DGAP-Ad-hoc: SPORTTOTAL AG / Key word(s): Capital Increase
SPORTTOTAL AG decides Capital Increase
Cologne, September 10, 2018. With the approval of the Supervisory Board, the Management Board of SPORTTOTAL AG has today decided on a capital increase from Authorized Capital, to the exclusion of shareholder subscription rights.
The company's capital stock is to be raised by up to EUR 2,142,052.00, from currently EUR 21,420,529.00 to up to EUR 23,562,581.00 against cash contribution through issuing up to 2,142,052 new no-par value bearer stocks representing a pro rata amount in the capital stock of EUR 1.00 per stock ("New Shares"). The New Shares are eligible for profit participation from January 1, 2018 onward.
The New Shares will be offered to qualified institutional investors, both in Germany and in other EU countries, in the context of a private placement by way of accelerated bookbuilding.
Private placement will commence directly following this announcement. The final number of the shares to be issued and the placement price will be determined by the Management Board and then communicated without delay.
SPORTTOTAL AG intends to use the proceeds from the capital increase to finance the further expansion of its subsidiary sporttotal.tv gmbh.
10-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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722155 10-Sep-2018 CET/CEST