EQS-News

123fahrschule SE: Capital increase against contribution in kind by 71,334 shares - issue price EUR 9,00 per shares

EQS-News: 123fahrschule SE / Key word(s): Development of Sales/Corporate Action 123fahrschule SE: Capital increase against contribution in kind by 71,334 shares - issue price EUR 9,00 per shares 11.05.2023 / 15:17 CET/CEST The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS RELEASE.

 

Corporate News

• Capital increase against contribution in kind by 71,334 shares against contribution of a receivable of KlickVentures GmbH against 123fahrschule Holding GmbH amounting to EUR 642,006.00 in the context of the acquisition of FahrerWerk GmbH to 123fahrschule SE with a notional issue price of EUR 9,00 per shares.
• Positive development in the education of driving instructors through acquired FahrerWerk GmbH

 

Cologne/Frankfurt am Main, 11 Mai 2023 – Yesterday, the Management Board of 123fahrschule SE (ISIN: DE000A2P4HL9; ticker symbol: 123F) resolved, with the approval of the company's Supervisory Board, to increase the company's capital by EUR 71,334.00 against contribution in kind at an issue price of EUR 9.00 per new share, excluding subscription rights. The contribution in kind consists of a receivable of KlickVentures GmbH against 123fahrschule Holding GmbH in the amount of EUR 642,006.00 in connection with the acquisition of FahrerWerk GmbH by 123fahrschule Holding GmbH. This claim of KlickVentures GmbH corresponds to just under 75% of the first variable purchase price (earn-out) to be paid under the purchase agreement as part of the acquisition. The Company became a party to this purchase agreement on the side of 123fahrschule Holding GmbH. The purchase agreement already provided the option to pay the purchase price in shares. By converting part of the payable purchase price into new shares, the 123fahrschule Group secures liquidity in a corresponding amount, which it will use to implement the Company's strategy, particularly with regard to further expansion in online theory and growth in existing locations.  The acquisition of FahrerWerk is an essential part of this strategy for the company, as the organic growth of the company is secured via driving instructor training.