11880 Solutions AG / Key word(s): Capital Increase
Essen, 10 September 2020 - 11880 Solutions AG (WKN 511880) today successfully implemented the capital increase from authorised capital in return for cash and non-cash contributions adopted on 26 August 2020. Under the subscription and over-subscription offer and the subsequent private placement, a total of 3,893,000 new no-par value bearer shares of the Company, each with a notional value of EUR 1.00 and carrying dividend rights from 1 January 2020 ("New Shares") were acquired by investors at a price of EUR 1.25 per New Share. The subscription offer was significantly oversubscribed. The main shareholder united vertical media GmbH exercised all of its pre-emption rights and made its contribution for 2,707,200 New Shares as a non-cash contribution by contributing Cologne-based Fairrank GmbH and by making an additional cash contribution for 106,547 New Shares.
Issuing the New Shares increases the share capital of 11880 Solutions AG by EUR 3,893,000.00 from EUR 21,022,200.00 to EUR 24,915,200.00. The Company assumes that the implementation of the capital increase will be entered in the Commercial Register by 21 September 2020. The New Shares are expected to be admitted to trading in the Prime Standard segment of the Frankfurt Stock Exchange on or shortly after 28 September 2020 and will subsequently be delivered to the shareholders under the master ISIN DE0005118806.
The acquisition of online marketing company Fairrank enables 11880 Solutions AG to complement its strategic business model and accelerate its growth. The cash capital increase will provide the Company with net issue proceeds of approximately EUR 1,4 mio., which will be used to integrate Fairrank and expand its market position.
11880 Solutions AG
Tel.: 0201 / 8099-188
|Company:||11880 Solutions AG|
|ISIN:||DE0005118806, DE0005118806, ,|
|Indices:||Prime All Share|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1130099|
|End of Announcement||DGAP News Service|