AD-HOC: SPORTTOTAL AG successfully completes capital increase
Cologne, 14 February 2019 SPORTTOTAL AG has today successfully placed the entire increase in its share capital adopted on 24 January 2019 by up to 2,570,463 euros from the company’s Approved Capital. A good 70 percent of the New Shares were taken by shareholders, while a strategic investor subscribed for 30 percent. The gross proceeds of the issue stand at 3.08 million euros. SPORTTOTAL AG is planning to use the proceeds from this capital increase to fund investments in companies such as the Virtual Sponsoring Exchange (VISPEX), an online marketplace for sports rights, as well as to finance the Group’s working capital, in particular the advance funding of race track projects.
The company’s current share capital of 23,562,581 euros will therefore be increased by 2,570,463 euros by issuing 2,570,463 new bearer shares with a notional value of 1.00 euro per share (“New Shares”) bringing the total to 26,133,044 euros. The New Shares will be eligible for dividend from 01 January 2018. The New Shares were offered to shareholders by way of an indirect subscription right for the subscription price of 1.20 euros per share at a subscription ratio of 10:1.
As part of the subscription offer, existing shareholders subscribed for a total of 1,814,106 New Shares (including additional requests) with a total of 487,562 New Shares accounted for by Dr. Michael Kern and related party (Chairman of the Supervisory Board of SPORTTOTAL AG), Jens Reidel (member of the Supervisory Board of SPORTTOTAL AG) and Peter Lauterbach (Chairman of the Management Board). The remaining 756,357 New Shares were subscribed for by a strategic investor.
The capital increase is still to be recorded in the Commercial Register. The Management Board and Supervisory Board will apply for its registration in the near future. The 2,570,463 New Shares will probably be included for trading on the Frankfurt Exchange in calendar week 9, 2019.
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
Tel.: +49 (0) 2154-8122-16