DGAP-Adhoc The Social Chain AG: The Social Chain AG acquires all shares of Carl Wilhelm Clasen Gesellschaft mit beschränkter Haftung and increases its revenue forecast for 2020
DGAP-Ad-hoc: The Social Chain AG / Key word(s): Investment/Takeover
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The Social Chain AG acquires all shares of Carl Wilhelm Clasen Gesellschaft mit beschränkter Haftung and increases its revenue forecast for 2020
Berlin, 17 November 2020 - The Social Chain AG (WKN: A1YC99, ISIN: DE000A1YC996, Ticker: PU11) (the "Company") has today signed a notarised share purchase, contribution and transfer agreement with all shareholders of Carl Wilhelm Clasen Gesellschaft mit beschränkter Haftung ("Clasen") under which the Company will acquire 100% of the share capital of Clasen.
Clasen with its subsidiaries is an established brand for nuts, snacks and dried fruits and sells its products primarily through food retailers as well as e-commerce platforms and its own online shop, each with a focus on the "Clasen Bio" brand.
In return for part of the shares in Clasen, the company pays a fixed cash payment in the single-digit million range to all shareholders. A further part of the shares will be contributed to the company within the context of a non-cash capital increase, which is now to be resolved at short notice by the Management Board with the approval of the Supervisory Board, using the existing authorised capital of the company. A total of 100,000 new shares in the company are to be issued for this purpose; the subscription rights of shareholders are to be excluded. In addition, the company will issue extensive declarations of indemnity to the sellers with regard to existing securities and provide substantial support for further working capital lines. The parties have agreed not to disclose further conditions.