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asknet Solutions AG Refinances Short-Term Bond into Long Term Lower Cost Expanded Bond Program Paving the Way for a Potential Material Acquisition

·3-min read

asknet Solutions AG / Key word(s): Bond/Investment
asknet Solutions AG Refinances Short-Term Bond into Long Term Lower Cost Expanded Bond Program Paving the Way for a Potential Material Acquisition

06-Oct-2020 / 21:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Insider Information pursuant to Article 17 of the Market Abuse Regulation (MAR)

asknet Solutions AG Refinances Short-Term Bond into Long Term Lower Cost Expanded Bond Program Paving the Way for a Potential Material Acquisition

October 06, 2020, Karlsruhe - asknet Solutions AG (Ticker symbol: ASKN, ISIN: DE000A2E3707, WKN: A2E370) has placed a bond with an aggregate par value of EUR 9.0 million and an interest rate of 6.0% with semi-annual interest payments and a three-year term (ISIN: DE000A3H2VS8, WKN: A3H2VS). Of this nominal amount, EUR 8.0 million is attributable to the bondholders of the EUR 8.0 million 10.0% interest bond (ISIN: DE000A2YN140, WKN: A2YN14) placed by the company in April 2020 and maturing in April 2021, who have made full use of a corresponding exchange offer. The remaining EUR 1.0 million of the nominal amount were placed with institutional investors in a private placement. The proceeds of the issue can be used without restrictions for corporate purposes and include the financing of capital expenditures specifically related to the Academics business unit. A stock exchange listing for the new bond is currently not planned. The annual interest cost of the bonds outstanding had been reduced from EUR 0.80 million to EUR 0.54 million and all of the asknet Solutions AG bonds are now maturing in 2023 instead of 2021.

Following the placement of the original EUR 8 million bond, the capital increase and the very profitable sale of a Swiss-French subsidiary Nexway Group AG for cash, all completed in the Q2 2020, asknet Solutions AG had raised over EUR 13 million to finance further expansion of the group with a specific focus on the global education and niche e-commerce markets. This bond refinancing announced today provides asknet Solutions AG with the necessary time and space to complete a potential significant acquisition in 2021, integrate it with the existing operations and improve its operating cash flows to achieve bond repayment in the fall of 2023.

asknet Solutions AG is going to publish its 1H 2020 financial results on the 28th of October 2020 and will release the strategic guidelines for its acquisition strategy at the same time.

Contact
Magda Gajny
+49(0)721/96458-6116
investors@asknet.com
https://asknet-solutions.com/

06-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

asknet Solutions AG

Vincenz-Priessnitz-Str. 3

76131 Karlsruhe

Germany

Phone:

+49 (0)721 / 964 58-0

Fax:

+49 (0)721 / 964 58-99

E-mail:

investors@asknet.com

Internet:

asknet-solutions.com

ISIN:

DE000A2E3707

WKN:

A2E370

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart

EQS News ID:

1139299


 

End of Announcement

DGAP News Service

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