESPECTIVELY MORE
THAN
1.00 EUR PER SHARE BASED ON AVERAGE NUMBER OF SHARES ACCORDING
TO IFRS)
    * FOR FULL-YEAR 2022, SGTPTE HAD PLANNED A PROFIT OF 11.3
MILLION
EUR, OF WHICH SOME 0.9 MILLION EUR SHOULD BE GENERATED PER MONTH
    * IN ADDITION, SGTLLC AGREES TO ALSO COMPENSATE SGF FOR ANY
LOSS
OF SGTPTE'S EARNINGS FOR PERIOD OF DEADLINE POSTPONEMENT (FROM
31.12.2021 UNTIL ABOVEMENTIONED NEW EFFECTIVE DATE) BY
TRANSFERRING ADDITIONAL SGF SHARES AT SAME PRICE
    * FOR 2021, SGTPTE IS EXPECTING A NET PROFIT OF ABOUT 6.3
MILLION
EUR, SO THAT A DELAY-RELATED LACK OF EARNINGS OF JUST UNDER 6.5
MILLION EUR IS TO BE EXPECTED OVER BOTH YEARS
    * TO COMPENSATE FOR THIS, SGTLLC WILL TRANSFER AROUND 2.18
MILLION
SGF SHARES TO SGF AT ISSUE PRICE OF CAPITAL INCREASE IN 2020 OF
2.97 EUR PER SHARE
    * HENCE, AFOREMENTIONED CONDITIONAL SHARE RETURN CLAIM
DECREASES
TO AROUND 23.32 MILLION SGF SHARES

Source text for Eikon:  ID:nEQ1pVSgQa 
Further company coverage:  SGFn.DE 

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