DGAP-Ad-hoc: Medios AG / Key word(s): Capital Increase/Forecast
Medios AG plans capital increase in kind for the expansion of a business segment and announces annual forecast for 2018
Berlin, 12 March 2018 - Medios AG ('Company') is planning to grow its patient-specific preparations segment through the expansion of the manufacturing facilities for non-cytostatic products. For this purpose, the company intends to take over substantial operating units of BerlinApotheke Schneider & Oleski oHG ('BerlinApotheke'). The acquisition will be carried out without the expenditure of cash by means of a capital increase in kind in exchange for new shares issued to the contributing party, Mr Manfred Schneider, CEO of Medios AG and co-owner of BerlinApotheke.
A total of 900,000 new shares are to be issued in exchange for the contribution of the operating units. The value of the operating units that form the basis for this was confirmed to the Company by an auditor that it mandated and, in addition, must still be confirmed by a court-appointed auditor of contributions in kind.
In the short term, the Management Board intends to conclude a contract for the contribution of the operating units and, with the approval of the Supervisory Board by using the existing authorised capital 2017/I, to increase the Company's share capital excluding shareholders' subscription rights by 900,000.00 euros from 13,664,019.00 euros to 14,564,019.00 euros through the issuance of 900,000 new bearer shares at an issue price of 1.00 euro each, and to allow Mr Schneider to subscribe to the new bearer shares. The new shares shall be introduced to trading on the regulated market of the Frankfurt Stock Exchange (General Standard).
The required approval of the Supervisory Board and the relevant authorities is expected over the coming weeks. The Management Board of Medios AG expects the acquired operating units to begin production in June 2018 and, in consideration of these developments, forecasts Group sales of around 320 million euros (IFRS) and Group earnings before taxes (EBT*) totalling around 11 million euros (IFRS) for the 2018 financial year. This represents growth of 26 per cent and 37 per cent respectively compared to the preliminary figures already published for the 2017 financial year totalling 253.0 million euros (IFRS) and 8.0 million euros (IFRS) respectively.
Planned EBT for the 2018 financial year do not include the non-cash special effect from the share option plan (SOP), which was introduced based on the decision made by the 2017 annual general meeting and which serves the participation and incentivisation of executives. According to preliminary calculations, the special effect results in extraordinary expenses of some 1.25 million euros and is therefore approximately at the same level of the non-cash special effect from the SOP in the 2017 financial year.
Matthias Gärtner, CFO Medios AG
* EBT is defined as net earnings before income taxes.
Information and Explanation of the Issuer to this News:
About Medios AG
Medios AG is Germany's first listed Specialty Pharma company. The share (WKN: A1MMCC, ISIN: DE000A1MMCC8) is listed in the Regulated Market of the Frankfurt Stock Exchange (General Standard) and Hamburg-Hannover Stock Exchange.
12-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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662575 12-March-2018 CET/CEST