Brief: asknet AG: 5EL SA to hold 51.37% of shares of asknet AG

Youngtimers AG

09/11/2017 07:47

Nov 9 (Reuters) - ASKNET AG  A5ABk.DE : 
    * SAID ON WEDNESDAY SIGNS INVESTMENT AGREEMENT WITH 5EL SA 
 FEL.S  
    * AS PART OF AGREEMENT, ASKNET CONDUCTED CASH CAPITAL 
INCREASE BY 
ISSUING 50,942 NEW SHARES AT PRICE OF EUR 9.20/SHR 
    * CAPITAL INCREASE EXCLUSIVELY SUBSCRIPTED BY 5EL SA 
    * TOTAL NET CASH INFLOW FOR ASKNET AMOUNTS TO EUR 468,666.40 
    * SIMULTANEOUSLY WITH CAPITAL INCREASE, 5EL SA ENTERED INTO 
SHARE 
PURCHASE AGREEMENT WITH GROUP OF SHAREHOLDERS RESULTING IN 
ACQUIRING FURTHER 236,913 SHARES OF COMPANY AT PRICE OF EUR 
8.33/SHR 
    * AS A RESULT OF TWO AGREEMENTS, 5EL SA TO HOLD 51.37% OF 
SHARES 
OF ASKNET AG 
    * AS PART OF TRANSACTION THE CURRENT MEMBERS OF THE 
SUPERVISORY 
BOARD OF COMPANY WILL RESIGN, EXCEPT FOR JÖRN MATUSZEWSKI, TO 
NOW SERVE AS A SUPERVISORY BOARD MEMBER 
    * AGREED TO CREATE POSITION OF CFO IN ADDITION TO TOBIAS 
KAULFUSS, 
THE ACTING SOLE MEMBER OF THE MANAGEMENT BOARD, AND TO FILL THIS 
POSITION PROMPTLY 
    * FURTHERMORE, ASKNET AG INTENDS TO ISSUE A CONVERTIBLE BOND 
WITH 
A NOMINAL AMOUNT OF AT LEAST EUR 1,500,000.00 
    * ISSUE SHALL NOT TAKE PLACE BEFORE THE AVAILABILITY OF THE 
AUDITED 2017 FINANCIAL STATEMENTS OF THE COMPANY 
    * 5EL SHALL UNDERWRITE THE CONVERTIBLE BONDS TO THE EXTENT 
THAT 
OTHER SHAREHOLDERS OF ASKNET AG WILL NOT EXERCISE THEIR 
MANDATORY SUBSCRIPTION RIGHTS 
 
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEQ34fHwza 
     
 Further company coverage:  A5ABk.DE   
    
 
 
 (Gdynia Newsroom) 
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