DGAP-Adhoc SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity - Elimination of the convertible bond of 257 million EUR resolved in connection with the merger, for the benefit of its shareholders

Nachrichtenquelle: EQS Group AG
27.10.2020, 12:36  |  123   |   |   

DGAP-Ad-hoc: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Change in Forecast/Mergers & Acquisitions
SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity - Elimination of the convertible bond of 257 million EUR resolved in connection with the merger, for the benefit of its shareholders

27-Oct-2020 / 12:36 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.


+++ Ad-hoc announcement +++

 

SGT German Private Equity - Elimination of the convertible bond of 257 million
EUR resolved in connection with the merger, for the benefit of its shareholders


- Elimination of the issuance of the convertible bond of 257 million EUR and the imminent dilution of up to 103 million shares, without replacement

- Retrospective, fundamental improvement of the conditions of the ongoing merger

- Many times higher upside opportunity for its shareholders
 

Frankfurt/Main, 27 October 2020 - Today, the SGT German Private Equity, a listed private equity asset manager, has agreed with the shareholders of the merger partner SGT Capital Pte. Ltd., SGT Capital LLC, retrospectively to their merger resolved at the Annual General Meeting on 7 August 2020 that the convertible bond of 257.46 million EUR, that was resolved as a compensation for the contribution in kind, will not be issued, but cancelled without replacement. This relieves the liabilities' side of the future balance sheet of the merged company substantially and eliminates the imminent dilution of the existing shareholders of up to 103 million shares.

The reason for the concession of the elimination of the planned issuance of the convertible bond is a surprisingly asymmetrical accounting effect under IFRS, being opposed to advise previously obtained, which would have caused significant book losses upon each fund raising achievement for the launched private equity fund beyond the base case scenario of 1 billion USD fund volume, hence would have repeatedly hit the profit and loss statement strongly.

Seite 1 von 3
SGT German Private Equity Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



Diesen Artikel teilen

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

DGAP-Adhoc SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity - Elimination of the convertible bond of 257 million EUR resolved in connection with the merger, for the benefit of its shareholders DGAP-Ad-hoc: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Change in Forecast/Mergers & Acquisitions SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity - Elimination of the convertible bond of 257 million EUR resolved in …

Meistgelesene Nachrichten des Autors

Titel
Titel
Titel
Titel

Diskussionen zu den Werten

ZeitTitel
01.12.20