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AD-HOC: SPORTTOTAL AG decides Capital Increase


Cologne, January 24, 2019. With the approval of the Supervisory Board, the Management Board of SPORTTOTAL AG has today decided on a capital increase with shareholder subscription rights from Authorized Capital. The company’s capital stock is to be raised by up to EUR 2,570,463, from currently EUR 23,562,581 to up to EUR 26,133,044 through issuing up to 2,570,463 new no-par value bearer stocks representing a pro rata amount in the capital stock of EUR 1.00 per stock. The new shares qualify for profit participation from January 1, 2018 onward. The subscription price was fixed at EUR 1.20 per new stock by the Management Board, with the approval of the Supervisory Board.

The new stocks will be offered to the shareholders by way of indirect subscription rights at a subscription price in a subscription ratio of 10:1 (i.e. ten old stocks confer entitlement to one new stock from the capital increase). No trading of subscription rights is to take place.

The subscription offer is scheduled for publication in the German Federal Gazette on January 28, 2019. The subscription period is expected to run from January 29, 2019 (0:00 CET) and end on February 12, 2019 (24:00 CET). Based on exemptions under the German Securities Prospectus Law, no securities prospectus is to be drawn up for this capital increase.

QUIRIN PRIVATBANK AG will accompany the capital increase and offer the new stocks to the shareholders for subscription in accordance with the subscription offer. Any additional subscription by current shareholders will be subject to the company’s allotment proviso. In the process of allotment, current shareholders will be taken into account in observance of the principle of equal treatment.

Dr. Michael Kern as Chairman of the Supervisory Board and Jens Reidel as a member of the Supervisory Board of SPORTTOTAL AG have announced their intention to register for a potential additional subscription.

In addition, a strategic investor has committed to take over all remaining new stocks from the capital increase that were not subscribed in the context of the subscription offer of current shareholders.

SPORTTOTAL AG intends to use the proceeds from this capital increase to fund participations, such as VISPEX, as well as to finance the working capital of the corporate group, including in particular the prefinancing of racing track projects.

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