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Rubean and Cyclebit Group sign convertible loan agreement

·2-min read

DGAP-News: Rubean AG / Key word(s): Corporate Action/Alliance
Rubean and Cyclebit Group sign convertible loan agreement
27.04.2022 / 12:31
The issuer is solely responsible for the content of this announcement.


Corporate News


Rubean and Cyclebit Group sign convertible loan agreement

- Rubean to receive 3.4 million euros in funding


Munich, 27 April 2022: Rubean AG, Munich, (ISIN: DE0005120802, WKN: 512080) and CYCLEBIT GROUP LTD ("CYCLEBIT"), Lemesos/Cyprus, a fin-tech company in the payment sector, today signed a binding agreement on the subscription of a convertible loan by CYCLEBIT. This will provide Rubean with funds in the amount of EUR 3.4 million, while CYCLEBIT will receive the right to convert the loan receivable into 271,750 Rubean shares. If not converted, the loan runs for two years and bears interest at 3.0 per cent per annum. On 18 March 2022, the Extraordinary General Meeting of Rubean approved the convertible loan and the required conditional capital in the amount of ten per cent of the currently existing share capital, corresponding to the 271,750 shares.

The two companies are currently examining the possibility of further cooperation.

About CYCLEBIT GROUP: Cyclebit Group, founded in 2012, is a global payments and SaaS provider. Its core products include card acquiring, point-of-sale (POS) services and market-place solutions. The company recently launched crypto and SoftPOS offerings, both billion-dollar industries in which the company is already a leader in select markets. In 2019, the company broke even and is currently growing profitably at an exponential rate.

About Rubean: Rubean AG is a 20-year established software developer in the financial sector. The company is now growing with the development of innovative mobile payment solutions. These include the mobile point-of-sale terminal solution PhonePOS, which was developed in cooperation with CCV. Rubean is listed on the m:access of the Munich Stock Exchange as well as on the Frankfurt, Berlin and Düsseldorf OTC markets and on Tradegate and Quotrix.

For queries, please contact:

Anna Sammer german communications AG
Rubean AG Jörg Bretschneider
Kistlerhofstr. 168, D-81379 München Milchstraße 6 B, D-20148 Hamburg
+49 89 357560 +49 40/46 88 33 0, Fax +49 40/46 88 33 40
anna.sammer@rubean.com presse@german-communications.com


27.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Rubean AG

Kistlerhofstr. 168

81379 München

Germany

Phone:

089-357560

Fax:

089-35756111

E-mail:

info@rubean.com

Internet:

www.rubean.com

ISIN:

DE0005120802

WKN:

512080

Listed:

Regulated Unofficial Market in Munich

EQS News ID:

1336981


 

End of News

DGAP News Service

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