DGAP-News: German Startups Group GmbH & Co. KGaA / Key word(s): Half Year Results/Agreement
+++ Press release +++
German Startups Group publishes interim report and
- Neutral result in the first half of 2020
- First private equity transaction and raise of further capital commitments by its future subsidiary to be expected soon
- Renaming of the German Startups Group in SGT German Private Equity and relocation to Frankfurt/Main are imminent
- Share buyback tender offer at a stock price of 2.00 euros is running at least until 13 October 2020
The German Startups Group expects its future 100% subsidiary SGT Capital Pte. Ltd., a global alternative investment and private equity asset manager, headquartered in Singapore, to accomplish the first private equity transaction for its private equity fund investors within the next weeks. This involves the acquisition of all shares of a European mid-sized company holding a global market leader position in its product category. In the course of the transaction in a three-digit million size SGT Capital also expects to achieve further capital commitments. Being a so-called asset manager the business model of SGT Capital is to earn management fees through such long-term private equity investments, typically about 2% p.a. of the equity invested through it.
The public share buyback tender offer of the German Startups Group to buy back at least 5% of the outstanding shares at a stock price of 2.00 euros is running at least until 13 October 2020, 12:00 pm (CET). Its 1,130,400 treasury shares, the majority of which were acquired in 2019, have already been redeemed and removed from the Commercial Register. In case more than 542,700 shares are tendered for buyback as part of the offer, the acceptance declarations will be considered proportionally, i.e. in the ratio of the 542,700 shares to the aggregate number of shares tendered for buyback. Furthermore, the company reserves the right to increase the number of shares to be bought back for that case.
06.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
German Startups Group GmbH & Co. KGaA
Platz der Luftbrücke 4-6
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange
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